April 3, 2025 4:43pm

The CBOE Index (VIX) is up 8.03 or +37.31% to 29.54 bring driven by tariffs market and economic impact

The President believes these tariffs will incentivize foreign investment in the U.S. and spur domestic job growth.

Righting the wrongs for many years of global trade indifference

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.

 

Wednesday night’s RegMed Investors (RMi) Closing Bell: cell and gene therapy sector liberated… https://www.regmedinvestors.com/articles/13864

RegMed Investors’ (RMi) pre-open: when markets get wasted … https://www.regmedinvestors.com/articles/13865

 

RegMed Investors (RMi) Research Note: Harvard Apparatus GT (OTCQB: HRGN), formerly Biostage (OTCQB: HRGN) The chokehold got tighter cutting-off any capacity to lift multiple going concern at-risk marker … https://www.regmedinvestors.com/articles/13812

 

Thursday: The Dow closed DOWN -1,656.28 points or -3.92%, the S&P closed DOWN -274.45 points or -4.84% while the Nasdaq closed DOWN -1,050.44 points or -5.97%

  • Indexes dived Thursday after President Trump unveiled sweeping tariffs of at least 10% and even higher for some countries, raising the risks of a global trade war

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 ISM services index posted a 50.8 reading, representing the percentage of companies reporting expansion. Economists surveyed by Dow Jones had been looking for 52.9 after the 53.5 reading in February. Within the survey, the employment index tumbled to 46.2, a 7.7-point drop to below the 50 cutoffs for expansion. The prices index edged lower to 60.9 and new export orders fell to 45.8, a 6.3-point decline.

Thursday’s advance/decline line opened with a negative 1 incliner, 33 decliners and 1 flat ending with a negative close of 2 incliners, 32 decliners and 1 flat

Metrics:  Thursday, the IBB was down -3%, the XBI was down -2.45% while the VIX was up +8.03 points or +37.31% at 29.54

 

Wednesday: The Dow closed UP +235.36 points or +0.56%, the S&P closed UP +37.90 points or +0.67% while the Nasdaq closed UP +151.15 points or +0.87%

  • Another volatile session

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

  • ADP reported companies added 155,000 jobs in March, a sharp increase from the upwardly revised 84,000 in February and better than the Dow Jones forecast for 120,000, according to ADP.  On the wage side, earnings rose by 4.6% year over year for those staying in their positions and 6.5% for job changers. The gap between the two matched a series low.    

Wednesday’s advance/decline line opened with a positive 25 incliner, 9 decliners and 1 flat ending with a positive close of 25 incliners, 9 decliners and 1 flat

  • Time out, time in             

Metrics:  Wednesday, the IBB was up +2.35%, the XBI was up +2.43% while the VIX was down -0.26 points or -1.19% at 21.51

 

Q2/24 -April – 1 positive and 2 negative closes

  • Q1/25 – March, 10 positive and 12 negative closes
  • February – 12 holiday, 11 negative and 7 positive closes
  • January - 2 holidays, 1 market close, 10 negative and 10 positive closes

 

Thursday’s Closing UP (2 of 2)

  • Brainstorm Cell Therapeutics (BCLI +$0.02)
  • Generation Bio (GBIO +$0.0285)

Flat (1)

  • Homology Medicine (FIXX)

Thursday’s Closing DOWN (10 of 32):

  • Alnylam Pharmaceuticals (ALNY -$4.46 after Wednesday’s +$11.07 after Tuesday’s -$14.26 after Monday’s +$1.46),
  • Blueprint Medicine (BPMC -$2.90 after Wednesday’s -$4.07),
  • Lenz Therapeutics (LENZ -$2.52 after Wednesday’s -$0.50 after Tuesday’s +$0.30),
  • Moderna (MRNA -$1.99),
  • Beam Therapeutics (BEAM -$1.98 after Wednesday’s +$0.84 after Tuesday’s -$1.90 after Monday’s -$2.85),
  • CRISPR Therapeutics (CRSP -$1.42 after Wednesday’s +$1.05 after Tuesday’s -$0.89 after Monday’s -$2.92),
  • BioLife Solutions (BLFS -$1.52 after Wednesday’s -$1.42 after Wednesday’s +$0.95),
  • uniQure NV (QURE -$0.86 after Wednesday’s +$0.71),
  • AxoGen (AXGN -$0.69 after Wednesday’s-$0.12 after Tuesday’s -$0.69 after Monday’s +$0.15)
  • Vericel (VCEL -$0.66 after Wednesday’s +$1.23 after Tuesday’s -$1.53 after Monday’s +$0.12)

 

The BOTTOM LINE:  US stocks cratered on Thursday, with the Dow tumbling almost 1,700 points while the Nasdaq led the sell-off and with the S&P 500 had their worst days since 2020 as President Trump's surprisingly steep "Liberation Day" tariffs sent shockwaves through markets worldwide.

  • Some 185 counties are impacted by the tariffs, and the new duties set 
  • The Nasdaq led the sell-off, plummeting 6%.

I think the sell-off is overdone.

  • As I stated, I saw the beginning of “bottom feeding” yesterday of the undervalued and oversold? – Yes!

On Friday, another look at the health of the US economy before most of President Trump's tariff policies took hold is set for release at 8:30 a.m. ET.

  • The Bureau of Labor Statistics' monthly jobs report is expected to show nonfarm payrolls rose by 140,000 in February, while the unemployment rate held steady at 4.1% <Bloomberg>
  • In February, the US economy added 151,000 jobs while the unemployment rate moved up slightly to 4.1%.

Here are the numbers expected tomorrow, Friday, according to data <Bloomberg>

  • Nonfarm payrolls: +140,000 vs. +151,000 in February
  • Unemployment rate: 4.1% vs. 4.1% in February
  • Average hourly earnings, month over month: +0.3% vs. +0.3% in February
  • Average hourly earnings, year over year: +4% vs. +4% in February
  • Average weekly hours worked: 34.2 vs. 34.1 in February

 

“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>

 

April ‘25: understand the “flow” …

  • 4/3 – Thursday closed negative with 2 positive, 32 negative and 1 flats
  • 4/2 - Wednesday closed positive with 25 positive, 9 negative and 1 flat
  • 4/1 - Tuesday closed negative with 5 positive, 28 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:   

  • Thursday: Generation Bio (GBIO) and Brainstorm Cell Therapeutics (BCLI)
  • Wednesday: Alnylam Pharmaceuticals (ALNY), Blueprint Medicine (BPMC) and Ultragenyx Pharmaceuticals (RARE)
  • Tuesday: bluebird bio (BLUE), Compass Therapeutics (CMPX) and Lenz therapeutics (LENZ)
  • Monday: Alnylam Pharmaceuticals (ALNY), bluebird bio (BLUE) and Mesoblast (MESO)

The worst three (3) in the session: 

  • Thursday: Alnylam Pharmaceuticals (ALNY), Blueprint Medicine (BPMC) and Lenz Therapeutics (LENZ)
  • Wednesday: Compass therapeutics 9CMPX), Lenz Therapeutics (LENZ) and Verve Therapeutics (VERV)  
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Ionis Pharmaceuticals (IONS) and Blueprint Medicine (BPMC)
  • Monday: BioLife Solutions (BLFS), CRISPR Therapeutics (CRSP) and Moderna (MRNA)

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.