September 6, 2017 7:18am
Should I be afraid; was but nope, been there, seen one and felt the dread
So watch, wait, listen and then execute your unit of measurement just like firing a weapon
Depends on the distance, the wind speed and resistance as well as the elevation and devaluation
The cracking sound you hear is value, like any trajectory there is still “the feel” as Verastem (VSTM) could light up the sector
Preview RMi's morning call. You’d be reading this if you were a SUBSCRIBER!
Pre-open indications: 1 BUY and 4 SELLs
Out and about: Verastem (VSTM) is up +$1.06 or +27.60% to $4.90 after its drug to treat certain types of blood cancer met the main goal of a late-stage study.
Critical pre-market indications ahead of “our” universe’s open!
Critical pre-market indications ahead of “our” universe’s open!
Flat to lower open expected
Dow futures are UP +0.03% and NASDAQ futures are UP +0.15%
U.S. stock index futures pointed to a flat to cautiously higher open on Wednesday, as investors tried to brush off any concerns surrounding amplified tensions between the West and North Korea, and look to upcoming key data.
European markets were lower, tracking Wall Street's slide overnight amid a backdrop of lingering geopolitical tension.
Asia markets were in decline, following the fall on Wall Street, as investors remained jittery about North Korea.
Data docket: international trade is due out at 8.30 a.m. ET, followed by the PMI services index at 9.45 a.m. ET and the ISM non-manufacturing report at 10.00 a.m. ET. Along with the routine mortgage applications due to be released at 7.00 a.m. ET, the Quarterly Financial Report for the second quarter is due out at 10 a.m. ET. Another big major data point is set to be released at 2.00 p.m. ET, which is the latest publication of the Federal Reserve's Beige Book.
Issues that affect the trading day: Geopolitical concerns have resurfaced once again this week, after news emerged on Sunday that North Korea had conducted its sixth and most powerful nuclear test yet. A test which the Asian country claimed was of an advanced hydrogen bomb for a long-range missile. The news not only spooked markets worldwide in previous days …
The cell therapy sector closed NEGATIVE on Tuesday, was closed on Monday, a holiday; having closed POSITIVE on Friday, Thursday and last Wednesday.
The cell therapy sector’s record over the last 5 sessions (of 43 covered companies):
· Tuesday closed NEGATIVE with 27 decliners, 13 advancers and 3 flats;
· Monday was a holiday and the markets were closed in observance of Labor Day;
· Friday closed POSITIVE with 14 decliners, 27 advancers and 2 flats;
· Thursday closed POSITIVE with 14 decliners, 27 advancers and 2 flats;
· Last Wednesday closed POSITIVE with 14 decliners, 26 advancers and 3 flats;
Henry ’omics:
As I had stated in Tuesday evening’s post, “…another bubble has burst
As Investors and algorithms rotate on news of Cellectis SA (CLLS) as two P1 trials of its leukemia treatment were put on hold after a fatality was reported. Trading volume is all over the map but generally low to the upside, as traders return from a Labor Day weekend, adding to a downturn in the already fragile sentiment.”
Reiterating, I keep saying caution should be practiced as entrance at premium prices based on past week’s news was HARD” … but is SOFTENING and should not be chased as investors shouldn’t be all-in long!
You’ve made it to the office, turned on the monitor, having just gotten your coffee and it hits you - what could be today’s trades?
