March 12, 2025 7:46am

As the economic dust settles

Breaking: The consumer price index, a wide-ranging measure of costs across the U.S. economy, ticked up a seasonally adjusted 0.2% for the month, putting the annual inflation rate at 2.8%. Excluding food and energy prices, core CPI also rose 0.2% on the month and was at 3.1% on a 12-month basis. Economists had been looking for 0.3% increases on both headline and core, with respective annual rates of 2.9% and 3.2%, meaning that all of the rates were 0.1% point less than expected.

While the RegMed sector suffers the tourist routine … most traders hear a piece of news, contemplate a pumping to buy after a dumping to sell and then back to the pump. 

News: Ionis Pharmaceuticals (IONS) and Ono Pharmaceutical Co., Ltd (Ono), have entered into a license agreement in which Ono obtains exclusive global rights for the development and commercialization of sapablursen, an investigational RNA-targeted medicine for polycythemia vera (PV), a rare and potentially life-threatening hematologic disease. Sapablursen is currently being evaluated in adults living with PV in the fully enrolled P2 IMPRSSION study. Sapablursen was granted Fast Track designation and orphan drug designation in 2024 by the FDA.

No false narratives or fake news; to read insights and analysis on the latest sector action, check out Pre-Open Brief …

Never leave an investor uninform

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 to make “it” happen today!

 

Tuesday’s night’s … RegMed Investors (RMi) Closing Bell: a late afternoon BUYING spree lifts the sector positive… https://www.regmedinvestors.com/articles/13836

 

Wednesday; the pre-open Dow futures are UP +0.81% or (+338 points), the S&P futures are UP +1.21% or (+67 points) and the Nasdaq futures are +1.56% or (+302 points)

  • Stock futures ticked higher Wednesday, 3/12
  • European markets were 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

Tuesday: The Dow closed DOWN -478.23 points or -1.14%, the S&P closed DOWN -42.49 points or -0.75% while the Nasdaq closed DOWN -32.22 points or -0.18%

Economic Data Docket: the consumer price index reading for February.

  • Economists expect the CPI rose 0.3% last month and they anticipate headline inflation grew 2.9% from 12 months earlier.

 

Q1/25:  March sessions with 2 positive and 5 negative closes

  • February – 1 holiday, 11 negative and 8 positive closes
  • January – 2 holidays, 1 market close, 10 negative and 10 positive closes

Q4/24:

  • December 1 holiday, 15 negative and 5 positive closes
  • November 10 negative and 9 positive closes
  • October: 8 positive and 15 negative closes

 

Companies in my headlights – It’s your decision; I provide ideas and context

I post about “indication intelligence” looking toward investment conferences … 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.

  • Better part of valor to not lead any investor to temptation; yet again, I am passing on forecasting the daily indications as to expectation while the aftermarket blanked while the pre-open waits for the …  econs, it is still a mix of ups, downs and just uncertainty.

 

The BOTTOM LINE: New week, the 2nd of March and 2nd session with a surprise afternoon breaking positive close following Monday’s negative sector close.

  • Last Friday, 3/7 – the 5th NEGATIVE session in the week intermingled by 1 POSITIVE (Wednesday) close in a new month of March … so, what moves stock pricing?
  • As I have written, “uncle algo and his trading dwarfs” will determine the heights or lows of share pricing”

The S&P 500 on Monday fell below its 200-day moving average—a "key technical indicator" and gauge of market momentum—for the first time since 2023.

  • An index crossing below its 200-day moving average can reflect either short-term volatility or the beginning of a prolonged slump.

For the week: so far …

  • The S&P 500 is down 198.13 points, or 3.4%.
  • The Dow is down 1,368.24 points, or 3.2%.
  • The Nasdaq is down 760.13 points, or 4.2%.
  • The Russell 2000 is down 51.89 points, or 2.5%.

March to date: 

  • 3/11 - Tuesday closed positive with 23 positive, 11 negative and 1 flat
  • 3/10 – Monday closed negative with 3 positive, 31 negative and 1 flat
  • 3/8 – Friday closed negative with 14 positive, 17 negative and 4 flats
  • 3/6 – Thursday closed negative with 16 positive, 18 negative and 1 flat
  • 3/5 – Wednesday closed positive with 25 positive, 9 negative and 1 flat
  • 3 /4 – Tuesday closed negative with 15 positive, 18 negative and 2 flats
  • 3/3 – Monday closed negative with 2 positive, 31 negative and 2 flats

Reiterating, “I think it's important just to take a step back, focus on the fundamentals, be selective. I mean, this has definitely been a “sucky” January and February from a stock-picker standpoint given the up/downs. And so, I am relatively neutral across today/Friday’s equity strategy.

  • Reiterating, “Take the emotion out of the sector, think of the reality of the “plays” that exist of who’s really buying.”

It’s STILL earnings season “sparking” a quarterly life crisis…

  • Cell and Gene therapy earnings continue to be important; LPS (loss per share), revenue uplifts and lags, clinical progress with some program uncertainty, a dearth all followed by estimate misses
  • The coming batch of quarterly earnings will provide last years, FY2024’s LPS (loss-per-share), some EPS, consensus meets and non-greets, cash positions, runways and partner status for investors

Earnings are here … from Q4/24 and FY24 … my view will follow, has been busy and personally eventful!

  • Cellectis SA (CLLS) – Thursday, 3/13
  • Sangamo Therapeutics (SGMO), Monday, 3/17

 

Think about it; one of the biggest problems with the cell and gene therapy sector’s share pricing is …  99% of them have no earnings! If rates are higher for longer, that means that sector companies will continue to struggle or be unable to raise capital and therefore be subject.

 

Welcome to my world of defining the “grey’ in our universe!

  • 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.