March 7, 2024 7:56am
Which future share pricing increases or decreases as algorithms and electronic trading set the “tone”
News: Solid Biosciences (SLDB +$0.25) announced a non-exclusive worldwide license and collaboration agreement with Armatus Bio (private) for the use of Solid’s proprietary capsid AAV-SLB101 for the development and commercialization of Armatus’ vectorized RNAi candidate to treat Facioscapulohumeral muscular dystrophy (FSHD).
Pre-open Indications: 2 Negative and 2 Positive Indications
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Remember that overnight and pre-open actions’ futures and global markets doesn't necessarily translate into actual trading in the today’s market session.
If you’re looking for sector intel, ideas and facts or Insight in a volatile climate, RMi provides the extenuating factors of share pricing.
Thursday: The pre-open Dow futures are UP +0.15% or (+57 points), the S&P futures are UP +0.29% or (+15 points) as the Nasdaq futures are UP +0.47% or (+84 points)
Stock futures inched higher Thursday,
European markets turned higher,
Asia Pacific markets were mixed.
Henry’omics:
We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …
Wednesday marked the first positive day this week for any of the three major indexes after the 3 notched two straight days of declines as the Dow closed UP +75.86 points or ++0.20%, the S&P closed UP +26.11 points +0.51% while the Nasdaq closed UP +91.96 points or +0.58%.
Economic Data Docket: jobless claims data, and trade balance and consumer credit data for January.
Wednesday’s night RegMed Investors (RMi) Closing Bell: “a need for share pricing consistency to retain investors staying power. Financings, clinical data and expectation are going to be the drivers of what's to happen.” … https://www.regmedinvestors.com/articles/13359
Q1/24: march – 2 positive and 2 negative closes
- February – 1 market holiday, 11 positive and 9 negative closes
- January: 2 holidays, 11 negative and 8 positive closes
Companies in my headlights – It’s your decision; I provide ideas and context:
I post about “indication intelligence” devoting my time to collection and analysis of information to assist investors with insight into sector vulnerabilities and strengths. A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.
Positive Indications:
Wednesday, Tuesday, Monday, Friday and last Thursday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Ultragenyx Pharmaceuticals (RARE) closed up -$0.21 after Tuesday’s -$1.84 with a positive +$0.56 or +1.09% pre-open indication
Verve Therapeutics (VERV) closed down -$0.07 after Tuesday’s -$0.70 and Monday’s -$0.45 with a positive +$0.39 or +2.59% pre-open indication
Negative Indications:
Wednesday, Tuesday, Monday, Friday and last Thursday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Beam Therapeutics (BEAM) closed down -$0.23 after Tuesday’s +$0.27 and Monday’s -$1.60 with a negative -$0.15 or -0.39% pre-open indication.
Blueprint Medicine (BPMC) closed up +$0.71 after Tuesday’s -$1.13 and Monday’s -$4.32 with a negative -$0.38 or -0.42% pre-open indication.
The BOTTOM LINE: Play in and Sell out...
The cell and gene therapy sector equities popped on Wednesday after diving on Tuesday and Monday after Friday’s pop after Thursday’s dive after last Wednesday decent.
- The sector rebounded Wednesday (closed positive with 21 incliners, 14 decliners and 0 flat), but ended up regaining only a portion of Tuesday's sharp losses (closed negative with 5 incliners, 29 decliners and 1 flat), Monday’s (closed negative with 6 incliners, 27 decliners and 2 flats) decline, Friday’s (closed positive of 23 incliners, 10 decliners and 2 flats) followed Thursday’s (closed negative with 7 incliners, 26 decliners and 2 flat)
The remainder of the month’s trading sessions will be critical as the RegMed sector continues earnings’ in LPS (loss-per-share) season, estimates and consensus which set market reaction and will report “runways” and those whose cash positions render their future questionable.
21 (of 35 covered companies) have reported …14 are left to release earnings of my covered group.
RegMed Investors (RMi) Research Note: Q4/23 earnings reporting dates, net losses, cash positions and runway outcomes … https://www.regmedinvestors.com/articles/13166
I STILL reiterate, “Don't chase the cell and gene therapy sector.”
Short and non-sweet: SELL into STRENGTH – accumulate some “powder” i.e., cash!
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From Wednesday’s market:
- Major indexes closed higher on Wednesday as economic data and comments from Federal Reserve Chair Jerome Powell reinforced expectations that the U.S. central bank would reduce its benchmark interest rate this year. <Reuters>
- The Nasdaq is not extended from the 50-day line but it wouldn't take much for it to get there.
- The small-cap Russell 2000 bounced 0.7% after sliding 1% Tuesday.
- The 10-year Treasury yield fell 3 basis points to 4.1%. The two-year Treasury yield, more closely aligned with Fed policy, edged up 1 basis point to 4.56%. Markets see a 70% chance of a June rate cut, down fractionally from Tuesday. <IBD>
Welcome to my world of defining the “grey’ in our universe!
- Right up front, “I also hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I can always be WRONG but … I am mostly EARLY!”
- The sector is what it is, until it isn’t and even then, it doesn’t seem to be… as NOT much changes as the sector’s share pricing rides the waves of volatility, algorithms, electronic trading and short covering.
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. All investments are subject to risks. Investors should consider investment objectives.
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. 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 its 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.
Henry McCusker, the editor and publisher of RegMed Investors could hold or have positions securities referred to in this publication and he will NOTIFY investors of holdings.
