September 12, 2024 4:39pm

Drawing non-injuring offensive share pricing gets thumped and takes a dive to the mat

As I wrote, “Investors are more holding on to their portfolio, tending to IGNORE corrections in the market or volatility, I believe!”

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.”

 

Thursday: The Dow closed UP +235.33 points or +0.58%, the S&P closed UP +41.63 points or +0.75% while the Nasdaq closed UP +174.15 points or +1%

  • Continuing to shake off a tough start to September and bought the dip in stocks in anticipation of a rate cut by the Fed next week

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 positive …
  • The latest Conference Board Consumer Confidence Survey shows Americans are still under pressure from high prices, as necessities like food are straining budgets and wallets. <Yahoo Finance>
  • Weekly jobless claims data released Thursday also reflected a marginal increase in the number of individuals filing for unemployment benefits, rising to 230,000 for the week ending Sept. 7.

Wednesday’s advance/decline line at the open was negative with 22 incliners, 10 decliners and 3 flats; ending with a negative close at the close of 16 incliner, 17 decliners and 2 flats

  • Cell and gene therapy sector again seesawed in trading

Metrics:  Thursday, the IBB was down -0.04% and the XBI was up +0.16% while the VIX was down – 0.54 points or down -3.05% at 17.15

 

RegMed Investors’ (RMi) pre-open: “keep your portfolio in the draw after seeing lean positive upside swings; investors should remain neutral hanging-back maybe, watching if or for any follow-on opportunities.” … https://www.regmedinvestors.com/articles/13613

 

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

Q3/24

  • September – 3 positive and 5 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

 

Thursday’s Closing Down (10 of 17):

  • Blueprint Medicine (BPMC -$2.46 after Wednesday’s +$0.57 after Tuesday’s -$0.56),
  • Ionis Pharmaceuticals (IONS -$1.51 after Wednesday’s +$0.14 after Tuesday’s -$5.94 after Monday’s +$1.44),
  • Regenxbio (RGNX -$0.53 after Wednesday’s +$0.92 after Tuesday’s +$0.39 after Monday’s -$0.08),
  • LENZ Therapeutics (LENZ -$0.47 after Wednesday’s -$2.82 after Tuesday’s -$0.25 after Monday’s +$0.39),
  • Verve Therapeutics (VERV -$0.22 after Wednesday’s +$0.26),
  • Alnylam Pharmaceuticals (ALNY -$0.18 after Wednesday’s +$5.70 after Tuesday’s +$3.05 after Monday’s +$6.38),
  • Fate Therapeutics (FATE -$0.14),
  • Sage Therapeutics (SAGE -$0.13 after Wednesday’s +$0.14 after Tuesday’s -$0.09 after Monday’s -$0.06),
  • Voyager Therapeutics (VYGR -$0.06),
  • Prime Medicine (PRME -$0.06),

Flat (2):

  • Bellicum Pharmaceuticals (BLCM)
  • Homology Medicine (FIXX)

Thursday’s Closing Up (10 of 16):

  • Ultragenyx Pharmaceuticals (RARE +$1.50 after Wednesday’s +$0.61 after Tuesday’s -$0.08 after Monday’s +$0.56),
  • BioLife Solutions (BLFS +$1.09 after Wednesday’s -$0.52 after Tuesday’s +$0.59 after Monday’s -$0.67),
  • Vericel (VCEL +$0.57),
  • CRISPR Therapeutics (CRSP +$0.45 after Wednesday’s -$0.15, Tuesday’s +$0.72 and Monday’s +$0.25),
  • Intellia Therapeutics (NTLA +$0.43),
  • AxoGen (AXGN +$0.29),
  • Agenus (AGEN +$0.29 after Wednesday’s +$0.18 after Tuesday’s +$0.33 after Monday’s +$0.18),
  • Beam Therapeutics (BEAM +$0.28 after Wednesday’s +$0.47),
  • Solid Biosciences (SLDB +$0.23 after Wednesday’s -$0.37, Tuesday’s -$0.38 after Monday’s +$0.13),
  • Mesoblast (MESO +$0.19)

 

The BOTTOM LINE: The 2nd week’s Thursday’s positive was considered a follow-on upside after Wednesday’s sector gained altitude after Tuesday dropped the sector in the puddle after Monday’s closed positive

  • following the 1st short week of September ending with 4 negative closes - a bust!

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

  • Are we prepared for … a BIGGER dive in share pricing?
  • As I had stated, “uncle algo and his electronic trading dwarfs” made the 2 upside sessions, this week!

 

Been a busy week as I continue write and to rebuild the sun room over the past 3 days and last Friday with new porch stairs and today a tongue and groove flooring. If any one made money, it was Loews.

 

Quote to ponder: staying … relevant!

 "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”

 

The top three (3) performing in the session: 

  • Thursday: Ultragenyx Pharmaceuticals (RARE), BioLife Solutions (BLFS) and Vericel (VCEL)
  • Wednesday: Alnylam Pharmaceuticals (ALNY), Regenxbio (RGNX) and Ultragenyx Pharmaceuticals (RARE)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), CRISPR Therapeutics (CRSP) and BioLife Solutions (BLFS)
  • Monday: Alnylam Pharmaceuticals (ALNY), Ionis Pharmaceuticals (IONS) and Ultragenyx Pharmaceuticals (RARE)

The worst three (3) in the session: 

  • Thursday: Blueprint Medicine (BPMC), Ionis Pharmaceuticals (IONS) and Regenxbio (RGNX)
  • Wednesday: Lenz Therapeutics (LENZ), BioLife Solutions (BLFS) and Solid Biosciences (SLDB)
  • Tuesday: Ionis Pharmaceuticals (IONS), Blueprint Medicine (BPMC) and Solid Biosciences (SLDB) 
  • Monday: Vericel (VCEL), BioLife Solutions (BLFS) and Blueprint Medicine (BPMC)

 

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.