April 21, 2026 4:50pm

Cease fire extended as valuations tousled with war-oriented volatility highlighting the fear index VIX

Yet, markets have held up better than expected in Iran war having dropped in the early weeks of the war before recovering.

As of this week, the Dow sits within striking distance of the all-time peak it reached in February.

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!

Tuesday’s Pre-open: None, just as i had stated just ... palpitations and tremors

Monday’s RMi Closing Bell: Which way and what’s to happen? … https://www.regmedinvestors.com/articles/14389   

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

 

News: Moderna (MRNA -$0.36 or -0.66% to $54.23) the European Commission (EC) has granted marketing authorization for mCOMBRIAX® (mRNA-1083), MRNA's mRNA combination vaccine for active immunization for the prevention of influenza disease and COVID-19 caused by SARS-CoV-2 in individuals 50 years of age and older.

 

What happened and some of the whys with the numbers behind

… it’s NOT always about BUYs/SELLs … it’s about knowing when and what!

 

Tuesday: The Dow closed DOWN -293.18 points or -0.59%, the S&P closed DOWN -45.13 points or -0.63% while the Nasdaq closed DOWN -144.429 points or -0.59%

  • Theme of the session: Iran ceasefire fails

Tuesday (my) 40-company covered sector’s advance/decline line opened negative with 10 incliners, 28 decliners and 2 flats, ending with a negative close of 5 incliner, 33 decliners and 2 flats

  • It’s time for fundamentals and clinical trial “stones” to be MORE considered VALUED

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

  • Retail spending was stronger than expected in March as soaring gas prices took their toll on consumers’ wallets. Sales rose 1.7% for the month, stronger than the 0.6% gain in February and higher than the 1.5% Dow Jones consensus estimate, according to Commerce Department figures that are adjusted for seasonality but not inflation.
  • Excluding autos, sales rose 1.9%, compared to the estimate for 1.4%.
  • The monthly gain was driven largely by a 15.5% increase in receipts at gas stations as prices at the pump soared past $4 a gallon.
  • Furniture and home furnishings saw an increase of 2.2% while online sales rose 1%. Sales accelerated 4% on an annual basis.

The CBOE Fear (VIX) index, Tuesday closed at 20.59, after Monday’s 19.04, Friday’s 17.39, Thursday’s17.81, Wednesday’s 18.17and last Tuesday’s 18.47

Metrics: Tuesday …

  • The RUT was down -27.99 points or -1%,
  • The XLV was down -1.50 points or -1.02%,
  • The NBI was down -54.18 points or -0.89%;
  • The XBI was down -0.1.40 points or -1.02%
  • The IWM was down -2.84 or -1.02%;
  • The IBB was down -1.77 points or -1.01%,
  • The VIX was up +1.72 points or +9.11% at to 20.59
  • The SPX was down -45.13 or -0.63% to 7,064.01

 

Q2/26 – 1 holiday, 1 neutral, 5 negative and 7 positive closes

  • Q1 -March – 9 positive and 13 negative closes
  • February – 1 holiday, 8 negative and 11 positive sessions
  • January – 2 holidays, 2 neutral, 9 negative and 9 positive closes

 

Tuesday Closing UP (5 of 5) I see a couple of Wednesday's downs?

  • BioNTech (BNTX +$6.41 after Monday’s +$2.27 after Friday’s +$0.80),
  • Arrowhead Pharmaceuticals (ARWR +$1.80),
  • Capricor Therapeutics (CAPR +$1.13 after Monday’s -$0.49),
  • BioLife Solutions (BLFS +$0.18 after Monday’s +$0.69),
  • Intellia Therapeutics (NTLA +$0.10 after Monday’s +$0.26 after Friday’s +$0.79),

Flat (2)

  • Generation Bio (GBIO) – acquired
  • Harvard Apparatus TR (OTCQB: HRGN),

Tuesday’s Closing DOWN (10 of 33): I see a couple of Wednesday's downs?

