November 6, 2024 5:27pm

Wednesday’s surge in stocks is not just a reaction to a Trump victory, but also a relief that the election outcome is clear

However, the rally could lose some steam in the coming days as the excitement wears off

Today’s earnings: CRBU, RGNX, IONS, LENZ, SLDB and GBIO (below)

Never leave an investor uninformed!  

On point, short on words, long on facts and being judicious!

It’s hard to be right so often, it’s about defining insight. Who speaks out while standing in-front, beside and behind investors – RMi

 

RegMed Investors’ (RMi) pre-open: Trump wins and U.S. stocks rise in comeback… https://www.regmedinvestors.com/articles/13686

RegMed Investors (RMi) Research Note: Q3/24 earnings reporting dates, net losses, cash positions, revenue and runway outcomes … https://www.regmedinvestors.com/articles/13441

RegMed Investors (RMi) - Q3/24 Cell and Gene Therapy Earnings Scorecard Results… https://www.regmedinvestors.com/articles/11628

 

Wednesday: The Dow closed UP +1,508.05 points or +3.57%, the S&P closed UP +146.28 points or +2.53% while the Nasdaq closed UP +544.29 points or +2.95%

  • Indexes jumped on Wednesday to new strata as investors as traders

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 …

  • Bracing for the rate decision from the Fed on Thursday

Wednesday’s advance/decline line at the open was positive with 24 incliners, 9 decliners and 2 flats; ending with a positive close at the close of 26 incliner, 7 decliners and 2 flats

  • Cell and gene therapy sector jumped positive Wednesday and Tuesday after negative close on Monday

Metrics:  Wednesday, the IBB was up +1.06% and the XBI was UP +1.81% while the VIX was down -4.22 points or -20.60% at 16.27

 

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

Q4/24 November – 1 negative and 3 positive closes       

  • October: 8 positive and 15 negative sessions

Q3/24

  • September – 10 positive and 11 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

 

Earnings - today:

  • Ionis Pharmaceuticals (IONS) reported Q3/24 earnings, a net loss of -$140 M or -$0.95 per share, revenue was $134 M with a 2027 runway and a cash position of $2.5 B.
  • Lenz Therapeutics (LENZ) reported Q3/24 earnings, a net loss of -$10.2 M or -$0.39 per share, revenue was $139.4 M with a 2027 runway and a cash position of $217.2 M < a stock purchase $30 M agreement with Ridgeback Capital Investments, 7/24>
  • Caribou Biosciences (CRBU) reported Q3/24 earnings, a net loss of -$34.1 M or -$0.38 per share, revenue was $2 M with a 2026 runway and a cash position of $281 M
  • Solid Biosciences (SLDB) reported Q3/24 earnings, a net loss of -$32.7 M or -$0.79 per share, with a 2026 runway and a cash position of $171.1 M
  • Regenxbio (RGNX) reported Q3/24 earnings, a net loss of -$59.6 M or -$1.17 per share, revenue was $24.2 M with a 2026 runway and a cash position of $278.6 M
  • Generation Bio (GBIO) reported Q3/24 earnings, a net loss of -$15.3 M or -$0.23 per share, with a 2H/2027 runway and a cash position of $199.8 M

 

Wednesday’s Closing Down (7 of 7):

  • Ultragenyx Pharmaceuticals (RARE -$1.66 after Tuesday’s +$1.12),
  • Moderna (MRNA -$1.48 after Tuesday’s -$0.25 after Monday’s -$0.97),
  • Prime Medicine (PRME -$0.08),
  • Brainstorm Cell Therapeutics (BCLI -$0.08 after Tuesday’s -$0.12 after Monday’s -$0.09),
  • Mesoblast (MESO -$0.04 after Tuesday’s +$0.43 after Monday’s -$0.07),
  • Cellectis SA (CLLS -$0.03),
  • bluebird bio (BLUE -$0.013 after Tuesday’s -$0.0106),

Flat (2):

  • Harvard Apparatus RT (OTCQB: HRGN $0.00 after Tuesday’s -$0.40 after Monday’s +$0.;15),
  • Homology Medicine (FIXX)

Wednesday’s Closing Up (10 of 26):

  • Alnylam Pharmaceuticals (ALNY +$7,72 after Tuesday’s -$4.66 after Monday’s -$3.96),
  • Lenz Therapeutics (LENZ +$3.58),
  • Vericel (VCEL +$3.29 after Tuesday’s +$0.38 after Monday’s +$0.38),
  • Beam Therapeutics (BEAM +$2.69 after Tuesday’s -$0.43 after Monday’s +$1.43),
  • Blueprint Medicine (BPMC +$2.08 after Tuesday’s +$5.67 after Monday’s +$1.18),
  • uniQure NV (QURE +$1.10 after Tuesday’s +$0.50 after Monday’s -$0.30),
  • BioLife Solutions (BLFS +$0.68 after Tuesday’s +$0.36 after Monday’s +$1.49),
  • Voyager Therapeutics (VYGR +$0.63),
  • Intellia Therapeutics (BTLA +$0.63),
  • Regenxbio (RGNX +$0.51),

 

The BOTTOM LINE:  new month, 4th session … 3 positives and 1 negative close with more earnings’ sessions to “kick” November!

I CONTINUE to write about earnings’ season of concern, "I’m just not sure what's going to reignite share pricing SUSTAINABILTY as earnings season is about to … HIT with LPS (loss-per-share) expectation and consensus. "

  • Although, the wide dispersion of potential outcomes in elections, interest rates, and geopolitical situations globally has created volatility.

Looking ahead, brace for more market volatility!

Cell and gene therapy sector equities closed POSITIVE on Wednesday, Tuesday while negative on Monday after closing positive on Friday, November’s 1st session,

 

Sector LPS (loss-per-share) earnings are due and then it is time – to thin the ranks of some I.e., SELL before any collapse of share pricing.

  • FOCUS and be aware on those with development partners, runways and ATM usage

Also, be aware that portfolio managers will be addressing rotations as year comes to an end trying to be careful to spread them out over the last few months in Q4.

I keep writing about uncertainty and skepticism … and coming realities.

  • Even with the potential for some market hiccups along the way, the good news is Q4 has historically skewed positively, even as sector earnings kicked the bucket down the road!

 

Ranking the end of October:      

  • 11/6 – Wednesday: closed positive with 26 incliner, 7 decliners and 2 flats
  • 11/5 – Tuesday closed positive with 25 incliner, 8 decliners and 2 flats
  • 11/4 – Monday closed negative with 15 incliner, 18 decliners and 2 flats
  • 11/1 - Friday advance/decline line closed positive with 26 incliner, 7 decliners and 2 flats

 

The top three (3) performing in the session:    

  • Wednesday: Alnylam Pharmaceuticals (ALNY), Vericel (VCEL) and Lenz Therapeutics (LENZ)
  • Tuesday: Blueprint Medicine (BPMC), Ultragenyx Pharmaceuticals (RARE) and AxoGen (AXGN)
  • Monday: BioLife Solutions (BLFS), Beam Therapeutics (BEAM) and Blueprint Medicine (BPMC)

The worst three (3) in the session: 

  • Wednesday:
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Beam Therapeutics (BEAM) and Harvard Apparatus RT (OTCQB: HRGN)
  • Monday: Alnylam Pharmaceuticals (ALNY), Moderna (MRNA) and Voyager Therapeutics (VYGR)

 

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.