Watch list:
The iShares Nasdaq Biotechnology (IBB) closed down -0.83% on Tuesday with Wednesday’s pre-market NOT indicating;
The SPDR S&P Biotech ETF (XBI) closed Tuesday down -0.76% with Wednesday NOT indicating a in the pre-market;
The Health Care Select Sector SPDR ETF (XLV) closes down -0.43% on Tuesday and is NOT indicating in Wednesday’s pre-open;
The iShares Russell 2000 (IWM) closed down -0.81% on Tuesday and is indicating a POSITIVE +0.19% in Wednesday pre-open
Companies in my headlights:
Applied Genetic Technologies (AGTC) closed down -$0.20 to $4.50 with 201.4 K shares traded <3 month aver = 189.9 K shares>. The CMO just resigned and an “interim” – always a sign of future problems and still NO Q4 or FY17 results yet, possibly on the 13th … New CFO and legal’ what we should be seeing is a new CEO who can communicate to shareholders, NOT locked-in a corporate office with a PR team that can’t communicate, if they ever try – Maintaining SELL;
bluebird bio (BLUE) closed down -$5.40 to $125.45 with 2.05 M shares traded after Friday’s $130.85 (+$6.00) with 2.423 M shares traded <3 month volume = 1.07 M shares> after Thursday’s $124.85 (+$12.35) with 2.78 M shares traded. The aftermarket indication is a negative -$2.85 or -2.18%. It’s been a great week which started out at $106.30 after last Friday’s $97.85 with the previous week starting at $92.45 and August opened at $89.15. The Celgene (CELG) partnership rules the future but, why should they buy at this premium pricing. They will also be hurt by CLLS’ failures. Always a contrarian by practicing safety on being too long – Maintaining SELL;
Cellectis SA (CLLS) closed down -$6.52 to $25.66 following Friday’s $32.18 (+$3.42) and Thursday’s $28.76 (+$0.52). Yesterday, CLLS received notice from the U.S. FDA that a clinical hold was placed on both UCART123 ongoing P1 studies, respectively in acute myeloid leukemia (AML) and in blastic plasmacytoid dendritic cell neoplasm (BPDCN). Cellectis is working closely with the investigators and the FDA in order to resume the trials with an amended protocol including a lowered dosing of UCART123. The pre-market indication is a NEGATIVE -$10.01 or -31.11% - Maintaining SELL;
Juno Therapeutics (JUNO) closed up +$0.76 to $32.68 after Friday’s $41.95 (+$0.65) and Thursday’s $41.27 (+$0.98). So much for the KITE and NVS news, Always a contrarian, there is a 32.19% premium ($15.09) in the share since August 17th.The aftermarket indication is a negative -$1.29 or -3.08% - Maintaining SELL;
Sangamo Therapeutics (SGMO) closed down -$0.70 to $13.66 n 3.21 M shares traded < the 3 month average = 1.423 M shares> after Friday’s $14.25 (+$0.90) on solid 5 M shares traded after Thursday’s $13.35 (. +$0.50) with 1.6 M shares traded >. The month has seen lows of $8.40 and last Friday’s high of $14.25 having opened the month at $8.45. The price is resting on the laurels of KITE and NVS and a Pfizer (PFS) collaboration but, why should it pull a trigger to buy if it has a strangle hold on anyone else intruding on their deal. The aftermarket indication is a negative -$0.05 or -0.37% - Maintaining SELL;
Verastem (VSTM) closed down -$0.08 to $3.84 after Friday’s $3.92 (+$0.02), Thursday’s $3.90 (+$0.05), Wednesday’s $3.85 (+$0.42), Tuesday’s $3.43 (+$0.05) and last Monday’s $3.28 (-$0.01). VSTM announced the expansion of its duvelisib development program to include targeting the treatment of patients with Peripheral T-Cell Lymphoma (PTCL). Duvelisib has been granted Fast Track designation by the U.S. Food & Drug Administration (FDA) for the treatment of patients with PTCL who have received at least one prior therapy. Duvelisib, Verastem’s lead drug candidate, is an oral inhibitor of phosphoinositide-3-kinase (PI3K)-delta and PI3K-gamma being investigated for the treatment of hematologic cancers, including chronic lymphocytic leukemia (CLL)/small lymphocytic lymphoma (SLL), indolent non-Hodgkin lymphoma (iNHL) and other T cell lymphomas. The pre-market indication is POSITIVE +$1.06 or +27.60%; it had been expected - BUY
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.
