January 17, 2024 7:22am

News: REGENXBIO (RGNX -$0.27 pre-open indication) announced positive interim data from the P2 AAVIATE® trial of ABBV-RGX-314 for the treatment of wet age-related macular degeneration (wet AMD) using suprachoroidal delivery. ABBV-RGX-314, being developed in collaboration with AbbVie (ABBV), also being investigated as a potential one-time gene therapy for the treatment of diabetic retinopathy and other chronic retinal conditions.

Pre-open Indications: 1 Sell into Strength, and 6 Negative Indications

Who is defining the metrics for investors and keeping you notified of the sector and market fluctuations?  What RMi provides is a trusted source of share pricing intelligence. Join me … in the NO spin zone!

Never leave an investor uninformed!

Remember that overnight action in a.m. futures and global markets doesn't necessarily translate into actual trading in the today’s market session.

I make a commitment to provide need-to-know “facts in evidence” as an equity’s volatility is one tactical signal for stocks. My thesis is important in trying to distinguish the temporary from real pricing digression or progression.

I also follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”

 

Tuesday: The pre-open Dow futures are DOWN -0.42% or (-157 points), the S&P futures are DOWN -0.42% or (-20 points) as the Nasdaq futures are DOWN -0.47% (-79 points)

Stock futures were lower in pre-market trading on Wednesday,

European markets opened in negative territory,

Asia Pacific markets tumbled extending losses.

 

Henry’omics:

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

Tuesday, Indexes dived as the Dow closed DOWN -231.86 points or -0.62%, the S&P closed DOWN -17.85 points or -0.37% while the Nasdaq closed DOWN -28.41 points or -0.19%

Economic Data Docket: Wednesday's retail sales data as mortgage demand surges …

  • Retail sales are expected to rise 0.4% in December, an increase from the 0.3% gain in November, as US consumers continue to power a surprisingly durable economic expansion.
  • Retail sales’ numbers could fuel recessionary fears and concerns about economic growth if U.S. consumer spending sees a cooldown.
  • Mortgage demand surges; the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.75% from 6.81%. Applications for a mortgage to purchase a home rose 9% for the week. Applications to refinance a home loan increased 11% compared with the previous week.

 

Tuesday, RegMed Investors (RMi) Closing Bell: “rock-in the limbo dance. How low will it go after 6 negative and 3 positive closes so far in January 2024.” … https://www.regmedinvestors.com/articles/13287   

 

Q1/24: 2 holidays, 7 negative and 3 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.

 

Negative Indications:

Tuesday, Monday’s holiday, Friday, Thursday’s and last Wednesday following Tuesday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Alnylam Pharmaceuticals (ALNY) closed down -$5.90 after Friday’s -$1.69, Thursday’s -$1.53, last Wednesday’s -$1.59, and the previous Tuesday’s +$1.37 with a negative -$0.49 or -0.26% pre-open indication.

Cellectis SA (CLLS) closed down -$0.12 with a negative -$0.10 or -3.61% as it announced a draw-down from its €40 million credit facility of €15 million.

Ionis Pharmaceuticals (IONS) closed down -$2.51 after Friday’s -$0.01, Thursday’s +$1.34, last Wednesday’s -$0.67, and the previous Tuesday’s +$0.56 with a negative -$0.19 or -0.37% pre-open indication

Prime Medicine (PRME) closed down -$0.98 with a -$0.02 or -0.29% pre-open indication

REGENXBIO (RGNX) closed up +$0.14 with a negative -$0.27 or -1.77% pre-open indication on news of positive interim data for the treatment of wet age-related macular degeneration (wet AMD) using suprachoroidal delivery. <see title>

Verve Therapeutics (VERV) closed down $0.23 with a negative -$0.04 or -0.32% pre-open indication.

 

Sell-into-Strength Indication:

Tuesday, Monday’s holiday, Friday, Thursday’s and last Wednesday following Tuesday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Vericel (VCEL) closed up +$0.96 after Friday’s +$0.85 and Thursday’s +$0.06 with a positive +$0.01 or +0.03% pre-open indication.

 

The BOTTOM LINE: it’s now the 3nd week of 2024, we have eaten more value that even almost exceeded the last months of 2023.

  • (1/16)Tuesday closed negative with 8 incliners, 25 decliners and 1 flat
  • Monday was market holiday
  • (1/12) Friday closed negative with 13 incliners, 21 decliners and 1 flat
  • Thursday closed negative with 8 incliners, 26 decliners and 1 flat
  • Wednesday closed negative with 14 incliners, 21 decliners and 0 flat
  • Tuesday closed negative with 14 incliners, 18 decliners and 3 flats
  • (1/8) Monday closed positive with 28 incliners, 6 decliners and 1 flat

 

For the next few weeks, if you're buying on weakness, you might be jumping onto a sinking ship even as … Q4 and FY23 earnings LPS (loss-per-share) are due even though some highlights were delivered to facilitate JPM presentations – there are consensus and beaten estimates to be reckoned!

 

Pricing for gene therapies will continue to dominate share ascensions and downfalls!

  • It's also a good idea to take some profits, especially if you didn't do so in past sessions. <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.