October 21, 2015 6:19am
If you are not listening, you might not hear the music at all, and if you don't hear the music, how can you expect to find a chair when the music stops?
Wednesday’s “5” trading indications! Subscription required: http://www.regmedinvestors.com/user/register
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DOW futures are UP +0.3% and NASDAQ futures are UP 0.4%
U.S. stock index futures indicated a slightly higher open on Wednesday, with investor's looking to Ferrari NV's first day of trading and a fresh slew of corporate earnings reports.
European equities pared some losses to trade flat as investors look ahead to a meeting of the European Central Bank (ECB) on Thursday and digest a slew of mixed earnings.
Asian stocks diverged, with China posting its worst one-day performance in five weeks after being hit by a sudden bout of selling in small-caps in the afternoon session.
Data docket: There are no top-tier U.S. economic reports slated for release on Wednesday. At 1:30 p.m. ET, FED Gov. Jerome Powell is due to moderate a panel on repo markets, liquidity and the Treasury market at a regulatory conference.
The RegMed sector closed NEGATIVE on Tuesday, NEUTRAL on Monday, and NEGATIVE on Friday, POSITIVE on Thursday after a NEGATIVE close on last Wednesday.
The RegMed sector closed NEGATIVE with 28 decliners, 10 advances and 5 flats following a NEUTRAL close on Monday with 20 decliners, 20 advancers and 3 flats.
In the stem, cell and gene therapy RegMed sector (SCGT&RM) valuations and I-Bank price targets are grossly exorbitant; I keep wondering in what year of the next twenty (20) years with these rankings will ever come to fruition.
- “Our” universe tends to react more quickly to bad news than do the analysts themselves. Thus, I-Bank analysts more often <than not> follow the market rather than lead it.
Market capitalizations are also frequently fictional. It assumes that shares of a company are worth the price at which the last block sold. However, if you tried to sell all of the shares of a company, the price would definitively drop.
Wednesday’s trading indications:
- AxoGen (AXGN) closed DOWN -$0.17 <after Monday’s -$0.01> to $4.53- BUY;
- Capricor (CAPR) closed UP +$0.06 <after Monday’s -$0.06 to $4.51 after Friday’s +$0.06> to $4.54 on 11.9 K share volume <3 month average = 23.3 K shares>. Be ready for a $10 to $15 M mixed offering that might also include debt- Maintaining SELL;
- Kite Pharma (KITE) closed DOWN -$0.64 <after Monday’s +$2.64> to $67.07 with 953.1 K share volume versus Monday’s 1.393 M shares traded <3 month average = 905.5 K shares> - BUY;
- Organovo (ONVO) closed UP +$0.04 <after Monday’s -$0.01> to $3.28 after the month of October’s attrition – undervalued and oversold – BUY;
- Verastem (VSTM closed DOWN -$0.04 to $2.01 after Monday’s -$0.08. there is about $3.20 of cash per share post trial failure and costs of disposal activities – BUY
The information included above as well as individual companies and/or securities mentioned should be construed as guidance in RMi reviews.
The facts stated and the opinions given in this publication are based on data and information considered to be reliable and have been carefully worked into my qualitative analyses and prognoses.
However, no guarantee can be given as to their fairness, accuracy or completeness.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.
