September 7, 2023 7:36am
Skim if you can trim, buy if it will fly and sell if compelled!
Pre-open Indications: 4 Positive and 6 Sell into Strength Indications
News: Alnylam Pharmaceuticals (ALNY pre-open +$2.95) the KARDIA-1 P2 study of zilebesiran, an investigational RNAi therapeutic targeting liver-expressed angiotensinogen (AGT) in development for the treatment of hypertension, met the primary endpoint demonstrating a dose-dependent, clinically significant reduction in 24-hour mean systolic blood pressure (SBP) measured by ambulatory blood pressure monitoring (ABPM) at Month 3, achieving a placebo-subtracted reduction greater than 15 mmHg (p less than 0.0001) with both 300 mg and 600 mg doses. The study also met key secondary endpoints including significant change in 24-hour mean SBP as measured by ABPM at Month 6, as well as significant change in office SBP at Month 3 and Month 6, for all zilebesiran arms, compared to placebo. T
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Never leave an investor uninformed!
8:00 a.m. edition
Remember that overnight and pre-open actions in futures don't necessarily translate into actual trading in the coming day’s session. My interpretation of the morning’s numbers is written to be informative; it’s built on what will happen behind the headlines today, not tomorrow or yesterday
Dow futures are barely DOWN -0.06% or (-21 points), S&P futures are DOWN -0.39% or (-17 points) and NASDAQ futures are DOWN -0.72% or (-111 points) early in the pre-open – so far
U.S. futures were fluctuating and down on Thursday,
European markets were mixed,
Asia Pacific markets mostly lower.
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 fell on Wednesday … as the Dow closed DOWN – 198.78 or -0.57%, the S&P closed DOWN – 31.35 or -0.70% while the Nasdaq closed DOWN -148.48 points or -1.06%
The S&P 500 fell below its 50-day moving average with the Nasdaq paring losses right at the close to end above its 50-day. Meanwhile, the Dow Jones and Russell 2000 are now significantly below their 50-day lines. <IBD>
Higher Treasury yields added pressure to tech stocks and added to investor worry that the Federal Reserve will use recent stronger-than-expected economic data to justify pushing benchmark lending rates higher to squelch inflation. The yield on the 2-year Treasury note added as much as 6 basis points Wednesday. <CNBC>
Wednesday’s (9/6) RegMed Investors’ (RMi) closing bell: “a lack of sector friction flips with positive force. Another offset with value ascension over two (2) sessions of September’s three (3) as “uncle” algo visits with his electronic trading entourage.” … https://www.regmedinvestors.com/articles/13109
Ebb and flow:
Q3: September – 1 holiday, 2 positive and 1 negative closes
· August – 9 positive and 14 negative closes
· July - 1 holiday, 12 positive and 8 negative close
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
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 Indication:
Wednesday’s closing price, some Tuesdays, Monday was a market holiday following aftermarket dollar ($) and cent ($0.00) value and percentage (%)
Alnylam Pharmaceuticals (ALNY) closed up +$1.11 after Tuesday’s -$0.83 after Friday’s +$3.35, last Thursday’s +$0.66, the previous Wednesday’s +$2.70, Tuesday’s +$2.80 and Monday’s +$2.40 with a positive +$2.95 or +1.46% aftermarket indication on news.
Beam Therapeutics (BEAM) closed up +$0.98 after Tuesday’s +$0.22, Friday’s +$0.28, last Thursday’s -$0.33, the previous Wednesday’s -$0.21, Tuesday’s +$0.29 and Monday’s +$0.22 with a positive +$0.30 or +1.22% pre-open indication
Intellia Therapeutics (NTLA) closed up +$0.22 after Tuesday’s +$0.28 with a positive +$0.21 or +0.55% pre-open indication.
Verve Therapeutics (VERV) closed down -0.19 after Tuesday’s -$0.61 and Friday’s +$0.58, last Thursday’s -$0.25, the previous Wednesday’s +$0.30, Tuesday’s -$0.17 and Monday’s -$0.05 with a positive +$0.15 or +1.19% aftermarket indication.
Sell into Strength:
Wednesday’s closing price, some Tuesdays, Monday was a market holiday following aftermarket dollar ($) and cent ($0.00) value and percentage (%)
BioLife Solutions (BLFS) closed up +$0.28 with a positive +$0.36 or +2.60% aftermarket indication.
Blueprint Medicine (BPMC) closed up +$0.36 after Tuesday’s -$0.95 after Friday’s +$0.78, last Thursday’s +$0.56, the previous Wednesday’s +$0.45, Tuesday’s -$0.18 after Monday’s -$1.54 with a positive +$0.99 or +1.98% aftermarket indication.
CRISPR Therapeutics (CRSP) closed up +$0.83 after Tuesday’s -$0.27 and Friday’s +$0.50 with a negative -$0.19 or -0.37% pre-open indication
Ionis Pharmaceuticals (IONS) closed up +$0.45 after Tuesday’s -$1.16 with a negative -$0.59 or -1.48% aftermarket indication
Sage Therapeutics (SAGE) closed up +$0.07 after Tuesday’s +$0.28 after Friday’s +$0.29 with a negative -$0.27 or -1.31% aftermarket indication.
Ultragenyx Pharmaceuticals (RARE) closed up +$0.76 with a negative -$0.78 or -2.01% aftermarket indication.
The BOTTOM LINE:
I follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all, as I try to keep it simple and short!
The stock market suffered significant losses after the August ISM services index unexpectedly rose, pushing Treasury yields and Fed rate hike odds higher.
· The S&P 500 fell just below its 50-day moving average with the Nasdaq undercutting that key level intraday before just closing above it.
· The Dow and Russell 2000 slid further below their 50-day lines.
· The S&P 500 and Nasdaq also are not far from the lows of their Aug. 29 follow-through day. <IBD>
As I have stated last week, it is STILL a “musical chairs” game! Remember, risk is riskier … except when it isn’t!
Investors crave share pricing explanations because they give us an illusion of portfolio control. I know what a company is supposed to look like, be like, and smell like to succeed; bottom line, investors own the right to exit or enter sector’s share pricing.
My version of the morning’s “indications” is about what you need to know; it’s what could happen or materialize after the opening and what might happen during the session.
Timing is everything, “I learned very early (as a military officer), if you weren’t 5 minutes early for a meeting, you were 10 minutes late – follow my lead by being EARLY in portfolio deliberations.”
A lot of words … from “others” … yet: “Don't act like the sector is in an uptrend until the sector is actually in an uptrend.”
Where and when is value creation as we have slipped into September and the end of Q3??
Reiterating, “I am for a number of exits … with investors holding on to the railings for new reads on the well-being of the US economy as a dismal August draw to a close.
And, I am more frequently right than consequentially wrong
There's ALSO nothing wrong with standing pat in the short run, holding on to sizable existing exposure.
I hate to be so negative or contrarian but, this is a NO spin zone and truth is 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.
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.
