February 5, 2026 4:41pm

As sector earnings begin (IQV in The Bottom Line>, while tech/software shares decline; the C&GT sector rout increases

What you as an investor need to know, and what’s behind the curtain of dropping LPS (loss-per-share) share pricing

Pre-open Indications: 2 Hits

RMi collects, curates, interprets and disseminates cell and gene therapy sector (C&GT) fact-based news, trustable and verified intel of share pricing data bridging the gap to an investment decision

Never leave a retail investor uninformed!  It’s not always time to buy or sell; but it is time to KNOW why!

I write this blog/newsletter to inform investors with facts and supporting numbers focused on what they need to hear that others will not say or write about – facts in evidence!  I’m NOT at all writing a doom-and-gloom predictions as I am more frequently right than consequentially wrong; I am mostly EARLY in my prognostications!

 

RMi Pre-opening: Can you catch a falling knife? … https://www.regmedinvestors.com/articles/14299

RMi Finance Note: Sangamo Therapeutics (SGMO) Offering 35.19 M shares priced at $0.4719 … https://www.regmedinvestors.com/articles/14295   

 

I chose to speak-up when many analysts, brokers and commentators have shut-up!

 

Thursday: The Dow closed DOWN -592.58 points or -1.20%, the S&P closed DOWN -84.34 points or -1.23% while the Nasdaq closed DOWN -363.993 points or -1.59%

  • Theme of the session: rout as investors took a risk-off stance

Thursday’s (my) 40-company covered sector’s advance/decline line opened negative with 10 incliners, 28 decliners and 2 flats, ending with a barely negative close of 2 incliners, 36 decliners and 2 flats

  • The Russell 2000′s pulled the small cap-focused index into the red for the week. The index dropped around 2% in the session, on track for its worst day in nearly three months. The Russell 2000 is now down more than 1.5% on the week.

Henry’omics: We need to more than consider the macro-economic environment to comprehend the cause and effect of the macro versus micro data affecting “our” universe of cell and gene therapy (C&GT) sector

  • initial jobless claims for the week ended Jan. 31 totaled a seasonally adjusted 231,000, the highest since early December though the spike likely had something to do with a brutal winter storm that hit large parts of the country. The longer-term trend still was at its lowest since October 2024.
  • The Bureau of Labor Statistics reported that job openings fell sharply in December to 6.54 million, a slide of 386,000 on a monthly basis and down more than 900,000 from the October level. Openings are now at their lowest since September 2020. The decrease in available positions put the ratio of available jobs to unemployed workers at 0.87 to 1, down from more than 2 to 1 at its peak in mid-2022.
  • Challenger, Gray & Christmas tracks data from U.S. employers that announced 108,435 layoffs for the month, up 118% from the same period a year ago and 205% from December 2025. The total marked the highest for any January since 2009. At the same time, announcing 5,306 new hires, also the lowest January since 2009. Also, job openings fell sharply in December to 6.54 million, to their lowest since September 2020. Available jobs are down by more than 900,000 just since October.
  • U.S. employers announced 108,435 layoffs for the month, up 118% from the same period a year ago and 205% from December 2025. The total marked the highest for any January since 2009

The CBOE Fear (VIX) index, Thursday at 21.63, after Wednesday’s 19.25, Tuesday’s 17.91, Monday’s 16.53, Friday’s 17.66 and last Thursday’s 16.89

Metrics: Thursday …

  • The RUT was down -49.29 points or -1.88%,
  • The XLV was down -1.15 points or -0.74%,
  • The NBI was down -122.01 points or -2.06%;
  • The XBI was down -4.56 points or -3.64%
  • The IWM was down -4.67` or -1.79%;
  • The IBB was down -40.1 points or -2.30%,
  • The VIX was up +2.99 points or +16 % at to 21.63

 

Q1/26 February – 3 negative and 1 positive sessions

  • January – 2 holidays, 2 neutral, 9 negative and 9 positive closes

Q4/25 …

  • December – 1 holiday, 8 positive and 14 negative closes
  • November – 1 holiday, 8 positive and 11 negative closes
  • October -1 neutral, 11 positive and 12 negative closes

 

Thursday Closing UP (2 of 2) 

  • Supernus Therapeutics (SUPN +$0.29 after Wednesday’s +$0.68 after Tuesday’s -$0.38 after Monday’s +$0.62),
  • Generation Bio (GBIO +$0.12),

Flat (2)

  • Brainstorm Cell Therapeutics (BCLI $0.00 after Wednesday’s +$0.01),
  • Harvard Apparatus RT (OTCQB: HRGN $0.00 after Wednesday’s $0.00 after Tuesday’s $0.00 (was -$0.11) after Monday’s -$0.10 after Friday’s $0.00)

Thursday’s Closing DOWN (10 of 36): 

  • IQIA Holdings (IQV -$21.85 after Wednesday’s -$1.48 after Tuesday’s -$27.54 after Monday’s +$1.01 after last Friday’s -$5.33),
  • Alnylam Pharmaceuticals (ALNY -$20.72 after Wednesday’s +$0.16 after Tuesday’s +$12.69 after Monday’s +$1.05),
  • Vertex (VRTX -$11.71 after Wednesday’s +$4.91 after Tuesday’s -$6.40 after Monday’s +$2.11),
  • CRISPR Therapeutics (CRSP -$4.29 after Wednesday’s -$1.83 after Tuesday’s +$0.69 after Monday’s +$1.35 after Friday’s -$3.39),
  • Arrowhead Pharmaceuticals (ARWR -$3.42 after Wednesday’s -$4.08 after Tuesday’s -$0.86 after Monday’s +$3.67 after Friday’s +$0.21),
  • BioNTech (BNTX -$3.23 after Wednesday’s +$0.52 after Tuesday’s -$0.63 after Monday’s -$4.87),
  • Sarepta Therapeutics (SRPT -$2.70),
  • Beam Therapeutics (BEAM -$2.22 after Wednesday’s -$0.94),
  • uniQure NV (QURE -$2.13 after Wednesday’s -$1.15 after Tuesday’s +$3.10 after Monday’s +$1.98 after Friday’s -$0.94),
  • Moderna (MRNA -$1.90 after Wednesday’s +$0.57 after Tuesday’s -$0.35 after Monday’s -$1.52),

