July 23, 2024 7:51am

As July moves on, the risk to share pricing and economic data is now greater in respect to inflation, as markets trend in fluctuating directions and earnings appear

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

A daily analytic read-out from RMi is constructed of signals thought-provoking share pricing situations

History is quite clear that extended valuations aren't tolerated over the long run.

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

 

Tuesday: The pre-open Dow futures are UP +0.10% or (+39 points), the S&P futures are UP +0.11% or (+6 points) as the Nasdaq futures are UP +0.03% or (+6 points)

  • Futures were positive and low with traders readying for earnings reports on Tuesday, 7/25
  • European markets inch higher,
  • Asia-Pacific markets traded mixed

 

Henry’omics:

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

Monday: The Dow closed UP +127.91 points or +0.32%, the S&P closed UP +59.41 points or +1.08% while the Nasdaq closed UP +280.63 points or +1.58%

Economic Data Docket: Richmond Fed Manufacturing Index, July (-7 expected, -10 prior); Existing home sales month-over-month, June (-2.7% expected, -0.7% previously)

 

RegMed Investors (RMi) Closing bell: “rebound as algos and electronic trading buy in. However, prepare for further and added market volatility.” … https://www.regmedinvestors.com/articles/13559

 

Q3/24:

  • July: 1 market holiday. 1 day off, 5 negative, 1 neutral and 8 positive closes

Q2/24: 

  • June – 1 market holiday, 7 positive and 1 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.

Sell into Strength:

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

Ionis Pharmaceuticals (ION) closed up +$2.79 after Friday’s +$0.49 with a neutral aftermarket

Beam Therapeutics (BEAM) closed up $1.11 after Friday’s +$0.48 after Thursday’s -$1.47, Wednesday’s -$0.36, Tuesday’s +$1.67 and Monday’s -$1.28 as CFO departs with a positive +$0.20 or +0.74% aftermarket

Solid Biosciences (SLDB) closed up +$0.51 after Friday’s +$0.42 after Thursday’s -$1.11, Wednesday’s -$0.73, Tuesday’s +$1.08 and Monday’s +$0.65 with a neutral aftermarket

 

Positive Indications:

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

Ultragenyx Pharmaceuticals (RARE) closed up +$1.91 after Friday’s -$0.23 after Thursday’s -$1.11 and Wednesday’s -$1.38 with a positive +$0.87 or +1.96% aftermarket

 

Negative Indications:

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

Agenus (AGEN) closed up +0.86 after Friday’s -$1.31 after Thursday’s -$11.43 after Wednesday’s +$0.01 after Tuesday’s +$2.10 with a negative -$0.16 or -2.34% aftermarket

Intellia Therapeutics (NTLA) closed up +$0.25 after Friday’s -$1.01, Thursday’s -$1.27, Wednesday’s +$0.01 and Tuesday’s +$1.34 with a negative -$0.15 or -0.59% aftermarket

BioLife Solutions (BLFS) closed up +$0.66 after Friday’s -$0.43 after Thursday’s -$1.06 with a neutral aftermarket

 

The BOTTOM LINE: The 3 major indexes closed higher on Monday. Investors kept a close eye on Washington as they digested the news that President Biden dropped out of the 2024 presidential race and endorsed VP Harris to be his successor… or did he?

  • A key driver for stocks lately has been investor confidence in who the next president will be. As odds rose in betting markets that former President Donald Trump would win November's election, stocks also rose. When Trump's odds peaked around July 16, the S&P 500 hit its most recent high. <Yahoo Finance>

 

The cell and gene therapy sector started this week well i.e., with a positive close …

  • Stocks appeared to shrug off worries related to the election, with the S&P 500 rising over 1% on Monday.
  • The risks aren't hard to find with the US presidential election looming.
  • A stock market pullback is more than overdue, according to some market data.
  • And a resilient economy continues to straddle the fine line between normalization from pre-pandemic trends and the start of a broader slowdown.

 

For the balance of the month, investors will focus most on share pricing in regard to earnings EPS and meeting expectations!

 

July week to date: advance/decline lines …

  • Monday ended with a positive close of 28 incliners, 4 decliners and 3 flats
  • Friday ended with a negative close of 10 incliners, 23 decliners and 2 flats
  • Thursday ended with a negative close of 3 incliners, 30 decliners and 2 flats
  • Wednesday ended with a negative close of 4 incliners, 29 decliners and 2 flats
  • Tuesday’s advance/decline line ended with a positive close of 30 incliners, 2 decliners and 3 flats
  • (7/15) Monday ended with a positive close of 21 incliners, 9 decliners and 6 flats
  • Friday ended with a positive close of 22 incliners, 11 decliners and 2 flats
  • Thursday ended with a positive close of 31 incliners, 2 decliners and 2 flats
  • Wednesday ended with a positive close of 23 incliners, 10 decliners and 2 flats
  • Tuesday ended with a positive close of 19 incliners, 12 decliners and 4 flats
  • (7/8) Monday ended positive with 24 incliners, 8 decliners and 3 flats
  • Friday ended with a neutral close of 16 incliners, 16 decliners and 3 flats
  • Thursday was a market holiday
  • Wednesday was a day off
  • Tuesday ended with a negative close of 6 incliners, 19 decliners and 3 flats
  • (7/1) Monday ended with a negative close of 13 incliners, 19 decliners and 3 flats

 

Earnings “dates” are DUE soon for Q2 LPS (loss per-share) boding releases:

  • Sage Therapeutics (SAGE) on Wednesday, 7/31
  • MiMedx (MDXG) on Wednesday, 7/31
  • Vericel (VCEL) on Thursday, 8/1
  • Alnylam Pharmaceuticals (ALNY) on Thursday, 8/1
  • Blueprint Medicine (BPMC) on Thursday, 8/1
  • Ionis Pharmaceuticals (IONS) Thursday, 8/1

 

Watch the “numbers, charts and indicators” measure the daily, weekly, and monthly charts can filter out or lessen the noise of back-and-forth share pricing from sector rotation.

  • The short-term moving averages help you identify the momentum of the trend — that is, overbought or oversold

 

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 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.

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.