March 20, 2026 6:49pm

Additional volatility was due to the broom-off during the quadruple witching event

The quarterly expiration of stock options, index options, index futures and single-stock futures that occurs 4 times a year

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!

TGIF, for once a dinner out, my favorite fried clams with a Tito's & rocks

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!

Friday’s RMi Pre-opening; Bouncy … https://www.regmedinvestors.com/articles/14355   

RMi Research Note: Harvard Apparatus GT (OTCQB: HRGN): dives -$0.28 on 1 share traded … https://www.regmedinvestors.com/articles/13812  

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

 

What happened and some of the whys with the numbers behind …

Friday: The Dow closed DOWN -443.96points or -0.96%, the S&P closed DOWN -100.01 points or -1.51% while the Nasdaq closed DOWN -443.08 points or -2.01%

  • Theme of the session: it’s all about the Straits of Hormuz

Friday’s (my) 40-company covered sector’s advance/decline line opened positive with 22 incliners, 17 decliners and 1 flat, ending with a negative close of 6 incliner, 33 decliners and 1 flat

  • The Dow and Nasdaq are nearing correction territory, with the Dow -8.6% below its record close set Feb. 10, and the Nasdaq sits more than 8% away from its all-time closing high reached Oct. 29 while the S&P 500 holding around 5% off its all-time high
  • The Russell 2000 has fallen more than 10% off its recent high, becoming the 1st of the major U.S. benchmarks to fall into correction territory this year.

The CBOE Fear (VIX) index, Friday 26.78, after Thursday’s 24.36, Wednesday’s 24.68, Tuesday’s 22.38, Monday’s 12.72 and last Friday’s 27.19

Metrics: Friday …

  • The RUT was down -56.26 points or -2.26%,
  • The XLV was down -1.28 points or -0.87%,
  • The NBI was down -94.91 points or -1.67%;
  • The XBI was down -2.02 points or -1.65%
  • The IWM was down -5.41 or -2.18%;
  • The IBB was down -2.81 points or -1.71%,
  • The VIX was up +2.72 points or +11.31% at to 26.78

 

Q1/26 – March – 6 positive and 9 negative closes

  • February – 1 holiday, 8 negative and 11 positive sessions
  • January – 2 holidays, 2 neutral, 9 negative and 9 positive closes

 

Friday Closing UP (6 of 6)

  • Alnylam Pharmaceuticals (ALNY +$1.07 after Thursday’s -$3.70 after Wednesday’s -$5.62 after Tuesday’s +$4.32 after Monday’s+$5.50),
  • uniQure NV (QURE +$0.83 after Thursday’s +$0.53 after Wednesday’s -$0.89 after Tuesday’s -$0.32 after Monday’s +$0.41),
  • Voyager Therapeutics (VYGR +$0.105),
  • Sarepta Therapeutics (SRPT +$0.04 after Thursday’s -$0.51 after Wednesday’s +$0.32),
  • Fate Therapeutics (FATE +$0.02),
  • Brainstorm Cell Therapeutics (BCLI +$0.0073),

Flat (1)

  • Generation Bio (GBIO) – acquired

Friday’s Closing DOWN (10 of 33):

  • Vertex (VRTX -$4.05 after Thursday’s +$6.46 after Wednesday’s -$10.90 after Tuesday’s -$3.61 after Monday’s -$3.24),
  • Capricor Therapeutics (CAPR -$2.07 after Thursday’s +$0.27),
  • Vericel (VCEL -$1.33 after Thursday’s +$0.44),
  • Supernus Therapeutics (SUPN -$1.08 after Thursday’s -$0.45 after Wednesday’s -$1.53 after Tuesday’s +$0.61),
  • Lenz Therapeutics (LENZ -$1.01 after Thursday’s -$0.23),
  • Moderna (MRNA -$0.99),
  • CRISPR Therapeutics (CRSP -$0.69 after Thursday’s -$0.76 after Wednesday’s -$2.40 after Tuesday’s +$1.67 after Monday’s -$0.33),
  • BioLife Solutions (BLFS -$0.68 after Thursday’s +$0.41),
  • Entrada Therapeutics (TRDA -$0.67),
  • Arrowhead Pharmaceuticals (ARWR -$0.63 after Thursday’s +$0.25),

 

 

The Bottom Line: More of the … WHY

Today, Friday marked the 3rd consecutive day and the 4th straight week of declines for the S&P 500, as the market faces continued uncertainty over the Iran war.

  • Rising inflation from soaring oil and gas prices, the Fed is all but eliminating the chance of any rate cuts in the foreseeable future.

Today’s shift continues to put significant pressure on the cell and gene therapy sector equities as share pricing dropped due to quadruple witching volatility.

  • Also hampering these risk-oriented stocks is the fact that investors are shifting toward more defensive stocks as they seek refuge from an increasingly volatile market.

Earnings release dates: soon to be catching up

  • Tuesday - 2/24 – AxoGen (AXGN), Beam Therapeutics (BEAM) and Supernus Therapeutics (SUPN)
  • Wednesday – 2/25 – MiMedx (MDXG), Ionis Pharmaceuticals (IONS) and Sarepta Therapeutics (SRPT)
  • Thursday – 2/26 – Rocket Pharmaceuticals (RCKT), Intellia Therapeutics (NTLA), Wave Life Sciences (WVE), Vericel (VCEL) and BioLife Solutions (BLFS)
  • Monday - 3/2 – Dyne Therapeutics (DYN)
  • Thursday – 3/5 – Regenxbio (RGNX), Compass therapeutics (CMPX)
  • Thursday – 3/12 – Capricor Therapeutics (CAPR)
  • Monday – 3/16 – Agenus (AGEN)
  • Wednesday – 3/25 – Precigen (PGEN)

 

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,

 

March – 3rd week

  • 3/20 – Friday closed negative with 6 incliner, 33 decliners and 1 flat
  • 3/19 – Thursday closed positive with 20 incliners, 18 decliners and 2 flats
  • 3/18 – Wednesday closed negative with 3 incliner, 35 decliners and 2 flats
  • 3/17 - Tuesday closed positive with 25 incliners, 14 decliners and 1 flat
  • 3/16 - Monday closed positive with 27 incliners, 10 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 – closed end funds” (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

  • Friday: Alnylam Pharmaceuticals (ALNY), uniQure NV (QURE) and Voyager Therapeutics (VYGR)
  • Thursday: Vertex (VRTX), uniQure NV (QURE) and Arrowhead Pharmaceuticals (ARWR)
  • Wednesday: Sarepta Therapeutics (SRPT), Mesoblast (MESO) and Cellectis SA (CLLS)
  • Tuesday: BioNTech (BNTX), IQIA Holdings (IQV) and CRISPR Therapeutics (CRSP0
  • Monday: Alnylam Pharmaceuticals (ALNY), Arrowhead Pharmaceuticals (ARWR) and Ionis Pharmaceuticals (IONS)

The worst three (3) in the session: Losers

  • Friday: Vertex (VRTX), Capricor Therapeutics (CAPR) and Vericel (VCEL)
  • Thursday: Alnylam Pharmaceuticals (ALNY), BioNTech (BNTX) and Sarepta Therapeutics (SRPT)
  • Wednesday: Vertex (VRTX), BioNTech (BNTX) and Alnylam Pharmaceuticals (ALNY)
  • Tuesday: Vertex (VRTX), Voyager Therapeutics (VYGR) and uniQure NV (QURE)
  • Monday: Vertex (VRTX), and Wave Life Sciences (WVE)

 

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.