March 3, 2016 5:56pm
What are the share price drivers; we’re still stuck in Q4/15 topography!
Ranking Thursday’s end-of-day pre-open trading indications – 4 hits and 3 misses.
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Investors suffer from the paradox of information overload. If you have a smartphone in your pocket, you can access more information about the financial markets than the world's top hedge funds did 20 years ago. Yet, I bet your investment returns have not improved one iota as a result.
· But, who is interpreting that information … get it here!
U.S. stocks closed higher Thursday, building on the week's gains so far, as oil prices stabilized ahead of Friday's jobs data.
The NASDAQ closed UP +4.00 or +0.09% to 4,707.42 and the DOW closed UP +44.31 or +0.26% to 16,943.63.
A day in the life of the stem, cell and gene therapy RegMed (SCGT & RM) sector – the advance/decline line scenario of our 43 covered companies.
- Thursday, the stem, cell and gene therapy RegMed sector opened negative with an A/DL of 17/23 and 1 flats;
- The mid-day stayed negative with an A/DL of 17/24 and 2 flats;
- The closing bell rang positive with A/DL of 18/23 and 2 flats
Henry’omics:
The stem, cell and gene therapy RegMed (SCGT&RM) sector opened positive, stayed positive at the mid-day and closed positive (of 43 covered companies).
- Referencing the title … what is topography basically, it is the detailed mapping or charting of the features of a relatively small area i.e. trading ranges.
Always the contrarian who watches the fundamentals and patterns, I thought there would be a melt-down. Again, what we're seeing here is a sector that is chasing the oversold effect.
- A highlight, the Russell 2000 was UP +0.6% for the third day this week
The NASDAQ closed only 4 points higher but had traded a touch lower as biotechs weighed.
- I am seeing some reductions in risky companies; going forward I believe the SCGT&RM sector will be range-bound until we get through Q4/15 financial results/earnings,
Thursday’s handicapping the sector pre-open indications – 4 hits and 3 miss:
- Bluebird bio (BLUE) closed DOWN – hit;
- Capricor (CAPR) closed UP – miss;
- Harvard Apparatus RT (HART) closed UP – hit;
- Cesca Therapeutics (KOOL) closed DOWN – hit;
- Mesoblast (MESO) closed DOWN – miss;
- Opexa (OPXA) closed DOWN – hit;
- Intrexon (XON) closed UP – miss;
Out and about;
Applied Genetic Technologies (AGTC) is plodding back and forth ending down -$0.10 to $14.46 after many question pricing sustainability after Wednesday’s $14.56, Tuesday’s $13.97 and Monday’s 13.27 after last Friday’s $14.21. AGTC looks good with solid earnings, but the retail outlook is dismal compared to the firm’s prospects in both the short and near-term.
Asterias Therapeutics (NYSEMKT: AST)
… Dumped another -$0.04 to $5.02 after yesterday’s -$0.04 post jumping +$0.81 <after Tuesday’s +$0.65> post the announcement of a new CEO and board member. Interesting that it’s “parent” BioTime (NYSEMKT: BTX) sold 75,771 shares on 2/29/16
Bellicum Pharma (BLCM)
… Jumped up again +$0.08 to $10.53 after yesterday’s +$0.76 after advancing Tuesday’s +$0.67. It certainly needed to retrace its most recent pricing history;
Capricor (CAPR)
.. Jumped back and forth, ending +$0.06 to $2.25 after yesterday’s +$0.10 from Tuesdays -$0.35. Investors and traders SHOULD be getting smarter (?) as CAPR has just about ten (10) months of cash and the offering window is barely open. CAPR needs a financing – be READY!
Cesca Therapeutics (KOOL) is DOWN again -$0.0288 to $0.21 as it executes a reverse splits stock 1:20 …
… To regain compliance with NASDAQ listing requirements, this will be effective at 5:00 pm, March 4. Post-split shares will begin trading on Monday morning; 3/7/16.
