June 24, 2024 4:49pm

Due to sector volatility tied to negative versus positive closes; be alert to the 2024 election debate, Friday’s PCE release as well as the end of Q2 and 1st half for the next sector decline

News from a.m.: Alnylam Pharmaceuticals (ALNY closed up +$57.20 or +34.5%) after its heart drug performed well in a late-stage clinical trial; the drug, vutrisiran, significantly reduced rates of death and recurrent heart events—both when paired with the existing standard treatment, tafamidis, and when taken alone—in a P3 trial,

I say today what others won't, so you can do what others can't!

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.”

 

Monday: The Dow closed UP +260.88 points or +0.67%, the S&P closed DOWN -16.75 points or -0.31% while the Nasdaq closed DOWN -192.54 points or -1.09%

 

RegMed Investors’ (RMi) pre-open post: “what will “rock” this final week of May and end of Q2? 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.” … https://www.regmedinvestors.com/articles/13510

 

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 mixed as “artificial intelligence has lifted the market significantly this year even as investors grappled with shifting expectations for rate cuts and a slowing economy. The S&P 500 has advanced almost 15% this year after notching 31 record closes.” <CNBC>

The S&P 500 and Nasdaq notching fresh all-time highs even as they dived as heading into the final week of June and end of Q2 and 1st H of 2024.

 

Metrics & Advance/Decline (A/D) Line:

Monday’s advance/decline line at the open was positive with 22 incliner, 9 decliners and 4 flats; ending with a positive close of 24 incliners, 8 decliners and 3 flats

•              the IBB was up +1.91% and the XBI was up +1.60%

•              the VIX was up +0.13 point or +0.98% at 13.33

Friday’s advance/decline line at the open was positive with 21 incliner, 9 decliners and 5 flats; ending with a positive close of 22 incliners, 10 decliners and 3 flats

•              the IBB was up +1.21% and the XBI was up +2.77%

•              the VIX down -0.08 point or -0.60% at 13.20

 

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

  • June: 1 market holiday, 6 positive and 9 negative closes

 

Monday’s Closing Down (8 of 8):

  • Lenz Therapeutics (LENZ -$0.28 after Friday’s +$0.35),
  • Mesoblast (MESO -$0.23 after Friday’s -$0.18),
  • Ultragenyx Pharmaceuticals (RARE -$0.18 after Friday’s +$1.58)
  • MiMedx (MDXG -$0.07),
  • uniQure NV (QURE -$0.05),
  • Voyager Therapeutics (VYGR -$0.03 after Friday’s +$0.30),
  • Editas Medicine (-$0.03),
  • Verve Therapeutics (VERV -$0.01),

Flat (3):

  • Bellicum Pharmaceuticals (BLCM) – dropped)
  • Caribou Biosciences (CRBU)
  • Homology Medicine (FIXX) – under $1.00

Friday’s Closing Up (10 of 24):

  • Alnylam Pharmaceuticals (ALNY +$57.20 after Friday’s +$8.30
  • Ionis Pharmaceuticals (IONS +$2.85 after Friday’s +$1.02),
  • Beam Therapeutics (BEAM +$1.89 after Friday’s -$0.10),
  • Blueprint Medicine (BPMC +$1.87 after Friday’s -$0.98)
  • CRISPR Therapeutics (CRSP +$1.70 after Friday’s -$3.36),
  • Vericel (VCEL +$1.19 after Friday’s -$0.35) 
  • Intellia Therapeutics (NTLA +$0.78),
  • Regenxbio (RGNX +$0.77),
  • Agenus (AGEN +$0.67 after Friday’s +$0.99),
  • BioLife Solutions (BLFS +$0.51),

 

The month to date:

  • Monday ended with a positive close of 24 incliners, 8 decliners and 3 flats
  • Friday ended with a positive close of 22 incliners, 10 decliners and 3 flats

 

The BOTTOM LINE: investors need to reassess their portfolio strategies… as I had stated:

  • We are also about to see share pricing rotation or profit taking as Q2 and 1stH (first half) ends this Friday and sector companies prepare for LPS (loss-per-share) quarterly earnings releases.
  • So, what are share pricing themes that investors can be comfortable with for a short or near- term time horizon i.e., Q3?
  • Small caps ended off highs for the day, but the Russell 2000 still rose 0.7%.

 

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

  • 4th week—1 positive close
  • 3rd week of June, the cell and gene therapy sector experienced 1 market holiday, 3 negative closes and ended Friday with a positive close as options were covered
  • 2nd week of June … 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.

 

Alnylam Pharmaceuticals (ALNY) had a great session …

  • Shares rocketed Monday after experimental heart-disease treatment vutrisiran topped expectations in a highly anticipated study.
  • It helped patients with ATTR amyloidosis with cardiomyopathy, a disease where abnormal protein builds up on the heart and causes damage. Vutrisiran reduced death for any reason by 36%.

 

The top three (3) performing in the session:   

  • Monday: Alnylam Pharmaceuticals (ALNY), Ionis Pharmaceuticals (IONS) and Beam Therapeutics (BEAM)

The worst three (3) in the session:   

  • Monday: Lenz Therapeutics (LENZ), Ultragenyx Pharmaceuticals (RARE) and Mesoblast (MESO)

 

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 it’s 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.