June 24, 2024 7:58am

More inflation readings, several reports that reveal more about the health of the housing market, as Friday brings the Core Personal Consumption Expenditures (PCE) price index; attention will also be on Thursday night’s presidential debate between President Biden and former President Trump,

Pre-open Indications: 2 Sell into Strength, 3 Positive and 1 Negative Indications

News: AxoGen (AXGN) launched its newest product, Avive+ Soft Tissue Matrix™. Avive+™ is intended for use as a soft tissue barrier and is a resorbable, multi-layer amniotic membrane allograft that provides temporary protection and tissue separation during the critical phase of peripheral nerve healing. REGENXBIO (RGNX) initiated enrollment in a new cohort of patients ages 1-3 in its P1/2 FFINITY DUCHENNE® trial to evaluate the safety and efficacy of RGX-202 in boys with Duchenne muscular dystrophy (Duchenne). Alnylam Pharmaceuticals (ALNY +^75.73 pre-open) announced positive topline results from its HELIOS-B P3 study of vutrisiran, an investigational RNAi therapeutic in development for the treatment of ATTR amyloidosis with cardiomyopathy (ATTR-CM).

A daily analytic read-out from RMi is constructed of specific warnings challenging share pricing situations

Never leave an investor uninformed

Remember that overnight and pre-open actions’ futures and markets doesn’t necessarily translate into actual trading in today’s market session.

My interpretation of the morning’s numbers is written to be informative; it’s built on what happened or will happen behind the headline today, not tomorrow or yesterday

 

Monday: The pre-open Dow futures are UP +0.25% or (+100 points), the S&P futures are UP +0.10% or (+5 points) as the Nasdaq futures are DOWN -0.05% or (-10 points)

Stock futures inched higher on Monday, June 24, 2024

European stocks were positive,

Asia-Pacific markets slipped.

 

Henry’omics:

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

Friday: The Dow closed UP +15.57 points or +0.04%, the S&P closed DOWN -8.55 points or -0.16% while the Nasdaq closed DOWN -32.23 points or -0.18%

The cell and gene therapy sector saw slim-to-a Friday solid gain this past week; however, the Nasdaq set a fresh all-time high as recently as Thursday morning; but there was some weakness late in the week.

Economic Data Docket:  Dallas Fed Index

 

RegMed Investors (RMi) <Friday's> Closing bell: “any which way was up today as triple witching covering pumped the cell and gene therapy sector” … https://www.regmedinvestors.com/articles/13509

 

Q2/24: 

June – 1 market holiday, 5 positive and 9 negative closes

  • May – 1 holiday, 11 positive and 11 negative closes
  • April - 16 negative and 6 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.

Insight is about understanding perception

Sell into Strength Indication:

Friday, Thursday, Wednesday was a market holiday, Tuesday and last Monday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)

Alnylam Pharmaceuticals (ALNY) closed up +$8.30 after Thursday’s +$3.54 after Tuesday’s -$3.44 and Monday’s -$3.09 with a positive +$65.73 or +39.8% pre-open

Vericel (VCEL) closed up +$0.34 after Thursday’s +$1.29 after Tuesday’s+$1.66, Monday’s -$0.58 and last Friday’s -$1.06 with a positive +0.83 or +1.84% pre-open.

 

Negative Indications:

Friday, Thursday, Wednesday was a market holiday, Tuesday and last Monday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)

Ultragenyx Pharmaceuticals (RARE) closed up +$1.58 after Thursday’s +$0.60 after Tuesday’s -$2.38 and Monday’s +$0.75 with a neutral pre-open.

 

Positive Indications:

Friday, Thursday, Wednesday was a market holiday, Tuesday and last Monday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)

Agenus (AGEN) closed down -$0.10 after Thursday’s +$0.58 after Tuesday’s -$1.31 and Monday’s -$1.16 with a positive +$0.23 or +1.58% pre-open

Beam Therapeutics (BEAM) closed up +$0.17 after Thursday’s -$0.13 after Thursday’s -$0.86, Tuesday’s -$0.84 and Monday’s -$0.37 with a positive +0.42 or +1.83% pre-open

BioLife Solutions (BLFS) closed up +$0.17 after Thursday’s +$0.87 after Tuesday’s -$0.29 after Monday’s +$0.05 and the previous Friday’s -$0.34 with a positive +0.28 or +1.33% pre-open.

 

The BOTTOM LINE: I feel the sector will appreciate yet after being down so many sessions: but I do not trust … into the week coming and ending Friday Q2.

The sector was positive on Friday seeming incessive based on “uncle algo and his electronic dwarf’s visit and a bit indecisive. It doesn't help that the Nasdaq is still somewhat extended while the Russell 2000 is below its 50-day line.

The Nasdaq rose less than one point but is now 6.7% above its 50-day line.; the small-cap Russell 2000 climbed 0.8%, but is still stuck below the 50-day.

 

I’m STILL not FEELING a bullish optimism --- it’s only an up party for visits from “uncle algo and his electronic trading dwarfs”!

 

Let get to 3 things that you need to know for Friday as you prep for the trading day …

  • 4th week coming … as Q2 comes to and end on Friday.
  • 3rd week of June, 3rd session … the cell and gene therapy sector experienced 1 positive and 3 negative closes with 1 market holiday
  • 2nd week of June, 5th session … negative closes on Friday and Thursday after Wednesday ascended positively as Tuesday drifted lower, retreating from Monday’s highs.
  • 1st week of June: Friday and Thursday ended in the toilet after Wednesday’s positive close Tuesday negative close following Monday’s positive close.

 

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.
  • I am more frequently right than consequentially wrong; if I wanted to be liked, I wouldn’t have been an analyst/journalist.

 

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.