Cytori Therapeutics (CYTX) closed basically FLAT at $0.21 to $0.21
… announcing financial results of Q4/15 with Q4/15 net loss allocable to common stockholders was $2.8 M, or a net loss of $5.4 M and $0.03 per share when excluding a non-cash charge of $2.7 M related to the change in fair value of warrant liabilities. Cytori continued to reduce its operating cash burn, spending approximately $4.5 M in Q4/15. CYTX ended 2015 with $14.3 M of cash and cash equivalents. Full year 2015 net loss allocable to common stockholders was $19.4 M, or a net loss of $26.4 M and $0.19 per share when excluding two non-cash charges - a $7.7 M gain related to the change in fair value of warrant liabilities and a $700 K charge related to the beneficial conversion feature for convertible preferred stock. Full year 2015 operating cash burn was $20.5 M, compared to $30.3 M in 2014.
Harvard Apparatus RT (HART)
… Stock is again feeling the uplift +$0.19 to $1.58 <after yesterdays +$0.06> to $1.58 after yesterday’s news of Laura Mondano joining the company as Vice President of Regulatory Affairs, a new position at HART to initiate an IND on their first product <of three>.
Juno Therapeutics (JUNO)
… was feeling the curse of an appreciating share price as speculators “nibbled” the appreciation -$2.03 to $40.71 after yesterday’s jump of +$2.82 after Tuesday’s +$4.75– its cash position of $1.22 Billion, no problems with a “runway” here.
Kite Pharma (KITE)
… was also feeling the curse of an appreciating share price as speculators “nibbled” the appreciation -$2.07 to $51.74 after the stock had risen +$2.61 after Tuesday’s +$6.48. The cash position yesterday was reported to be $614.7 M – another “runway” positive! MiMedx (MDXG +$0.43) and Osiris (OSIR +$0.17) …
Opexa (OPXA) closed down again -$0.25 to $2.04
… After yesterday’s drop of -$0.06 when it “axed” 30% of its workforce to extend “runway” into Q1/17.
Mesoblast (MESO) traded lower -$0.12 to $9.40
… After the weeks $9.52, $7.84 and Monday’s $6.54 hanging in there as all is better than last Friday’s $6.06.
Dosing the sector – what a day for the 43 Patients:
- The market opened: NEGATIVE with 23 decliners, 19 advancers and 1 flat;
- The mid-day (12:30 pm: NEGATIVE with 24 decliners, 17 advancers and 2 flats;
- Closing bell: NEGATIVE with 23 decliners, 18 advancers and 2 flats
Review my fear gauge or the CBOE Volatility Index (VIX) which is scary:
· Thursday traded below 17;
· Wednesday traded near 17, another decrease;
· Tuesday traded near 18 – 10% decrease;
· Monday traded below 20;
· Friday traded near 19.8;
· Last, Thursday traded near 20;
Riding the indexes and ETFs roller-coaster:
The iShares Biotechnology Stocks ETF (IBB) closed DOWN on Thursday -3.88 or -1.45%
· Wednesday +2.85 or +1.07%
· Tuesday +11.18 or +4.40%
· Monday -7.40 or -2.83%
The NASDAQ Biotechnology index (NBI) closed DOWN on Thursday -39.41 or -1.41%
· Wednesday +28.75 or +1.04%
· Tuesday +114.28 or +4.30%
· Monday -73.30 or -2.68%
The Russell 2000 (IWM) closed UP on Thursday +1.11 or +1.05%
· Wednesday +1.08 or +1.03%
· Tuesday +2.21 or +2.15%
· Monday -0.46 or -0.45%
The SPDR SD&P Biotech ETF (XBI) closed DOWN on Thursday -0.58 or -1.11%
· Wednesday +2.09 or +4.16%
· Tuesday +2.31 or +4.82%
· Monday -1.50 or -3.04%
Who was leading the declines – to of the bottom 5?
- Spark therapeutics (ONCE) closed down -$3.88 to $34.18;
- Kite Pharma (KITE) -$2.07 to $51.74;
- Juno Therapeutics (JUNO) -$2.03 to $40.70;
- uniQure (QURE) -$0.74 to $14.60;
- Avalanche Bio (AAVL) closed down -$0.37 to $5.33
Who was UP – top 5:
- Cellectis ADR (CLLS) closed up +$0.99 to $26.41;
- Stemline (STML) +$0.72 to $5.51;
- Intrexon (XON) +$0.26 to $37.28;
- Harvard Apparatus RT (HART) +$0.19 to $1.58;
- AxoGen *AXGN) closed up +$0.31 to $5.44
Who was FLAT?
- ReNeuron (RENE.L) at $2.875;
- VistaGen (VSTA) at $8.00
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.
