October 4, 2018 5:58pm

The NASDAQ dived -1.81% with the IBB finding a new low -2.79%

… With 3 negative dives in 4 sessions in October and Q3 results haven’t even started

Out and about: Histogenics (HSGX) closed up +$0.34 or +51.52% to $1.00 (day’s range of $0.67 to $1.43) with 45.65 M shares traded <3 month average = 920.1 K shares>. The share pricing percentage (%) had appreciated up to +100%.  WHY wasn’t it HALTED – something is suspicious? Then HSGX announced an OFFERING. The negative aftermarket looks just as suspicious as well -$0.36 or -36.01% … Canaccord Genuity LLC and BTIG, LLC are acting as the joint book-running managers for the offering. WHAT was being leaked to stimulate an upside? The SEC, MA Secretary of State and NASDAQ need to investigate before this offering is initiated!

Pre-open indications: 2 HITs and 3 MISS

The 6 W’s: Who, what, where, when, why and what of it … RMi puts the facts into evidence for the metrics to “speak”! 


A daily report may say little or a lot and its final judgement may be inconclusive; yet it serves as insurance that all indications are being examined and evaluated.

 

Daily analytics and metrics:

  • The Dow closed down – 198.87 or -0.74% to 26,629.52 points after being down -356 points at its lows of the day posting its worst decline since Aug. 10;
  • The S&P closed down -23.90 points or -0.82% to 2,901.61
  • The NASDAQ closed down -145.57 points or -1.81% to7,879.51

 

The advance/decline line scenario of 45 covered companies:   

  • The open was negative with an A/DL of 11/29 and 4 flats;
  • 2nd hour was negative with an A/DL of 10/34 and 1 flat;
  • The mid-day was negative with an A/DL of 9/35 and 1 flat;
  • The close was negative with an A/DL of 8/35 and 2 flat;

 

Pre-open indications: 2 HITs and 3 MISS

  • Athersys (ATHX) closed up +$0.04 - miss;
  • CRISPR Therapeutics (CRSP) closed down -$1.40 – miss;
  • Sangamo Therapeutics (SGMO) closed down -$0.51 – hit;
  • Verastem Oncology (VSTM) closed down -$0.22 – miss;
  • Vericel (VCEL) closed down -$0.53 – hit;

 

Five (5) key metrics: 

… The greatest volume to the downside:  VSTM, VCEL, SGMO, BMRN and GBT

… Upside volume was weighted to:  HSGX, MDXG, XON, ATHX and RARE

… Leadership ($) to the downside:  SAGE (-$5.840, SLDB (-$3.60), BLUE (-$3.32), ALNY (-$1.96) and ONCE (-$1.90)

… Best moves ($) to the upside:  AGTC (+$0.34), HSGX (+$0.34), RARE (+$0.23), XON (+0.12) and MDXG (+$0.10)

… The iShares NASDAQ Biotechnology (IBB) closed:

  • Thursday was down -2.79% % after NOT indicating in the pre-market
  • Wednesday was up +0.74% after NOT indicating in the pre-market
  • Tuesday was down -0.66% after NOT indicating in the pre-market
  • Monday (10/1) was down -0.63% with after a pre-market indication of +0.61%
  • Friday was up +0.06%
  • Last Thursday was up +1.04%

 

Henry’omics:

Four words of the day: a systematic lack of support!

I had stated investors need to stay – DEFENSIVE … I didn’t expect to be SO right!

I also talked about the disconnect in share pricing … and bingo

Volume is still low … look at the depth of the upside $0.03 (ATHX) to $0.34 (AGTC) – 5 out of 10 had higher volume while the downside imploded $0.01 (PSTI) to $5.84 (SAGE) while 21 had greater volume out of 35.

Of the 45 companies covered on Thursday; 35 downside equities finished in a range of -0.56% (CLLS) to -10.85% (AST -$0.14) while 8 upside equities oscillated from +0.23% (STML) to +51.52% (HSGX) with 2  flat close (CUR and RENE.L).

Volume is low but, moving up especially to the downside while the low hanging fruit of the upside has increased.

 

Out and about:

Aduro Biotechnologies (ADRO) closed down again -$0.10 after Wednesday’s -$0.09 after Tuesday’s -$0.93 to $6.24 after Monday’s $7.18 having ended September at $7.35 as J&J bowed-out on and abandons any rights to its attenuated Listeria tech for lung and prostate cancer. 

As I had stated on Friday, Monday, Tuesday and Wednesday, “Keep an eye on the CRISPERS:

CRISPR Therapeutics (CRSP -$2.01 on Monday and -$2.62 on Tuesday, Wednesday’s -$0.72 on and Thursday’s -$1.44) while Editas Medicine (EDIT -$1.35 on Monday, -$1.36 on Tuesday, Wednesday’s +$1.10 and Thursday’s -$1.60) and Intellia (NTLA -$1.49 on Monday, -$1.37 on Tuesday, Wednesday’s +$0.22 and Thursday’s -$1.58) were UP having been dropped from this a.m.’s SELL listing. Again I wasn’t wrong having broken my pattern of writing CRSP could have been a BUY, today!

Applied Genetic Technologies (AGTC) was UP +$0.34 after Wednesday’s -$0.12 after Tuesday’s -$0.15, Monday’s -$0.45  at $6.85,  Friday’s $7.30 and last Thursday’s $7.35 having jumped from $6.50 over a Wells Fargo (WFC) report on comparables initial data of P1/2 positive results - Nightstar Therapeutics PLC (NITE). WFC was able to consolidate their banking “position” when AGTC prepares an offering – if they finally get clinical results, be prepared!

BioLife Solutions (BLFS) closed down again -$0.48 after Wednesday’s -$2.62, Tuesday’s -$0.66, Monday’s -$0.33 and last Friday’s $17.50, following the previous Thursday’s $17.23– we will see an incline as BLFS preliminary revenue from sales of media products reached $5.3 million (after Q2’s $5.2M) while the 52 week change slips to +141.15. I still think it is OVERBOUGHT with another negative aftermarket indication of -$0.26 or -1.94% – right again.

SAGE Therapeutics (SAGE) closed down -$5.84 after Wednesday’s +$0.43 after Tuesday’s +$0.38 and Monday’s -$2.35. I have kept saying SAGE was OVERSOLD and I am maintaining a BUY, having taken MY “lump”.

Verastem Oncology (VSTM) closed down -$0.21 after Wednesday’s +$0.34, Tuesday’s +$0.155 and Monday’s -$0.73 and a Thursday’s aftermarket indication of +$0.08 or +1.18%. My OVERSOLD rants remain on target!

 

From the pre-open newsletter: "one session does not rank sustainability. The downdrafts are being “ruled” by algorithms as sentiment is marginalized by trading venues. I’m ready from just about anything happening in sector share pricing.”

As I had stated, “I hope that investors have been buying these bottoms … a rebound is due, as I had stated “I’m still cautious yet, waiting for some of the oversold to “value-up”, maybe today, tomorrow - likely if not by Friday”

 

October sessions:

Thursday closed NEGATIVE with 35 decliners, 8 advancers and 2 flat;

Wednesday closed POSITIVE with 16 decliners, 27 advancers and 2 flat;

Tuesday closed NEGATIVE with 32 decliners, 12 advancers and 1 flat

Monday (10/1) closed NEGATIVE with 33 decliners, 13 advancers and 1 flat;

  • In 19 sessions in September – there were 10 negative closes and 9 positive close;
  • In 21 August sessions – 6 had negative and 15 had positive closes

 

 

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.