February 2, 2024 5:06pm

After a reverse Advance Decline (A/D) line of Thursday’s 26/7 to Friday’s 7/26 both with 2 flats

Market indexes exhibit record high, to set-up yet another dive?

Pre-open indication: 7 Hits and 0 Miss

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Week in review

Yet again, with NO slight sigh of relief, I qualify the sector’s equity’s movement; with an emphasis on which company is gaining or losing stride in “our” portfolio in the short-term

It’s not hard to be right so often, it’s about refining expectation, defining insight and NOT being indentured to ANY financial institution!

 

Friday: The Dow closed UP +134.58 points or +0.35%, the S&P closed UP +52.42 points +1.07% while the Nasdaq closed UP +267.31 points or +1.74%

Thursday: The Dow closed UP +369.54 points or +0.97%, the S&P closed UP +60.54 points +1.25% while the Nasdaq closed UP +197.63 points or +1.30%

Wednesday: The Dow closed DOWN -317.01 points or -0.82%, the S&P closed DOWN -79.32 points -1.61% while the Nasdaq closed DOWN -345.89 points or -2.23%

Tuesday: The Dow closed UP +133.86 points or +0.35%, the S&P closed DOWN -2.96 points -0.06% while the Nasdaq closed DOWN -118.15 points or -0.76%

Monday: The Dow closed UP +224.02 points or +0.59%, the S&P closed UP +36.96 points +0.76% while the Nasdaq closed UP +172.68 points or +1.12%

 

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 Dow added +0.35%, recovering from earlier losses after a stronger-than-expected January jobs report. The S&P 500 gained +1.07%, while the Nasdaq surged +1.74%.

For the week, the S&P 500 added +1.4%, the Nasdaq gained +1.7% and the Dow rose 1.5%.

Economic Data Docket: The U.S. added 353,000 jobs in January, blasting past analysts' estimates, while wage growth unexpectedly heated up, the Labor Department reported.

 

Friday’s RegMed Investors’ (RMi) pre-open: “what goes round, sometimes comes back to bite. We're in a period of sector rotation, I say today what others won't, so you can do what others can't whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.” … https://www.regmedinvestors.com/articles/13311

 

Pre-open Indications: 7 Hits < Beam Therapeutics (BEAM -$0.39), CRISPR Therapeutics (CRSP -$0.04), Intellia Therapeutics (NTLA $0.00), Blueprint Medicine (BLMC -$0.71), Fate Therapeutics (FATE -$0.21), Ionis Pharmaceuticals (IONS -$1.16), Solid Biosciences (SLDB -$0.05)> 0 Miss

 

Advance/Decline (A/D) Line:

  • Friday’s advance/line lines at the open was negative with 6 incliners, 28 decliners and 1 flat ending with a negative close of 7 incliners, 26 decliners and 2 flats
  • Thursday: ended with a positive close of 26 incliners, 7 decliners and 2 flats
  • Wednesday’s advance/line lines at the open was negative with 13 incliners, 19 decliners and 3 flats; ending with a negative close of 8 incliners, 26 decliners and 1 flat
  • Tuesday’s advance/line lines at the open was negative with 3 incliners, 31 decliners and 1 flat; ending with a negative close of 4 incliners, 29 decliners and 2 flats
  • Monday’s advance/line lines at the open was negative with 12 incliners, 21 decliners and 1 flat; ending with a positive close of 31 incliners, 4 decliners and 0 flat

 

52-week low:

  • Regenxbio (RGNX) at $11.90

 

Ebb and flow of MY covered sector cell and gene therapy session daily “endings”:

Q1/24: February, 1 negative and 1 positive closes

  • January: 2 holiday, 12 negative and 8 positive closes

 

Key Metrics:

The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:

  • Friday, the IBB was down -1.21% and the XBI was down -1.14%
  • Thursday, the IBB was down -1.61% and the XBI was down -1.42%
  • Wednesday, the IBB was down -1.61% and the XBI was down -1.42%
  • Tuesday, the IBB was down -0.66% and the XBI was down -2.27%
  • Monday, the IBB was up +1.58% and the XBI was up +2.90%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Friday was down -0.08 point or -0.58% at 13.80
  • (2/1) Thursday was down -0.47 point or -3.28% at 13.88
  • Wednesday was up +1.26point or +9.47% at 14.57
  • Tuesday was down -0.31 point or -2.28% at 13.29
  • Monday was up +0.38 point or +2.87% at 13.63

 

Friday’s Closing Down (10 of 26):