  • Vertex (VRTX -$2.59 after Monday’s -$2.02 after Friday’s +$5.55),
  • Alnylam Pharmaceuticals (ALNY -$2.51 after Monday’s +$1.28 after Friday’s -$10.47),
  • CRISPR Therapeutics (CRSP -$2.15 after Monday’s -$0.30 after Friday’s +$2.27),
  • Vericel (VCEL -$2.14 after Monday’s +$0.13 after Friday’s +$1.91),
  • Supernus Therapeutics (SUPN -$2.13),
  • AxoGen (AXGN -$1.34 after Monday’s -$1.27 after Friday’s +$1.13),
  • IQVA Holdings (IQV -$1.18 after Monday’s +$0.41 after Friday’s +$4.35),
  • Ultragenyx Pharmaceuticals (RARE -$0.96 after Monday’s +$0.25),
  • Dyne Therapeutics (DYN -$0.81 after Monday’s -$0.39),
  • Sarepta Therapeutics (SUPN -$0.74),

 

The Bottom Line: More of the … WHY and a lot of what ifs …

Again, investors can a tank through the gaps in sentiment; the S&P 500 is at an all-time high, while consumer sentiment is at an all-time low.

  • The latest University of Michigan Consumer Sentiment Index showed that US consumer confidence this month has plummeted to a record low of 47.6 representing an 11% plunge from March and is the lowest reading in the survey's 74-year history.

Indexes sank Tuesday, as any optimism didn't last; although there are small moves in the C&GT sector.

  • Tuesday's moves aren't long-term game changers.
  • The Iranian conflict still weighs on the global economy and nobody knows what tomorrow will bring.
  • The 2-week ceasefire that inspired a broad market surge expires on Wednesday, unless the Trump administration strikes a new deal with Iranian leaders.

For the week, so far:

  • The S&P 500 is down 62.05 points, or 0.9%.
  • The Dow is down 298.05 points, or 0.6%.
  • The Nasdaq is down 208.52 points, or 0.9%.
  • The Russell 2000 is down 11.93 points, or 0.4%.

 

Momentum is building in retail trading, with fading Tax Day headwinds making Monday the biggest day of retail buying since April 6.

  • Meanwhile, de-escalating geopolitical tensions in the Middle East and lower volatility should also help boost retail participation.
  • Monday’s volume was consistent with the seasonal pattern of retail activity that tends to build after mid-April.
  • But stepping back, the broader equity positioning backdrop suggests that there is still room for participation to build. So far, U.S. equity repositioning has only retraced since the trough to roughly half of what is typically seen in comparable fast recoveries. <CNBC<

 

April 4th Week:

  • 4/21 – Tuesday closed negative with 5 incliners, 33 decliners and 2 flats
  • 4/20 - Monday closed negative with 16 incliners, 21 decliners and 3 flats

April 3rd Week:

  • 4/17 - Friday closed positive with 33 incliners, 5 decliners and 2 flats
  • 4/16 - Thursday closed negative with 12 incliners, 26 decliners and 2 flats
  • 4/15 – Wednesday closed positive with 26 incliners, 12 decliners and 2 flats
  • 4/14 - Tuesday closed positive with 32 incliners, 6 decliners and 2 flats
  • 4/13 - Monday closed positive with 33 incliners, 5 decliners and 2 flats

 

Q1/26 Earnings Release Dates:

  • AxoGen (AXGN) – Tuesday, 4/28
  • Alnylam Pharmaceuticals (ALNY) -Thursday, 4/30
  • IQVIA Holdings (IQV) – Tuesday, 5/5

 

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

  • Tuesday: BioNTech (BNTX), Arrowhead Pharmaceuticals (ARWR) and Capricor Therapeutics (CAPR)
  • Monday: BioNTech (BNTX), Moderna (MRNA) and BioLife Solutions BLFS)
  • Friday: Vertex (VRTX), IQIA Holdings (IQV) and CRISPR Therapeutics (CRSP)

The worst three (3) in the session: Losers’

  • Tuesday: Alnylam Pharmaceuticals (ALNY), Vericel (VCEL) and CRISPR Therapeutics (CRSP)
  • Monday: Vertex (VRTX), AxoGen (AXGN) and Ionis Pharmaceuticals (IONS)
  • Friday: Alnylam Pharmaceuticals (ALNY) Moderna (MRNA) and Compass Therapeutics (CMPX)

 

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.