March 25, 2025 5:08pm

To sustainability …

As I wrote this a.m., “What goes up, flips the upside scrip down and reverse back again. Don’t wish for too much broadly higher after 2 sessions in a row and a "funky" market. Although hope i.e., back-to-back ascendency vehicle is questionable.”

While sentiment continues to wane among investors, as economic uncertainties take their toll

I say today what others won't, so you can do what others can't!

Never leave an investor uninformed!  

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

My mission is to provide clear, actionable guidance on a regular basis to help investors and traders navigate the uncertain and often irrational financial markets. I put hours of effort to create reporting, while leveraging my 40 years of operating and research experiences to analyze the key market-moving events and distill that into a cogent outlook.

 

Tuesday’s RegMed Investors’ (RMi) pre-open: hope and worry … https://www.regmedinvestors.com/articles/13853

Monday night’s RegMed Investors (RMi) Closing Bell: a jumping jacks’ session for sector stocks … https://www.regmedinvestors.com/articles/13852

 

RegMed Investors (RMi) Research Note: The clock continues to tick down on Harvard Apparatus GT (OTCQB: HRGN) … https://www.regmedinvestors.com/articles/13812

 

Tuesday: The Dow closed UP +4.18 points or +0.01%, the S&P closed UP +9.08 points or +0.16% while the Nasdaq closed UP +83.26 points or +0.46%

  • Indexes barely make it with share pricing disabling volatility

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

  • The Conference Board’s monthly confidence index fell to 92.9, below a forecast of 93.5. The measure for future expectations dropped to 65.2, the lowest reading in 12 years and well below the 80-level considered to be a signal for a recession ahead.

Tuesday’s advance/decline line opened with a negative 7 incliner, 24 decliners and 4 flats ending with a barely negative close of 6 incliners, 26 decliners and 3 flats

Metrics:  Tuesday, the IBB was down -2.34%, the XBI was down -1.74% while the VIX was down -0.33 points or -1.89% at 17.15

 

As compared to … Monday: The Dow closed UP +597.97 points or +1.42%, the S&P closed UP +100.01 points or +1.76% while the Nasdaq closed UP +404.54 points or +2.27%

  • investors received some encouraging words from Fed Chair Powell, who last week said that any potential negative impacts from Trump’s tariffs will likely be short-lived

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

  • S&P Global flash services index turned in a reading of 54.3, up from 51 in February and better than the 51.5 consensus estimate. Though the reading beat the forecast, S&P noted that the outlook hit its 2nd-lowest since October 2022 while expectations for job growth “was also subdued.” On manufacturing, the 49.8 reading was a downshift from the 52.7 in February and missed the 51.5 estimate.
  • Consumer confidence reading on Tuesday, followed by initial weekly jobless claims figures on Thursday

Monday’s advance/decline line opened with a positive 31 incliner, 3 decliners and 1 flat ending with a positive close of 31 incliners, 3 decliners and 1 flat

  • The small-cap Russell 2000 index gained about 2% in trading on Monday

Metrics:  Monday, the IBB was up +1.73%, the XBI was up +1.69% while the VIX was down -1.77 points or -9.18% at 17.51

 

Q1/25 – March, 9 positive and 9 negative closes

  • February – 12 holiday, 11 negative and 7 positive closes
  • January - 2 holidays, 1 market close, 10 negative and 10 positive closes

Q4/24 –

  • December - 1 holiday, 6 positive and 15 negative closes
  • November – 1 holiday, 10 negative and 10 positive closes              
  • October: 8 positive and 15 negative sessions

 

Tuesday’s Closing UP (6 of 6)

  • AxoGen (AXGN +$0.84),
  • Sage Therapeutics (SAGE +$0.32),
  • Verve Therapeutics (VERV +$0.06),
  • Brainstorm Cell Therapeutics (BCLI +$0.04 after Monday’s -$0.04),
  • Agenus (AGEN +$0.03),
  • Vericel (VCEL +$0.02 after Monday’s +$1.58),

Flat (3)

  • Cellectis SA (CLLS)
  • Harvard Apparatus RT (OTCQB: HRGN $0.00 after Monday’s +$0.025),
  • Homology Medicine (FIXX)

Tuesday’s Closing DOWN (10 of 26): 

