April 10, 2025 4:37pm

With market turmoil enhancing sector uncertainty ensuring volatility

As I wrote in the early pre-open’s: “welcome back; yesterday’s forced BUYING and today’s quick byes. Volatility and uncertainty are here to stay initially helped by a bit by tantalizing time pushing headlines. I didn’t take a toke, NOT anticipating a temporary high”

The CBOE Volatility Index (VIX) jumped above 50 on Thursday as stocks gave back their gains from a day earlier.

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.

 

RegMed Investors’ (RMi) pre-open: upside, welcome back; yesterday’s forced BUYING and today’s quick byes … https://www.regmedinvestors.com/articles/13874

Wednesday night’s RegMed Investors (RMi) Closing Bell: Abra-Karaba, presto pronto; sector’s up, up and away … https://www.regmedinvestors.com/articles/13873

 

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 -1,014.79 points or -2.50%, the S&P closed DOWN -188.85 points or – 3.46% while the Nasdaq close DOWN -737.66 points or -4.31%

  • Indexes fell Thursday, giving back gains from Wednesday’s rally

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

  • Losses accelerated after the White House confirmed to CNBC on Thursday that the cumulative tariff rate on China would actually total 145%. This consists of the new 125% duty on goods, on top of the 20% rate levied in response to the fentanyl crisis. <CNBC>

Thursday’s advance/decline line opened with a negative 31 incliner, 3 decliners and 1 flat ending with a negative close of 4 incliners, 30 decline and 1 flat              

Metrics:  Thursday, the IBB was down -5.49%, the XBI was down -3.27% while the VIX was up +7.27 points or +21.75% at 40.89

 

Q2/24 - April – 2 positive and 6 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 (4 of 4)

  • Sangamo Therapeutics (SGMO +$0.0251),
  • Fate Therapeutics (FATE +$0.0156)
  • Cellectis SA (CLS +$0.01),
  • Harvard Apparatus RT (OTCQB: HRGN +$0.01 after Wednesday’s -$0.03 after Tuesday’s -$0.07 and Monday’s $0.00)

Flat (1)

  • Homology Medicine (FIXX)

Thursday’s Closing DOWN (10 of 30): -$ after Wednesday’s

  • Alnylam Pharmaceuticals (ALNY -$16.99 after Wednesday’s +$18.95 after Tuesday’s -$8.63 after Monday’s-$2.79),
  • Vericel (VCEL -$2.34 after Wednesday’s +$5.64 after Tuesday’s -$1.30 after Monday’s -$2.02),
  • Moderna (MRNA -$2.17 after Wednesday’s +$2.03 after Tuesday’s -$1.00 after Monday’s +$0.53)
  • Lenz Therapeutics (LENZ -$1.88 after Wednesday’s +$2.10 after Tuesday’s -$1.18 after Monday’s -$1.68),
  • BioLife Solutions (BLFS -$1.80 after Wednesday’s +$2.15 after Tuesday’s -$1.30 after Monday’s +$1.06 and acquisition)
  • Blueprint Medicine (BPMC -$1.78 after Wednesday’s +$2.83 after Tuesday’s -$0.98 after Monday’s -$1.488),
  • Beam Therapeutics (BEAM -$1.74 after Wednesday’s +$1.83 after Tuesday’s -$0.76 after Monday’s +$0.13)
  • Ionis Pharmaceuticals (IONS -$1.06 after Wednesday’s +$2.26 after Tuesday’s -$2.06 after Monday’s +$0.48),
  • AxoGen (AXGN -$0.96),
  • Ultragenyx Pharmaceuticals (RARE -$0.75 after Wednesday’s +$2.85 after Tuesday’s -$1.08 after Monday’s -$0.29),

 

As compared to… Wednesday: The Dow closed UP +2,962.86 points or +7.87%, the S&P closed UP +474.13 points or +9.52% while the Nasdaq close UP +1,857.06 points or +12.16%

  • Indexes exploded

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 Cboe Volatility Index (VIX) dropped 15 points to 37.2 after news of a 90-day tariff pause

Wednesday’s advance/decline line opened with a negative 7 incliner, 26 decliners and 2 flats ending with a positive close of 33 incliners, 1 decline and 1 flat              

Metrics:  Wednesday, the IBB was up +6.61%, the XBI was up +5.08% while the VIX was down -19.06 points or -36.46% at 33.27

 

The BOTTOM LINE:  Markets got “slapped” again; in less than 24 hours …

  • The White House confirmed on Thursday morning that the total tariffs on China will now be 145% when accounting for the previous 20% duties already in place.

 

Good quote, “"I still think this is more 'sell the rip' than 'buy the dip' [in stocks] — lots of problems continue but it is nice to see the President backing off and focusing on China. The issue is prolonged uncertainty." <Renaissance Macro head of economics Neil Dutta>

 

“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” …

  • 4/10 – Thursday closed negative with 4 positive, 30 negative and 1 flat
  • 4/9 – Wednesday closed positive with 33 positive, 1 negative and 1 flat
  • 4/8 - Tuesday closed negative with 4 positive, 30 negative and 1 flat
  • 4/7 - Monday closed negative with 13 positive, 20 negative and 2 flats
  • 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 9 positive, 25 negative and 1 flat
  • 4/1 - Tuesday closed negative with 5 positive, 28 negative and 2 flats

 

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: Sangamo Therapeutics (SGMO), Fate therapeutics (FATE) and Cellectis SA (CLLS)
  • Wednesday: Alnylam Pharmaceuticals (ALNY), Vericel (VCEL) and CRISPR Therapeutics (CRSP)
  • Tuesday: Cellectis SA (CLLS), Caribou Biosciences (CRBU) and bluebird bio (BLUE)
  • Monday: BioLife Solutions (BLFS), Moderna (MRNA) and Ionis Pharmaceuticals (IONS)

The worst three (3) in the session: 

  • Thursday: Alnylam Pharmaceuticals (ALNY), Vericel (VCEL) and Moderna (MRNA)
  • Wednesday: Harvard Apparatus RT (OTCQB: HRGN)
  • Tuesday: Alnylam Pharmaceuticals (ALNY), Ionis Pharmaceuticals (IONS) and Blueprint Medicine (BPMC)
  • Monday: Alnylam Pharmaceuticals (ALNY), Vericel (VCEL) and Lenz Therapeutics (LENZ)

 

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.