October 25, 2017 6:44pm
The sector is down in a count and hemorrhaging …
The cell therapy sector’s closed down 8 times over the last 10 sessions (of 43 covered companies)
Infection is the real danger as quarterly results hang in the balance
Pre-open indications: 7 hit and 2 miss
In the grip of rotating cycles and disparaging trends, what is the price of sector equities - knowledge and a subscription!
The way forward cannot be found in the practices and spending of the past as the sector is operating and defined by its own contradictions.
Wednesday’s results have implications to Thursday’s sector activity as a daily report may say little or a lot and it serves as insurance that all indications are being examined and evaluated!
Henry’omics:
From the pre-open’s newsletter, “we need to escape the ravages of the downside; there are just too many collisions of risk and sentiment while the oversold are also the victims of diminished volume and declining expectation.”
We are seeeing the ying and the yang of sentiment in relation to risk!
Based on momentum, right now is too early to buy - momentum is only one piece of the puzzle in forming a sensible outlook.
The advance/decline line scenario of 43 SCGT & RT covered companies:
· The open was negative with an A/DL of 15/24 and 4 flats;
· The mid-day was negative with an A/DL of 9/30 and 4 flat;
· The close was negative with an A/DL of 11/30 and 3 flats;
Pre-open indications: 7 hit and 2 miss
- Capricor (CAPR) closed up +$0.08 to $0.20 – hit;
- Cellectis SA (CLLS) closed up again +$0.56 – miss;
- Athersys (ATHX) closed down -$0.08 – hit;
- BioLife Solutions (BLFS) closed down -$0.92 – hit;
- Juno Therapeutics (JUNO) closed down -$1.43 – miss;
- Pluristem (PSTI) closed down - $1.98 – hit;
- Regenxbio (RGNX) closed up +$0.60 – hit;
- Spark Therapeutics (ONCE) closed down -$1.47 – hit;
- uniQure (QURE) closed down -$1.64 – hit;
Some of MY working trend lines or indications:
… The greatest volume to the downside: QURE, IMUC, SGMO, PSTI and XON
… Upside volume was weighted to: CAPR, MDXG, NWBO, VSTM and CLLS
… Biggest $ downside: BLUE (-$1.80), QURE (-$1.78), JUNO (-$1.43), ONCE (-$1.15) and BLFS (-$0.92)
… Largest $ upside: RGNX (+$0.60), CLLS (+$0.56), MDXG (+$0.37), CAPR (+$0.20) and AXGN (+0.15)
… Flat: BLCM and RENE.L
Daily analytics:
The S&P 500 and the Dow on Wednesday posted their biggest one-day declines in more than seven weeks on a string of disappointing earnings, even as the stock market pared early losses.
- The S&P 500 dropped 11.98 points, or 0.5%, to close at 2,557.15, with all 11 main sectors finishing lower.
- The Dow fell 112.30 points, or 0.5%, to end at 23,329.46, a day after closing at a record.
- The NASDAQ shed 34.54 points, or 0.5%, to 6,563.89.
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market; Wednesday traded at 11.27, up +0.63% …
- Tuesday traded at 11.10, up +0.27% after Monday traded at 10.87, up +9.03% after Friday traded at 9.95, down -1% after Thursday traded at 10.05, down -0.20% and last Wednesday traded at 10.07, down -2.33% …
Welcome to another day of the sector’s roller coaster …
… The iShares Russell 2000 (IWM) indicated:
· Wednesday was down -0.47%
· Tuesday +0.20%
· Monday -0.74%
· Friday+0.46%
· Thursday -0.13%
· Last Wednesday +0.47%
… The Russell 2000 (RUT) indicated
· Wednesday was down -0.46%
· Tuesday +0.20%
· Monday -0.77%
· Friday +0.48%
· Thursday -0.21%
· Last Wednesday +0.51%
… The iShares NASDAQ Biotechnology (IBB) indicated:
· Wednesday was down -1.14%
· Tuesday -0.78%
· Monday -1.22%
· Friday -0.99%
· Thursday -0.26%
· Last Wednesday -0.64%
The cell therapy sector’s closed down 8 times over the last 10 sessions (of 43 covered companies):
· Wednesday closed NEGATIVE with 30 decliners, 11 advancers and 2 flats;
· Tuesday closed NEGATIVE with 28 decliners, 10 advancers and 5 flats;
· Monday closed NEGATIVE with 24 decliners, 15 advancers and 4 flats;
· Friday closed POSITIVE with 11 decliners, 28 advancers and 4 flats;
· Thursday closed NEGATIVE with 24 decliners, 16 advancers and 3 flats;
· The previous Wednesday closed NEGATIVE with 23 decliners, 18 advancers and 2 flats;
· Tuesday closed barely POSITIVE with 19 decliners, 20 advancers and 4 flats;
· Monday closed NEGATIVE with 29 decliners, 11 advancers and 3 flats;
· Last Friday closed NEGATIVE with 32 decliners, 9 advancers and 2 flats;
· Thursday closed NEGATIVE with 23 decliners, 16 advancers and 4 flats;
The count - decliners versus gainers:
……. look at the differences in the spreads as decliners jump and %
· Wednesday’s decliners ranged from -0.23% <STML -$0.02> to -13.37% <BLFS -$0.92> in 30 equities;