  • Alnylam Pharmaceuticals (ALNY -$9.74 after Monday’s +$7.36),
  • Blueprint Medicine (BPMC -$2.19 after Monday’s +$6.55),
  • CRISPR Therapeutics (CRSP -$1.73 after Monday’s +$1.40),
  • Ionis Pharmaceuticals (IONS -$1.18 after Monday’s +$0.54),
  • Beam Therapeutics (BEAM -$0.79 after Monday’s +$0.71),
  • Ultragenyx Pharmaceuticals RARE -$0.67),
  • BioLife Solutions (BLFS -$0.59 after Monday’s +$1.42),
  • Intellia Therapeutics (NTLA -$0.58),
  • Regenxbio (RGNX -$0.49 after Monday’s +$0.46),
  • Adverum Biotechnologies (ADVM -$0.47),

 

The BOTTOM LINE:  New week, the 4th of March …Monday closed positive followed by aa negative close on Tuesday …

  • Friday and Thursday closed negative after Wednesday closed positive, Tuesday closed negative following Monday’s positive close
  • A positive Friday sector close following Thursday’s negative close after 2 positive (Wednesday & Tuesday) closes following Monday’s negative close.
  • The previous 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?

 

“I hate to be so negative or contrarian but, this is a NO spin zone and truth is its product; I can always be WRONG but, I am mostly EARLY!”

  • If I have learned one thing as a former research analyst in a venture and public fund, operating executive, x-FBI, x-military officer and an adjunct (MBA) business school professor now a journalist; my life and your portfolio are largely tied to knowledge of price movements and questioning pricing targets and more.

I don’t have much to write/say other than “electronic trading and uncle algo” slipped out the back door reaping sector disharmony and then popped right back for some profiteering.

  • What can I say, love ‘em, leave ‘em and welcome back to save the sector’s honor – “uncle algo and his electronic dwarfs.” <me>

Earnings are still coming, almost completed … for Q4/24 and FY24 … my view will follow, has been busy and personally eventful!

 

March ‘25: understand the “flow” …

  • 3/25 - Tuesday closed negative with 6 positive, 26 negative and 3 flats
  • 3/24 - Monday closed positive with 31 positive, 3 negative and 1 flat
  • 3/21 – Friday closed negative with 17 positive, 16 negative and 2 flats
  • 3/20 – Thursday closed negative with 10 positive, 23 negative and 2 flats
  • 3/19 - Wednesday closed positive with 25 positive, 8 negative and 2 flats
  • 3/18 -Tuesday closed negative with 7 positive, 27 negative and 1 flat
  • 3/17 – Monday closed positive with 24 positive, 10 negative and 1 flat
  • 3/14 – Friday closed positive with 20 positive, 13 negative and 2 flats
  • 3/13 - Thursday closed negative with 4 positive, 30 negative and 1 flat
  • 3/12 – Wednesday closed positive with 25 positive, 9 negative and 1 flat
  • 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
  • 3/7 - 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

 

Big Point to remember “Think about it; the biggest problem the cell and gene therapy sector it’s all to the future …  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 to debt servicing firms!”
  • 2024 saw very little life IPOs (initial public offering) market and secondaries – I have seen private investments, mortgages, sell-offs, as companies deferred and struggle to gain further market access i.e., public. <Me>

What could 2025 have in store for the capital access space?

  • "You'll see a number of cell and gene therapy companies drive for secondaries – they’re desperate for cash, but I do think a lot of cell and gene therapy sector companies NEED to be focused on what is driving their own growth —they're focused on a lot of change BUT … that's happening in pipelines … capital expansion is second.

 

Why do I keep repeating, so investors can make the connection …

The top three (3) performing in the session:   

  • Tuesday: AxoGen (AXGN), Sage therapeutics (SAGE) and Verve Therapeutics (VERV)
  • Monday: Alnylam Pharmaceuticals (ALNY), Blueprint Medicine (BPMC) and Vericel (VCEL)
  • Friday: Alnylam Pharmaceuticals (ALNY), Intellia Therapeutics (NTLA) and Mesoblast (MESO)

The worst three (3) in the session: 

  • Tuesday: Alnylam Pharmaceuticals (ALNY), Blueprint Medicine (BPMC) and CRISPR Therapeutics (CRSP
  • Monday: Brainstorm Cell Therapeutics (BCLI), Caribou Biosciences (CRBU) and Generation Bio (GBIO)
  • Friday: Vericel (VCEL), Adverum Biotechnologies (ADVM) and Regenxbio (RGNX)

 

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.