April 11, 2025 5:00pm

After teeing-off the session with “uncle algo and his electronic trading dwarfs” as caddies; didn’t even use an iron, only a put to finish the round

Stocks climbed higher Friday, extending their gains as the White House signaled it’s open to a trade deal with China, wrapping up a wild week.

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

Never leave an investor uninformed! 

The 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.

 

RegMed Investors’ (RMi) pre-open: TGIF … https://www.regmedinvestors.com/articles/13876

Thursday night’s RegMed Investors (RMi) Closing Bell: back to where we were … https://www.regmedinvestors.com/articles/13875

 

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 UP +619.05 points or +1.56%, the S&P closed UP +95.31 points or +1.81% while the Nasdaq close UP +337.14 points or +2.06%

  • This week has been one of the most volatile periods on record
  • The CBOE Volatility Index (Vix) spiked Wednesday 33.27 following Thursday’s 40.89 to today’s 37.56
  • The expected inflation level surged to its highest level since 1981, according to the University of Michigan survey on consumers.

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 University of Michigan consumer survey’s mid-month reading on sentiment fell to 50.8, down from 57.0 in March and below the consensus estimate for 54.6. Respondents’ expectation for inflation a year from now leaped to 6.7%, the highest level since November 1981 and up from 5% in March.
  • The move represented a 10.9% monthly change and was 34.2% lower than a year ago. It was lowest reading since June 2022 and the 2nd-lowest in the survey’s history going back to 1952.

Friday’s advance/decline line opened with a negative 13 incliner, 30 decliners and 2 flats ending with a positive close of 28 incliners, 5 decline and 2 flats            

  • Up, up and higher

Metrics:  Friday, the IBB was up +3.82%, the XBI was up +2.72% while the VIX was down -3.16 points or -7.76% at 37.56

 

Q2/24 -April – 3 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

 

Friday’s Closing UP (10 of 28) 

  • Alnylam Pharmaceuticals (ALNY +$11.49 after Thursday’s -$16.99 after Wednesday’s +$18.95 after Tuesday’s -$8.63 after Monday’s -$2.79),
  • CRISPR Therapeutics (CRSP +$5.04),
  • Lenz Therapeutics (LENZ +$1.72 after Thursday’s -$1.88 after Wednesday’s +$2.10, Tuesday’s -$1.18 after Monday’s -$1.68),
  • Moderna (MRNA +$1.70 after Thursday’s -$2.17 after Wednesday’s +$2.03, Tuesday’s -$1.00 and Monday’s +$0.53)
  • Ionis Pharmaceuticals (IONS +$1.19 after Thursday’s -$1.06, Wednesday’s +$2.26, Tuesday’s -$2.06 after Monday’s +$0.48),
  • Ultragenyx Pharmaceuticals (RARE +$0.98 after Thursday’s -$0.75, Wednesday’s +$2.85, Tuesday’s -$1.08 after Monday’s -$0.29),
  • BioLife Solutions (BLFS +$0.91 after Thursday’s -$1.80, Wednesday’s +$2.15, Tuesday’s -$1.30 and Monday’s +$1.06 with acquisition)
  • Beam Therapeutics (BEAM +$0.84 after Thursday’s -$1.74 after Wednesday’s +$1.83, Tuesday’s -$0.76 after Monday’s +$0.13)
  • Intellia Therapeutics (NTLA +$0.64),
  • Blueprint Medicine (BPMC +$0.57 after Thursday’s -$1.78, Wednesday’s +$2.83,Tuesday’s -$0.98 and Monday’s -$1.488),

Flat (2)

  • Harvard Apparatus RT (OTCQB: HRGN $0.00 after Thursday’s +$0.01, Wednesday’s -$0.03, Tuesday’s -$0.07 and Monday’s $0.00)
  • Homology Medicine (FIXX)

Friday’s Closing DOWN (5 of 5):

  • Vericel (VCEL -$0.65 after Thursday’s -$2.34 after Wednesday’s +$5.64 after Tuesday’s -$1.30 after Monday’s -$2.02),
  • Mesoblast (MESO -$0.26),
  • Brainstorm Cell Therapeutics (BCLI -$0.1511),
  • MiMedx (MDXG -$0.02),
  • Sangamo Therapeutics (SGMO -$0.0053 after Thursday’s +$0.0251),

 

As compared to…

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

 

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

 

Tuesday: The Dow closed DOWN -320.01 points or -0.84%, the S&P closed DOWN -79.48 points or -1.57% while the Nasdaq close DOWN -335.35 points or -2.15%

  • Gains eroded from earlier in the session
  • Tuesday marks a 4th session of forceful market volatility since the rollout of Trump’s 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

  • The CBOE Volatility Index (VIX) the fear gauge spiked to 46.08 on Monday; Tuesday, it ended at 51.96
  • The small cap-focused Russell 2000 is down -3% from highs; and down more than 19% in 2025

Tuesday’s advance/decline line opened with a positive 31 incliner, 2 decliners and 2 flats ending with a negative close of 4 incliners, 30 decliners and 1 flat           

Metrics:  Tuesday, the IBB was down -4.19%, the XBI was down -3.19% while the VIX was up +4.71 points or +9.99% at 51.69

 

Monday: The Dow closed DOWN -349.26 points or -0.91%, the S&P closed DOWN -11.83 points or -0.23% while the Nasdaq close UP +15.48 points or +0.10%

  • U.S. stocks bounced between gains and losses in a volatile trading 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

  • Fears grew that the sell-off would feed on itself with hedge funds forced to sell down equities and other risky assets to raise cash needed meet margin calls. The CBOE Volatility Index (VIX) the fear gauge, surged to the 50 level today, an extreme level seen mostly only during bear markets.

Monday’s advance/decline line opened with a negative 1 incliner, 32 decliners and 2 flats ending with a negative close of 13 incliners, 20 decliners and 2 flats      

  • Don’t SELL as any rebound has yet to overcome obstacles but not the sense of hope as volatility continues to spike while markets lead the sector

Metrics:  Monday, the IBB was down -0.95%, the XBI was down -0.67% while the VIX was up +1.67 points or +3.69% at 46.08

 

 

The BOTTOM LINE:  The Trump administration … realizes drugs need to be made in America, not in foreign companies to be imported.

I was once told by a “very” prominent figure early in my career, “write it right, keep it tight without hype and never lose the stride to guide the reader - me” – they were pretty simple instructions to follow!

Also, most drug research is American based and if Kennedy slows or impedes their development or more – he will be bounced faster than a bond sell-off!!

Mark my words …!!

 

My perspective is to continue to nibble on sector equities, NO all ins – just add those with solid partners, lengthened runways and solid cash positions leveraged by solid management teams – there I see losses going forward!

 

“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” slips in and out, back doors reaping sector disharmony and then pops 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” …

  • 4/11 – Friday closed positive with 28 positive, 5 negative and 2 flats
  • 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 DESPARITE drive for financings – 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:   

  • Friday: Alnylam Pharmaceuticals (ALNY), CRISPR Therapeutics (CRSP) and Lenz Therapeutics (LENZ)
  • 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: 

  • Friday: Vericel (VCEL), Mesoblast (MESO) and Brainstorm Cell Therapeutics (BCLI)
  • 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.