April 4, 2025 4:46pm

As I wrote Thursday, “Snorkel for bottom values”, while waiting for CPI econs next week

The CBOE Volatility Index (VIX) jumped Friday 14.20 points or 47.32% after Thursday’s 8.03 points or 37.31% marking the index’s highest level since 8/24

Did markets and investors forget that, "U.S. payrolls rose by 228,000 in March, but unemployment rate increases to 4.2%."

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

Never leave an investor uninformed! 

Week in review

 

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.

 

Thursday night’s RegMed Investors (RMi) Closing Bell: although early, snorkel for bottom values … https://www.regmedinvestors.com/articles/13866

RegMed Investors’ (RMi) pre-open: rumble, stumble and tumble … https://www.regmedinvestors.com/articles/13867

 

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

 

Friday: The Dow closed DOWN -2,231.07 points or -5.50%, the S&P closed DOWN -322.44 points or -5.97% while the Nasdaq closed DOWN -962.82 points or -5.82%

  • Another pounding Friday after China retaliated with new (34% levy on all U.S. product) tariffs

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

  • U.S. payrolls rose by 228,000 in March, but unemployment rate increases to 4.2%. Health care was the leading growth area, consistent with prior months. The industry added 54,000 jobs, almost exactly in line with its 12-month average. While, average hourly earnings increased 0.3% on the month, in line with the forecast, while the annual rate of 3.8%, the lowest level since July 2024.

Friday’s advance/decline line opened with a negative 3 incliner, 30 decliners and 2 flats ending with a negative close of 3 incliners, 30 decliners and 2 flats

Metrics:  Friday, the IBB was down -6.63%, the XBI was down -4.48% while the VIX was up +14.20 points or +47.32% at 44.22

 

Q2/24 -April – 1 positive and 3 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

 

Friday’s Closing UP (3 of 3)

  • Fate Therapeutics (FATE +$0.0729),
  • Bluebird bio (BLUE +$0.06),
  • Sangamo Therapeutics (SGMO +$0.0342)

Flat (2)

  • Harvard Apparatus RT (OTCQB: HRGN)
  • Homology Medicine (FIXX)

Friday’s Closing DOWN (10 of 30):

  • Alnylam Pharmaceuticals (ALNY -$26.42 after Thursday’s -$4.46 after Wednesday’s +$11.07 after Tuesday’s -$14.26 after Monday’s +$1.46),
  • Blueprint Medicine (BPMC -$5.43 after Thursday’s -$2.90 after Wednesday’s -$4.07),
  • Ultragenyx Pharmaceuticals (RARE -$2.70),
  • Lenz Therapeutics (LENZ -$1.82 after Thursday’s -$2.52 after Wednesday’s -$0.50 after Tuesday’s +$0.30),
  • Vericel (VCEL -$1.57 after Thursday’s -$0.66 after Wednesday’s +$1.23 after Tuesday’s -$1.53 after Monday’s +$0.12)
  • BioLife Solutions (BLFS -$1.56 after Thursday’s -$1.52 after Wednesday’s -$1.42 after Wednesday’s +$0.95),
  • Ionis Pharmaceuticals (IONS -$1.43),
  • Beam Therapeutics (BEAM -$1.19 after Thursday’s -$1.98 after Wednesday’s +$0.84 after Tuesday’s -$1.90 after Monday’s -$2.85),
  • Mesoblast (MESO -$1.03),
  • AxoGen (AXGN -$0.82 after Thursday’s -$0.69 after Wednesday’s -$0.12 after Tuesday’s -$0.69 after Monday’s +$0.15)

 

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

 

Tuesday: The Dow closed DOWN -11.80 points or -0.03%, the S&P closed UP +21.22 points or +0.38% while the Nasdaq closed up +150.60 points or +0.87%

  • Due to weaker-than-expected economic data with another sour reading on the economy due to the threat of tariffs, with the Institute for Supply Management manufacturing survey coming in lighter than expected and in contraction territory

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 Bureau of Labor Statistics reported available positions fell to 7.57 M, down 194,000 from January and narrowly below the estimate for 7.6 M. The openings rate as a share of the labor force fell to 4.5%, down 0.2% point, while the ratio of openings to available workers fell to 1.07 to 1.

Tuesday’s advance/decline line opened with a negative 1 incliner, 32 decliners and 2 flats ending with a negative close of 5 incliners, 28 decliners and 2 flats         

Metrics:  Tuesday, the IBB was down -3.88%, the XBI was down -2.94% while the VIX was down -0.51 points or -2.29% at 21.27

 

Monday: The Dow closed UP +417.86 points or +1%, the S&P closed UP +30.91 points or +0.55% while the Nasdaq closed DOWN -23.70 points or -0.14%

  • For Q1/25, the S&P 500 was down -5%, the Nasdaq lost -10.9% while the Dow shed -1.6%.           

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

  • Economists polled in the CNBC Rapid Update survey points to Q1 economic expansion of just 0.3%, well below the 2.3% growth seen in Q4/24

Monday’s advance/decline line opened with a negative 1 incliner, 32 decliners and 2 flats ending with a negative close of 7 incliners, 26 decliners and 2 flats         

Metrics:  Monday, the IBB was down -2.39%, the XBI was down -3.30% while the VIX was up +0.63 points or +2.91% at 22.28

 

The BOTTOM LINE:  US stocks cratered again on Friday after Thursday’s decline, Wednesday's positive an Tuesday's negative closes.

… following President Trump's tariff announcement; it doesn’t seem the markets may not have bottomed … yet!

I STILL think the sell-off is overdone.

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

“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 hope to be welcoming back to save the sector’s value – “uncle algo and his electronic dwarfs.” <me>

 

April ‘25: understand the “flow” …

  • 4/4 – Friday closed negative with 3 positive, 30 negative and 2 flats
  • 4/3 – Thursday closed negative with 2 positive, 32 negative and 1 flat
  • 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!

  • “Stock selloff puts M&A and IPOs worth Billions on hold” … for cheaper prices in M&A but questionable pricing for offerings, that are desperately needed financings.
  •  

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

The top three (3) performing in the session:   

  • Friday: Fate Therapeutics (FATE), bluebird bio (BLUE) and Sangamo Therapeutics (SGMO)
  • 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: 

  • Friday: Alnylam Pharmaceuticals (ALNY), Blueprint Medicine (BPMC) and Ultragenyx Pharmaceuticals (RARE)
  • 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.