April 24, 2024 4:37pm

More frequently right than consequentially wrong

As I wrote this (7.49 a.m.), It’s “make” a buck day! Skim if you can trim, buy if it will fly and sell if compelled as I BELIEVE a “wobble” IS coming.” It came …

A 360-degree review of the who, why, when and what happened in the sector as the market and economics surround your portfolio’s defense or offence.

Last week, I wrote that I favor … caution over the next few weeks!  Sticking to MY position.

Never leave an investor uninformed! A trusted source of factual reporting!

 

The present and future value of RegMed Investors (RMi) NEWS sheds light on the stem, cell and gene therapy sector’s risks to share pricing and the sector’s upside acrobatics and potential downslides.

I write this blog/newsletter about – facts in evidence! 

 

Wednesday: The Dow closed DOWN -42.77 points or -0.11%, the S&P closed UP +1.08 points or +0.02% while the Nasdaq closed UP +16.11 points or +0.10%

 

Henry’omics:

We need to more than consider the economic environment - rising rates and inflation to comprehend the micro re “our” universe of cell and gene therapy companies …

Indexes were mixed as interest rate fears dampened the enthusiasm stemming from some corporate earnings.

The benchmark 10-year Treasury note yield was last up 6.4 basis points at 4.662%. Its 2-year counterpart advanced 3.8 basis points to 4.943%.

Rate concerns remerged on Wednesday, with part of the pressure on equities spurred in part by auctions of 2-year and 5-year Treasury notes, according to R.J. O’Brien and associates managing director Tom Fitzpatrick.

Economic Data Docket: Orders for long-lasting goods increased a seasonally adjusted 2.6% in March, up sharply from the downwardly revised 0.7% gain in February and in line with consensus estimate. New orders for items such as appliances, computers and aircraft rose for the second month in a row, but rose just 0.2% when excluding transportation, which jumped 7.7%. Nondefense aircraft and parts orders surged 30.6% on the month. Durable goods orders increased 0.3% from a year ago,

 

Wednesday’s RegMed Investors’ (RMi) opening bell: “It’s “make” a buck day! Skim if you can trim, buy if it will fly and sell if compelled as I BELIEVE a “wobble” IS coming.” … https://www.regmedinvestors.com/articles/13431

 

Advance/Decline (A/D) Line:

  • Wednesday’s advance/decline line at the open was neutral with 17 incliner, 17 decliners and 1 flat; ending with a negative close of 9 incliners, 25 decliners and 1 flat

 

Ebb and flow of MY covered sector cell and gene therapy session daily “endings”:

Q2/24: 14 negative and 4 positive closes

Q1/24:

  • March, 1 holiday, 8 positive and 12 negative closes
  • February, 1 holiday, 9 negative and 11 positive closes
  • January: 2 holiday, 12 negative and 8 positive closes

 

All-time low:

  • uniQure NV (QURE) at $4.56

 

Key Metrics:

The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:

  • Wednesday, the IBB was down -0.20% and the XBI was down -0.89%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Wednesday was up +0.29 point or +1.86% at 15.98

 

Wednesday’s Closing Down (10 of 25):

  • Alnylam Pharmaceuticals (ALNY -$2.27 after Tuesday’s +$0.28 after Monday’s +$1.38),
  • Ultragenyx Pharmaceuticals (RARE -$1.84 after Tuesday’s +$1.42 after Monday’s +$1.32),
  • Adverum Biotechnologies (ADVM -$0.81 after Tuesday’s -$0.34),
  • CRISPR Therapeutics (CRSP -$0.76 after Tuesday’s +$0.75 after Monday’s +$0.61),
  • Beam Therapeutics (BEAM -$0.73 after Tuesday’s -$0.66),
  • Intellia Therapeutics (NTLA -$0.36 after Tuesday’s -$0.23),
  • Solid Biosciences (SLDB -$0.34),
  • Vericel (VCEL -$0.31 after Tuesday’s +$1.04 after Monday’s +$1.64),
  • Verve Therapeutics (VERV -$0.30),
  • Generation Bio (GBIO -$0.27 after Tuesday’s +$0.45 after Monday’s -$0.05),

Flat (1):

  • Harvard Apparatus RT (OTCQB: HRGN)

Wednesday’s Closing Up (9 of 9):