· Tuesday’s decliners ranged from -0.95% <FATE -$0.04> to -8.28% <MDXG -$1.02> in 28 equities;
· Monday’s decliners ranged from -0.76% <KOOL -$0.03> to -11.37% <MDXG -$1.58> in 24 equities;
· Friday’s decliners ranged from -0.27% <ADRO -$0.03> to -6.67% <VCEL -$0.30> in 11 equities;
· Thursday’s decliners ranged from -0.11% <XON -$0.02> to -13.08% <VTGN -$0.17> in 24 equities;
· Last Wednesday’s decliners ranged from -0.43% <MDXG -$0.06> to -21.97% <BSTG -$0.019> in 23 equities;
Versus
… Look at the percentage’s (%) and spreads …
· Wednesday’s gainers ranged from +0.09% <NWBO +$0.0001> to +9.09% <CAPR +$0.20> in 11 equities;
· Tuesday’s gainers ranged from +0.60% <ISCO +$0.01> to +% <PSTI +$0.16> in 10 equities;
· Monday’s gainers ranged from +0.61% <ISCO +$0.01> to +11.31% <BSTG +$0.009> in 15 equities;
· Friday’s gainers ranged from +0.50% <AXGN +$0.10> to +27.11% <QURE +$4.11> in 28 equities;
· Thursday’s gainers ranged from +0.25% <BLUE +$0.35 > to +60.08% <QURE (+$5.69> in 24 equities;
· Last Wednesday’s gainers ranged from +0.09% < JUNO +$0.04> to +5.72% <BLFS +$0.33> in 18 equities;
Picking and sorting the week’s apples:
CAPR closed up +$0.21 0n news of a presentation on 11/15 after Tuesday’s -$0.08 after Monday’s -$0.02 after Friday’s -$0.11 - CAPR can’t keep fooling investors with their brand of hype – it will run down over the next weeks;
CLBS closed down again -$0.01 after yesterday’s -$0.;11 after Monday’s -$0.10 after being flat (Friday) at $3.39 – I keep hearing stories about why they can’t get out of their own way … VTGN closed down -$0.02 after Tuesday’s $1.04 after being down -$0.02 after Friday’s -$0.07 – ketamine is a horse drug combo?;
VCEL was down again -$0.05 after Tuesday’s -$0.10 after being up +$0.20– still believe is on an Icarus flight path … while AXGN was up +$0.15 after Tuesday’s flat again at $20.00 (Tuesday and Monday) … the merry-go-round turns – I’m still riding the horse; MDXG was down again -$1.02 after Monday’s -$1.58 after being up +$0.07 (Friday) – stay in;
HSGX closed up +$0.01 after Tuesday’s -$0.06 after Monday’s -$0.03 after Friday’s +$0.05 … I like the company i.e. still undervalued …
SGMO was down again -$0.75 after Tuesday’s -$0.25 post Monday’s +$0.15 while ONCE was down -$1.15 after being up +$1.08 after Monday’s +$1.82 – once it gets too rich it becomes a profit-taking target, right again;
BLUE was down -$1.80 after Tuesday’s +$0.90 after Monday’s -$2.20 … a soccer ball score or miss;
AGTC was down -$0.05 after being flat at $3.85 after Monday’s down -$0.20 … can’t escape the basement … is management is deaf to stockholders?
RGNX closed up +$0.60 after being down -$0.60 after Monday’s -$1.65 … I keep telling you to stay, right again;
Cellectis S.A. (CLLS) jumped again +$0.56 after Tuesday’s +$0.97 after Monday’s +$0.58 … if you stay on the merry-go-round, don’t wait for the music to stop;
AST was down again -$0.05 after yesterday’s -$0.15 after Monday’s -$0.10 while mothership BTX was also down another -$0.12 after Tuesday’s -$0.15 after Monday’s -$0.05 … both financed to prop their balance sheets
Immuno-oncologists - JUNO was down another -$1.43 after yesterday’s -$0.64 after Monday’s +$1.42; as VSTM was up +$0.02 after being down again -$0.10 after Monday’s -$0.07 after Friday’s flat at $3.95 – up, down, round and round;
STML was down again -$0.02 after being -$0.18 after Monday’s -$0.10; while ADRO dropped another -$0.10 after Tuesday’s -$0.25 after Monday’s -$0.45 as BLCM was flat at $10.05 after yesterday’s -$0.12 after Monday’s -$0.22 … it’s a ride with expectation in the wind;
ATHX closed down another -$0.08 after being -$0.03 after Monday’s flat at $1.99 … there are even MORE question re their cash position going forward as their clinical “manufacturing” batch issues and patent might be solved but, how are they going to pay for the future. Another I told you so …
FATE was down again -$0.19 after yesterdays -$0.04 after Monday’s +$0.03 – hangs in;
MESO was down again -$0.52 after Tuesday’s -$0.40 after Monday’s +$0.10– still waiting for some news, as I had stated time to be accumulating on dips…
PSTI was down -$0.02 after being up +$0.16 after Monday’s +$0.07 - wait for the downside signal, it always comes and it did, right again!
QURE closed down -$1.68 after yesterday’s up +$0.26 after Monday’s down -$0.75 after Friday’s +$4.11 to $19.47 following Thursday’s +$5.69 ($15.16) – an Icarus candidate (?) - An offering was proposed on Monday, surprised by the upside – right as an offering dropped the pricing?
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.
