September 9, 2024 4:33pm

Regaining ground, lost after the August jobs report slip reported

Focus is now on a fresh consumer inflation print due Wednesday; followed by the read-out on pricing from the producer inflation report on Thursday, the last inflation inputs before the Fed's policy decision on Sept. 18

The Harvard Apparatus RT (OTCQB: HRGN) Chronicles: Ponzi Scheme, a Madoff look-a-like or just a PRC, Communist China “infiltration” strategy? Share pricing gets flipped as DST Capital gets a “lashing” after priming the pump of volume to add pricing to the recent private placement of outstanding stock? <-$0.52 or -10.83% with 1,122 shares traded after Friday’s +$0.73 with 4,500 shares traded>

I say today what others won't, so you can do what others can't by sticking to the FACTS!

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 +484.18 points or +1.20%, the S&P closed UP +62.63 points or +1.16% while the Nasdaq closed UP +193.77 points or +1.16%

  • Friday: The Dow closed DOWN -410.34 points or -1.01%, the S&P closed DOWN -94.99 points or -1.73% while the Nasdaq closed DOWN -436.83 points or -2.55%

 

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 jumped on Monday after investors bought the dip following worst week of the year, betting that a likely Fed rate cut later this month would bolster a slowing economy.

  • A short-term bounce after more than a bit of oversold last week
  • “Monday’s rally comes after last week’s serious losses in the first trading week of September, which is historically a tough month for equities after the August jobs report stoked fears of a slowing labor market.
  • The S&P 500 averages a 0.7% decline in September, the worst track record of any month, according to the Stock Trader’s Almanac.” <CNBC>
  • Bracing for a busy week of inflation-related data releases. On Wednesday, the highly anticipated Consumer Price Index (CPI) report is due, followed by Initial Jobless Claims and Producer Price Index (PPI) data on Thursday

 

Monday’s advance/decline line at the open was positive with 24 incliners, 7 decliners and 4 flats; ending with a positive close at the close of 24 incliner, 8 decliners and 3 flats

  • Friday’s advance/decline line at the open was negative with 6 incliners, 26 decliners and 3 flats; ending with a negative close at the close of 4 incliner, 29 decliners and 2 flats

 

Metrics:

Monday, the IBB was up +1.25% and the XBI was up +1.44% while the VIX was down -2.87 points or down -12.82% at 19.51

  • Friday, the IBB was down -1.41% and the XBI was down -1.59% while the VIX was up +2.48 points or up +12.46% at 22.38

 

RegMed Investors’ (RMi) pre-open: “a sea of red last week after so much selling, the cell and gene therapy sector may be due (after 4 negative sector closings) for a bounce but it doesn't have to be all on Monday but slow upside moves will motivate “uncle algo and his electronic trading dwarfs” to “rule” in. After the stock market rally suffered its worst weekly losses in more than year.” … https://www.regmedinvestors.com/articles/13606

 

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

Q3/24

  • September – 1 positive and 4 negative closes
  • August: 1 neutral, 10 positive and 11 negative closes
  • July: 1 market holiday. 1 day off, 6 negative, 1 neutral and 12 positive closes

 

Monday’s Closing Down (8 of 8):

  • Vericel (VCEL -$1.33 after Friday’s -$1.88),
  • BioLife Solutions (BLFS -$0.67 after Friday’s -$0.94),
  • Harvard Apparatus RT (OTCQB: HRGN -$0.52 after Friday’s +$0.73),
  • Editas Medicine (EDIT -$0.08 after Friday’s +$0.10),
  • Regenxbio (RGNX -$0.08 after Friday’s -$0.10),
  • Sage therapeutics (SAGE -$0.06),
  • uniQure NV (QURE -$0.05),
  • Generation Bio (GBIO -$0.01),

Flat (3):

  • AxoGen (AXGN),
  • Bellicum Pharmaceuticals (BLCM)
  • Homology Medicine (FIXX)

Monday’s Closing Up (10 of 24):

  • Alnylam Pharmaceuticals (ALNY +$6.38 after Friday’s -$4.70),
  • Ionis Pharmaceuticals (IONS +$1.44 after Friday’s -$1.26),
  • Ultragenyx Pharmaceuticals (RARE +$0.56 after Friday’s -$1.21),
  • LENZ Therapeutics (LENZ +$0.39),
  • CRISPR Therapeutics (CRSP +$0.25 after Friday’s -$0.63),
  • Adverum Biotechnologies (ADVM +$0.20),
  • Agenus (AGEN +$0.18),
  • Compass therapeutics (CMPX +$0.16),
  • Sangamo Therapeutics (SGMO +$0.157),
  • Solid Biosciences (SLDB +$0.13),

 

The BOTTOM LINE: The 2nd week’s Monday start closed positive following the 1st short week of September ending with 4 negative closes - a bust!

Volatility was in our favor today, Monday … as the Nasdaq shimmied by +0.48% in a comeback from last week's trading volatility

  • After having to contend with September's seasonal volatility, as the cell and gene therapy sector equities were the poster child for risk.

As I had stated, “uncle algo and his electronic trading dwarfs” made the session!

 

Quotes to ponder:

 "I don't think the volatility (^VIX) is over yet. I think we're going to bounce around, but I don't think we're going to have a sustainable trend in either direction. I don't think volatility necessarily means disaster, right? That's not what we're saying here. What we're saying is expect the markets to be choppy. Over the next few months, investors will be mostly trading on data points since the next round of earnings won't be until mid-October.” < Gradient Investments senior portfolio manager Jeremy Bryan”

“If Wednesday's Consumer Price Index (CPI) inflation numbers comes in better than expected, the Fed will likely move "slow and steady" with its interest rate cutting cycle, if they need to pick up and get more aggressive as we move through the rest of this year or into next year, they can always do that. But I just don't see the real need to make that move just yet.” < Miller Tabak managing director and equity strategist Matt Maley>

 

Are we prepared for … another dive in share pricing?

 

The top three (3) performing in the session: 

  • Monday: Alnylam Pharmaceuticals (ALNY), Ionis Pharmaceuticals (IONS) and Ultragenyx Pharmaceuticals (RARE)
  • Friday: Harvard Apparatus RT (OTCQB: HRGN), Editas Medicine (EDIT) and Regenxbio (RGNX)

The worst three (3) in the session: 

  • Monday: Vericel (VCEL), BioLife Solutions (BLFS) and Blueprint Medicine (BPMC)
  • Friday: Blueprint Medicine (BPMC), Alnylam Pharmaceuticals (ALNY), and Vericel (VCEL)

 

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.