  • Alnylam Pharmaceuticals (ALNY -$1.86 after Thursday’s +$2.01, Wednesday’s -$7.31, Tuesday’s -$0.84 and Monday’s +$1.34),
  • Sage Therapeutics (SAGE -$1.23 after Thursday’s +$0.36),
  • Ionis Pharmaceuticals (IONS -$1.22 after Thursday’s -$0.42 and Wednesday’s -$0.51),
  • Ultragenyx Pharmaceuticals (RARE -$1.08 after Thursday’s -$0.01, Wednesday’s -$0.77, Tuesday’s -$1.11 and Monday’s +$1.02),
  • Vericel (VCEL -$0.76 after Thursday’s +$0.67 and Wednesday’s -$1.28),
  • Beam Therapeutics (BEAM -$0.51 after Thursday’s +$2.03, Wednesday’s -$1.44, Tuesday’s -$2.45 and Monday’s +$4.00),
  • Regenxbio (RGNX -$0.44),
  • Blueprint Medicine (BPMC -$0.30),
  • Fate Therapeutics (FATE -$0.24 after Thursday’s +$0.60 and Wednesday’s +$0.58),
  • Verve Therapeutics (VERV -$0.20 and Thursday’s +$0.39),

Flat (2):

  • Cellectis SA (CLLS)
  • Harvard Apparatus GN (HRGN)

Friday’s Closing Up (7 of 7):

  • Adverum Biotechnologies (ADVM +$0.23),
  • CRISPR Therapeutics (CRSP +$0.08 after Thursday’s +$1.72, Wednesday’s -$1.53, Tuesday’s -$1.30 and Monday’s +$4.77),
  • Caribou Biosciences (CRBU +$0.04 after Thursday’s +$0.56, Wednesday’s +$0.06 after Tuesday’s +$0.08 and Monday’s +$0.53),
  • Intellia Therapeutics (NTLA +$0.03 after Thursday’s +$1.44, Wednesday’s -$0.77, Tuesday’s -$1.59 and Monday’s +$1.50),
  • Brainstorm Cell Therapeutics (BCLI +$0.0050),
  • Agenus (AGEN +$0.002 after Thursday’s -$0.032 and Wednesday’s +$0.0337),
  • Homology Medicine (FIXX +$0.0005)

 

Q1/24 – January

  • Friday closed negative with 7 incliners, 26 decliners and 2 flats
  • (2/1) Thursday closed positive with 26 incliners, 7 decliners and 2 flats

 

The BOTTOM LINE …  Dumps followed jumps succeeding dumps lately has become a routine.

  • What more can I write; I have said it all – read the weeklies and know I have been RIGHT!

Geo-political risk coming at you: The Biden administration has limited its previous retaliation to over 165 attacks by Iran-supported militias on U.S. forces and a drone attack killed three U.S. troops in Jordan.

Reiterating … again, “the cell and gene therapy sector continues to “recalibrate” its share pricing expectations and I don't think this … adjustment is completely over.”

  • Earnings and guidance are beginning 2/5 as Alnylam Pharmaceuticals (ALNY) and Sage Therapeutics (SAGE) along with Blueprint Medicine (BPMC) on 2/14 announcing Q4 and FY23 which WILL be crucial to continue downside force in the sector as history has taught us i.e., investors.

Today’s business news affecting “our” universe:

  • US job growth surges in January with blowout January employment report; wage inflation heats up
  • the 10-year Treasury yield added 17 basis points to 4.03%.

The top three (3) performing in the session:

  • Friday: Adverum Biotechnologies (ADVM), CRISPR Therapeutics (CRSP) and Caribou Biosciences (CRBU)
  • Thursday: Beam Therapeutics (BEAM), Alnylam Pharmaceuticals (ALNY) and CRISPR Therapeutics (CRSP),
  • Wednesday: Fate Therapeutics (FATE), Regenxbio (RGNX) and AxoGen (AXGN)
  • Tuesday: Solid Biosciences (SLDB), Caribou Biosciences (CRBU) and Brainstorm Cell Therapeutics (BCLI)
  • Monday: CRISPR Therapeutics (CRSP), Beam Therapeutics (BEAM) and Blueprint medicine (BLMC)

The worst three (3) in the session:  

  • Friday: Alnylam Pharmaceuticals (ALNY), Sage therapeutics (SAGE) and Ionis Pharmaceuticals (IONS)
  • Thursday: Ionis Pharmaceuticals (IONS), Graphite (GRPH) and Compass Therapeutics (CMPX)
  • Wednesday: Alnylam Pharmaceuticals (ALNY), Blueprint Medicine (BLMC) and CRISPR Therapeutics (CRSP)
  • Tuesday: Beam Therapeutics (BEAM), Intellia Therapeutics (NTLA) and Blueprint Medicine (BLMC),
  • Monday: Graphite Bio (GRPH), Solid Biosciences (SLDB) and Homology Medicine (FIXX)

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 its 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.