Indication intelligence, analysis and sector perception

RegMed Investors (RMi) Closing Bell: a tug-of-war of share pricing losses as sentiment melts

June 4, 2024 4:37pm

One of my usual questions, are we facing a prisoner’s dilemma - a situation wherein algorithms acting with electronic trading interest achieve an outcome for this sector’s investor group

Pre-open Indications: 3 Hits and 1 Miss

There’s a difference between trust and conviction. Trust is something you can rely on, beyond certainty. Conviction doesn't demand that you, or anyone else, play by the rules. After gains, there is pain.

Never leave an investor uninformed!

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

I answer or qualify the sector’s equity’s share pricing mobility; with an emphasis on which company is gaining or losing stride in your portfolio for the short and near-term

Tuesday: The Dow closed UP +140.26 points or +0.36%, the S&P closed UP +7.94 points or +0.15% while the Nasdaq closed UP +28.38 points or +0.17%

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 closed up after being down most of the session after weak JOLTS data.

Economic Data Docket: Job openings fell in April to their lowest level since February 2021 as the labor market shows further signs of rebalancing. New data from the Bureau of Labor Statistics showed 8.05 million openings at the end of April, a decrease from the 8.35 million open jobs in March.

All-time Low:

Sage Therapeutics (SAGE) at $10.67

RegMed Investors’ (RMi) pre-open post: “Memo to Investors: what goes Up will come DOWN, Expectation will be the word for June; meeting the unknowns with soon to be known will be the subject of investing decisions through these summer months”

https://www.regmedinvestors.com/articles/13485

Advance/Decline (A/D) Line:

Tuesday’s advance/decline line at the open was negative with 14 incliner, 17 decliners and 4 flats; ending with a negative close of 13 incliners, 19 decliners and 3 flats

Monday’s advance/decline line at the open was positive with 29 incliner, 2 decliners and 4 flats; ending with a positive close of 18 incliners, 14 decliners and 3 flats

Pre-open Indications: 3 Hits < Beam Therapeutics (BEAM -$0.04), Ionis Pharmaceuticals (IONS +$1.28), Agenus (AGEN +$0.53)> and 1 Miss <Vericel (VCEL -$0.38)>

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

June: 1 positive and 1 negative closes
May: 1 holiday, 11 positive and 11 negative closes

April: 16 negative and 6 positive closes

Key Metrics:

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

Tuesday, the IBB was down -0.01% and the XBI was down -0.27%
Monday, the IBB was up +1.21% and the XBI was up +2.57%

The CBOE Volatility Index (VVIX: INDEX) tracked:

Tuesday was up +0.05 point or +0.38% at 13.16
Monday was up +0.20 point or +1.55% at 13.12

Tuesday’s Closing Down (10 of 18):

Blueprint Medicine (BPMC -$2.95 after Monday’s -$0.72),
Alnylam Pharmaceuticals (ALNY -$0.69 after Monday’s +$2.02),
Regenxbio (RGNX -$0.44 after Monday’s +$0.41),
Sage Therapeutics (SAGE -$0.43),
Solid Biosciences (SLDB -$0.40),
Lenz Therapeutics (LENZ -$0.40 after Monday’s -$0.21),
Vericel (VCEL -$0.38 after Monday’s -$1.35),
BioLife Solutions (BLFS -$0.35 after Monday’s -$0.22),
Intellia Therapeutics (NTLA -$0.27 after Monday’s +$2.14),
Adverum Biotechnologies (ADVM -$0.23 after Monday’s -$0.17),

Flat (3):

Bellicum Pharmaceuticals (BLCM) – dropped)
Harvard Apparatus RT (OTCQB: HRGN – its 11^th flat session in a row)
Homology Medicine (FIXX) – under $1.00

Tuesday’s Closing Up (10 of 14):

Ionis Pharmaceuticals (IONS +$1.28 after Monday’s +$1.20),
CRISPR Therapeutics (CRSP +$1.12 after Monday’s +$3.41),
Agenus (AGEN +$0.53 after Monday’s +$1.28),
Editas Medicine (EDIT +$0.34),
Mesoblast MESO +$0.20 after Monday’s -$0.06),
MiMedx (MDXG +$0.16 after Monday’s -$0.05),
uniQure NV (QURE +$0.09 after Monday’s +$0.38),
Precigen (PGEN +$0.09),
Generation Bio (GBIO +$0.06 after Monday’s -$0.12),
AxoGen (AXGN +40.04)

Q2/24 – June

Tuesday closed negative with 13 incliners, 19 decliners and 3 flats
(6/3) Monday closed positive with 18 incliners, 14 decliners and 3 flats

The BOTTOM LINE: The cell and gene therapy sector pooped the bed on Tuesday as investors weighed signs the US economy might be starting to show cracks.

Reiterating, “Net-net I am still expecting a bumpy ride for US equities as we enter the month of June.”

The top three (3) performing in the session:

Tuesday: CRISPR Therapeutics (CRSP), Ionis Pharmaceuticals (IONS) and Mesoblast (MESO)
Monday: CRISPR Therapeutics (CRSP), Intellia Therapeutics (NTLA) and Alnylam Pharmaceuticals (ALNY),

The worst three (3) in the session:

Tuesday: Blueprint Medicine (BLMC), BioLife Solutions (BLFS) and Lenz Therapeutics (LENZ)
Monday: Blueprint Medicine (BLMC), Vericel (VCEL) and Caribou Biosciences (CRBU)

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.

35 companies, 1 interpreter!

Insight, foresight and recommendation

My motto … never leave an investor uninformed! I say today what others won’t, so you can do what others can’t.

My name is Henry McCusker; I endorse these opinions under my own name and with a subscription based membership.

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Editor and Publisher ... Henry McCusker enters his tenth (10th) year at RegMed Investors with past experience in sell-side analysis, buy-side management, corporate management and due diligence.

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The facts stated and the opinions given in this publication are based on data and information considered to be reliable and have been carefully worked into my qualitative analyses and prognoses. However, no guarantee can be given as to their fairness, accuracy or completeness.

Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.