  • Sage Therapeutics (SAGE +$1.05),
  • Agenus (AGEN +$0.96 after Tuesday’s +$0.69 after Monday’s +$0.46),
  • Ionis Pharmaceuticals (IONS +$0.61 after Tuesday’s +$0.77 after Monday’s +$0.39),
  • Mesoblast (MESO +$0.22 after Tuesday’s +$0.47),
  • BioLife Solutions (BLFS +$0.17),
  • Regenxbio (RGNX +$0.14 after Tuesday’s +$0.26)
  • Brainstorm Cell Therapeutics (BCLI +$0.02 after Tuesday’s -$0.015),
  • Precigen (PGEN +$0.02 after Tuesday’s $0.00)
  • Homology Medicine (FIXX +$0.0071),

 

Q2/24 – April:

  • Wednesday closed negative with 9 incliners, 25 decliners and 1 flat
  • Tuesday closed positive with 23 incliners, 11 decliners and 1 flat
  • (4/22) Monday closed positive with 26 incliners, 6 decliners and 3 flats

 

The BOTTOM LINE:  As I stated Tuesday, “CAUTION … take it if you can get it!” and this a.m. I wrote “It’s “make” a buck day! 

  • Skim if you can trim, buy if it will fly and sell if compelled as I BELIEVE a “wobble” IS coming.” – RIGHT yet again …

I do get preachy at times …

Today is another example of the sector being what it is, until it isn’t and even then, it doesn’t seem to be … that is after taking a deep breath and holding it

  • Don't get excited; indexes and the cell and gene therapy sector need strong gains before signaling an end to appreciation in follow-through sessions

 

On the docket this week would be the price consumption expenditure (PCE) index reading for March - the Fed's preferred inflation gauge - to further ascertain the monetary policy trajectory.

  • Q1/24 GDP results and the Personal Income and Outlays for March; both are considered vital data points for the Fed. Economists expect the inflation index to rise slightly to 2.6% after February's 2.5% gain on an annual basis.

 

Q1/24 Reporting Season, it’s all about LPS (loss-per-share), cash positions and runways:

  • Sage Therapeutics (SAGE) on 4/25;
  • MiMedx (MDXG) on 4/30,
  • Alnylam Pharmaceuticals (ALNY),
  • AxoGen (AXGN)
  • Blueprint Medicine (BPMC) on Thursday, 5/2;
  • Ionis Pharmaceuticals (IONS) and Agenus (AGEN) on Tuesday, 5/7
  • Vericel (VCEL) on Wednesday, 5/8

 

Reiterating:  Is Agenus (AGEN preparing for an offering … $300 common stock, preferred stock, warrants and debt securities … Shelf Filing … Post Effective Amendment … reasoning for the Share Reverse?

https://d18rn0p25nwr6d.cloudfront.net/CIK-0001098972/2aeed437-11b5-4133-be70-d8c22ec43843.pdf

  • A sales agreement prospectus supplement that covers the potential offering, issuance and sale from time to time of up to 134,512,851 shares of Agenus’ common stock pursuant to a sales agreement with B. Riley Securities, Inc. (formerly B. Riley FBR, Inc.).
  • The base prospectus immediately follows this explanatory note. The sales agreement prospectus supplement immediately follows the base prospectus.
  • Upon termination of the sales agreement with B. Riley Securities, Inc., any amounts included in the sales agreement prospectus supplement that remain unsold will be available for sale in other offerings pursuant to the base prospectus, and if no shares are sold under the sales agreement, the full amount of this registration statement may be sold in other offerings pursuant to the base prospectus and a corresponding prospectus supplement.

Agenus (AGEN) shares jumped Wednesday +$0.96 post Tuesday’s +$0.39, Monday’s $5.70, Friday’s $5.31 +$0.34 after last Thursday’s -$0.43.

  • 4/12, a stock reverse of 1/20 split
  • Notice how AGEN is pushing its earnings release much earlier then is has in past!

 

The top three (3) performing in the session:  

  • Wednesday: Sage Therapeutics (SAGE), Agenus (AGEN) and Ionis Pharmaceuticals (IONS)
  • Tuesday: Blueprint Medicine (BPMC), Ultragenyx Pharmaceuticals (RARE) and Vericel (VCEL)
  • Monday: Blueprint Medicine (BPMC), Alnylam Pharmaceuticals (ALNY) and Vericel (VCEL)

The worst three (3) in the session:

  • Wednesday: Alnylam Pharmaceuticals (ALNY), Ultragenyx Pharmaceuticals (RARE) and Adverum Biotechnologies (ADVM)
  • Tuesday: Beam Therapeutics (BEAM), Fate Therapeutics (FATE) and Intellia Therapeutics (NTLA)
  • Monday: Sage Therapeutics (SAGE), Graphite BIO (GBIO) and bluebird bio (BLUE)

 

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!”

 

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. 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.