February 23, 2026 5:06pm

The upsized sector portfolio will get lower as the earnings “shovel” digs even deeper; now watch-out for share pricing heart attacks

As I wrote this a.m., “ … still hesitant to shovel the “additional levies” of 16-18 inches <or percentages> and it’s still coming”

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: Shovel-out the portfolio … https://www.regmedinvestors.com/articles/14323

 

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

 

Monday: The Dow closed DOWN -821.91 points or -1.66%, the S&P closed DOWN -71.76 points or -1.04% while the Nasdaq closed DOWN -258.796 points or -1.13%

  • Theme of the session: tariff’s uncertainty depletes investor confidence

Monday’s (my) 40-company covered sector’s advance/decline line opened negative with 16 incliners, 22 decliners and 2 flats, ending with a positive close of 24 incliners, 13 decliners and 3 flats

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

  • Mortgage rates just dropped below 6%, matching lowest level since 2022. The average rate on the popular 30-year fixed mortgage fell to 5.99%. Applications to refinance a home loan are about 130% higher than they were a year ago.

The CBOE Fear (VIX) index, Monday closed at 21.01, after Friday’s 19.11, Thursday’s 20.28, Wednesday’s 19.64, after Tuesday’s 20.35 and last Monday’s market holiday

Metrics: Monday …

  • The RUT was down -42.79 points or -1.61%,
  • The XLV was up +1.72 points or +1.10%,
  • The NBI was up +34.60 points or +0.58%;
  • The XBI was up +2.19 points or +1.76%
  • The IWM was down -4.12 or -1.56%;
  • The IBB was up +0.71 points or +0.41%,
  • The VIX was up +1.92 points or +10.06% at to 21.01

 

Q1/26 February – 1 holiday, 7 negative and 8 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

 

Monday Closing UP (10 of 24) 

  • Vertex (VRTX +$4.11 after Friday’s +$7.63),
  • Ionis Pharmaceuticals (IONS +$1.45 after Friday’s +$0.01),
  • uniQure NV (QURE +$1.03 after Friday’s -$0.97),
  • Beam Therapeutics (BEAM +$0.74 after Friday’s -$0.29),
  • Dyne Therapeutics (DYNE +$0.57 after Friday’s -$0.37),
  • Intellia Therapeutics (NTLA +$0.54 after Friday’s -$0.40),
  • CRISPR Therapeutics (CRSP +$0.52 after Friday’s -$1.18),
  • Moderna (MRNA +$0.42 after Friday’s +$0.17),
  • Lenz Therapeutics (LENZ +$0.30 after Friday’s -$0.46),
  • Rocket Therapeutics (RCKT +$0.21 after Friday’s +$0.04),

Flat (3)

  • Entrada Therapeutics (TRDA)
  • Harvard Apparatus RT (OTCQB: HRGN)
  • Generation Bio (GBIO) – acquired

Monday’s Closing DOWN (13 of 13): 

  • Alnylam Pharmaceuticals (ALNY -$6.84 after Friday’s -$3.18),
  • IQIA Holdings (IQV -$3.51 after Friday’s -$3.67),
  • Sarepta Therapeutics (SRPT -$0.76 after Friday’s +$0.29),
  • Capricor Therapeutics (CAPR -$0.64 after Friday’s -$0.64),
  • Arrowhead Pharmaceuticals (ARWR -$0.45),
  • Precigen (PGEN -$0.30),
  • Compass Therapeutics (CMPX -$0.28),
  • BioNTech (BNTX -$0.21),
  • BioLife Solutions (BLFS -$0.21),
  • Ultragenyx Pharmaceuticals (RARE -$0.21 after Friday’s +$0.89),
  • Regenxbio (RGNX -$0.20),
  • Mesoblast (MESO -$0.20),
  • Supernus Therapeutics (SUPN -$0.17 after Friday’s -$0.49),

 

The Bottom Line: More of the … WHY

Dow tumbles 800 points on growing fears about AI disruption and tariff drags the cell and gene therapy sector.

  • Software stocks were under pressure yet again as AI disruption worries hovered over the market.
  • Software hasn’t been the only sector to be hit due to AI fears recently:
  • Stocks linked to trucking and logistics; commercial real estate and financial services have similarly suffered losses this month.

Concerns around what AI could mean for the economy were fueled this past weekend after Citrini Research put out a piece of research on how the AI boom could hurt the broader economy, as it would lead to 10% unemployment. <CNBC>

Trump continued to assert his ability to increase tariffs today, warning of higher duties for countries that want to “play games” after the Supreme Court struck down his “reciprocal” tariffs last week.

  • European officials expressed concern regarding the action, signaling that it could pose a threat its trade deals with the U.S. In fact, the European Parliament announced Monday that it has paused work on ratifying the trade agreement reached between the U.S. and the European Union. <CNBC>

 

More earnings this week … Earnings release dates:

  • Tuesday - 2/24 – AxoGen (AXGN)
  • Wednesday – 2/25 – MiMedx (MDXG), Ionis Pharmaceuticals (IONS) and Sarepta Therapeutics (SRPT)
  • Thursday – 2/26 – Intellia Therapeutics (NTLA), Wave Life Sciences (WVE), Vericel (VCEL) and BioLife Solutions (BLFS)

 

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 – 4th week

  • 2/23 - Monday closed positive with 24 incliners, 13 decliners and 3 flats

February – 3rd week

  • 2/20 - Friday closed negative with 13 incliners, 26 decliners and 1 flat
  • 2/19 – Thursday closed positive with 25 incliners, 12 decliners and 3 flats
  • 2/18 - Wednesday closed positive with 30 incliners, 8 decliners and 2 flats
  • 2/17 – Tuesday closed positive with 27 incliners, 11 decliners and 2 flats
  • 2/16 – Monday was market holiday

February – 2nd week

  • 2/13 - Friday closed positive with 24 incliners, 14 decliners and 2 flats
  • 2/12 – Thursday closed negative with 7 incliners, 33 decliners and 2 flats
  • 2/11 - Wednesday closed negative with 12 incliners, 25 decliners and 3 flats
  • 2/10 - Tuesday closed negative with 19 incliners, 20 decliners and 1 flat
  • 2/9 -Monday closed positive with 23 incliners, 14 decliners and 3 flats

February – 1st week

  • 2/6 – Friday closed positive with 35 incliners, 5 decliners and 0 flat
  • 2/5 -Thursday closed negative with 2 incliners, 36 decliners and 2 flats
  • 2/4 -Wednesday closed negative with 10 incliners, 29 decliners and 1 flat               
  • 2/3 -Tuesday closed negative with 18 incliners, 21 decliners and 1 flat      
  • 2/2 -Monday closed positive with 29 incliners, 10 decliners and 1 flat

 

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

  • Monday: Vertex (VRTX), Ionis Pharmaceuticals (IONS) and uniQure NV (QURE)
  • Friday: Vertex (VRTX), Ultragenyx Pharmaceuticals (RARE) and Wave Life Sciences (WVE)

The worst three (3) in the session: Losers

  • Monday: Alnylam Pharmaceuticals (ALNY), IQIA Holdings (IQV) and Sarepta Therapeutics (SRPT)
  • Friday: IQIA Holdings (IQV), Alnylam Pharmaceuticals (ALNY) and CRISPR Therapeutics (CRSP)

 

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.