 

The Bottom Line: More of the … WHY

Sector earnings have started in this 1st week of a new month, another sprint down after Monday’s big up …

Indexes took sizable hits again today, Thursday in a fruitless search for a reprieve from a continuous tech sell-off

  • The losses have been spurred by worries about AI disruption to established software players — a risk that … HAD been overlooked by investors focused on the fallout from massive AI spending until recently.
  • The labor market flashed fresh signals of weakness: Weekly jobless claims rose more than expected, and job openings sank to their lowest level since 2020, while a new report found that last month marked the worst January for layoff announcements since 2009. The government's monthly jobs report is due next Wednesday.

 

Earnings:

IQVIA (NYSE: IQV) fell -10.79% after the company issued a weak full-year 2026 profit forecast that fell below expectations. IQV’s projected adjusted earnings for 2026 to be in the range of $12.55 to $12.85 per share, short of analysts' average estimate of $12.95.

  • IQV announced Q2 revenue of $4.02 billion, which surpassed analyst estimates of $3.96 billion.
  • Adjusted earnings per share (EPS), a key measure of profitability, came in at $2.81, which was also ahead of the consensus forecast of $2.77.
  • The strong performance was driven by solid growth across its business segments, with the Technology & Analytics Solutions division seeing an 8.9% revenue increase.
  •  Looking ahead, IQVIA updated its full-year 2025 guidance. It slightly raised its forecast for adjusted EPS to a range of $11.75 to $12.05.
  • The company also reaffirmed its full-year revenue projection, expecting between $16.1 billion and $16.3 billion. The positive results and optimistic outlook appeared to boost investor confidence, signaling robust demand for its clinical research and data analytics services.
  • IQVIA is down 17% since the beginning of the year, and at $187.09 per share, it is trading 23.4% below its 52-week high of $244.29 from January 2026. Investors who bought $1,000 worth of IQVIA’s shares 5 years ago would now be looking at an investment worth $1,005.
  • This disappointing outlook overshadowed a strong Q4 performance, in which the company surpassed estimates with revenue of $4.36 billion and an adjusted profit of $3.42 per share.
  • Investors, however, focused on the weaker future guidance rather than the solid quarterly results, sending the stock lower.

 

Earnings release dates:

  • 2/5 – IQVA Holdings (IQV)
  • 2/12 – Alnylam Pharmaceuticals (ALNY), Vertex (VRTX) and Ultragenyx Pharmaceuticals (RARE)
  • 2/13 – Moderna (MRNA)

 

RISK is always a factor remaining below the surface …  boiled-up as slight shocks of profiteering on upsides shook but not rocked the C&GT sector and markets!

  • As I had also written, cash is king for investors who want to keep some liquidity and avoid having to sell in a down market,

 

February – 1st week

  • Thursday closed negative with 2 incliners, 36 decliners and 2 flats
  • Wednesday closed negative with 10 incliners, 29 decliners and 1 flat        
  • Tuesday closed negative with 18 incliners, 21 decliners and 1 flat
  • Monday closed positive with 29 incliners, 10 decliners and 1 flat

January – 5th week:

  • 1/30 – Friday closed negative with 6 incliners, 32 decliners and 2 flat
  • 1/29 - Thursday closed positive with 22 incliners, 17 decliners and 1 flat
  • 1/28 - Wednesday closed negative with 4 incliners, 35 decliners and 1 flat
  • 1/27 - Tuesday closed positive with 21 incliners, 19 decliners and 0 flat
  • 1/26 -Monday closed positive with 19 incliners, 18 decliners and 3 flats

 

As the leading voice of cell and gene therapy investors; I am NOT always a doom and gloom analyst/journalist but a man who has been “there” (BUY, SELL, VC and multiple operating roles) with the gray hair and a readership following with real numbers to prove it!

 

Why do I keep repeating, framed in a different para, so investors can make the connection

The top three (3) performing in the session:    Winners

  • Thursday: Supernus Therapeutics (SUPN) and Generation Bio (GBIO)
  • Wednesday: Vertex (VRTX), Supernus therapeutics (SUPN) and Moderna (MRNA)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), uniQure NV (QURE) and Capricor Therapeutics (CAPR)
  • Monday: Arrowhead Pharmaceuticals (ARWR), Vertex (VRTX) and UniQure NV (QURE)

The worst three (3) in the session: Losers

  • Thursday: IQIA Holdings (IQV), Alnylam Pharmaceuticals (ALNY) and Vertex (VRTX)
  • Wednesday: Arrowhead Pharmaceuticals (ARWR), CRISPR Therapeutics (CRSP) and IQIA Holdings (IQV)
  • Tuesday: IQIA Holdings (IQV), Vertex (VRTX) and Arrowhead Pharmaceuticals (ARWR)
  • Monday: BioNTech (BNTX), Moderna (MRNA) and Regenxbio (RGNX)

 

Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice. Whether information or intelligence is good, bad, or somewhere in between; I put into context what is relevant and useful for investors.  All investments are subject to risks. Investors should consider investment objectives.

Henry McCusker, the editor, and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication. Regulation Analyst Certification (Reg AC):

The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and it’s or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.