November 13, 2019 5:47pm
Beyond the major indexes quickly paring gains followed the report that U.S.-China trade talks have hit a snag over agricultural purchases but later regained their footing.
Ask yourself, do you know why you own certain equity? What’s been communicated re a company’s status at any given time to shareholders other than quarterly reports or a once-upon-a-time press release!
The real question of a company's status is can they- management sell it followed by, will investors "notice"it by a financing?
In “our’ universe of cell and gene therapy, we are betting on the hope for a cure or a treatment but, we are dependent on the management team to represent our hopes and aspirations. But, are they representing shareholders or their own paycheck and title?
The Dow closed UP +92.10 (+0.33%), the S&P closed up +2.20 points (+0.07%) and the NASDAQ closed DOWN -3.99 points (-0.05%)
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Wednesday the IBB closed up +0.20% while the XBI closed up +0.27%
- Tuesday the IBB closed up +0.34% while the XBI closed up +0.28%
- Monday the IBB closed down -0.32% while the XBI closed down -0.27%
The advance/decline line scenario of 45 covered companies:
- Wednesday the close was negative with an A/D line of 12/29, 1 flat, 1 reversed merged (HSGX) and 2 acquired;
- Tuesday the close was negative with an A/D line of 19/23, 0 flat, 1 reversed merged (HSGX) and 2 acquired;
- Monday the close was negative with an A/D line of 14/27, 1 flats, 1 reversed merged (HSGX) and 2 acquired;
Henry’omics:
Macro issues resonated through the markets as it was “said” that Beijing is resisting requests from the U.S. to curb tech transfers as well as enforcement mechanisms. China is also “reportedly” balking at commitments to specific farm purchases from the U.S.
Referencing our own economic issues, Fed Chair Powell addressed the Congressional Joint Economic Committee later in prepared remarks; he said the path of Fed interest rates is unlikely to change as long as the economy keeps growing. However, he cautioned that challenges such as low inflation and weakness overseas remain.
From this morning’s “Data Docket”: the U.S. consumer price index rose more than expected in October. The index increased by 0.4% last month, the Labor Department said.
Yesterday, sentiment was burned at the stake and it’s still scorching!
What did I ask, “Who is next … I have a number of candidates as “runways” are getting leaner for some small cap equities!”
Decliners:
- Sage Therapeutics (SAGE -$1.89 after Tuesday’s -$2.79, Monday’s -$2.06, Friday’s+$7.47, Thursday’s -$0.67 and last Wednesday’s -$5.73);
- BioMarin Pharmaceuticals (BMRN -$1,08 after Tuesday’s +$0.55);
- bluebird bio (BLUE -$0.97 after Tuesday’s +$3.29, Monday’s -$5.01, Friday’s +$2.02 and last Thursday’s -$2.04);
- uniQure NV (QURE -$0.94);
- Ultragenyx (RARE -$0.83);
Incliners:
- ThermoGenesis Holdings <formerly Cesca therapeutics> (KOOL +$0.35);
- CRISPR Therapeutics (CRSP +$0.21 after Tuesday’s +$2.67, Monday’s +$0.37, Friday’s +$1.53,Thursday’s +$1.18 and last Wednesday’s+$1.23;
- Ionis Pharmaceuticals (IONS +$0.09);
- Intrexon (XON +$0.06 after Tuesday’s -$0.52);
- Pluristem (PSTI +$0.04);
The percentage (%) indicators:
- Wednesday’s range of the 12 upside was +0.09% (EDIT) to +7.31% (KOOL +0.39) while the 29 downside ranged from -0.01% (RENE.L) to -16.94% (CUR);
- Tuesday’s range of the 19 upside was +0.07% (FATE) to +9.47% (EDIT) while the 23 downside ranged from -0.77% (BCLI) to -74.36% (SLDB -$8.18);
- Monday’s range of the 14 upside was +0.07% (AXGN) to +7.31% (KOOL) while the 27 downside ranged from -0.17% (ONCE) to -16.94% (CUR);
Upside volume stats: to compare
- Wednesday: 0 out of the 12 upside had higher than the 3 month average volume;
- Tuesday: 8 out of the 19 upside had higher than the 3 month average volume;
- Monday: 1 out of the 14 upside had higher than the 3 month average volume;
Downside volume stats:
- Wednesday: 0 out of the 29 downside had higher than the 3 month average volume;
- Tuesday: 9 out of the 23 downside had higher than the 3 month average volume;
- Monday: 3 out of the 27 downside had higher than the 3 month average volume;
1 flat – AGTC with 1 reverse merged (HSGX), 2 acquired (AST & OSIR) and Spark Therapeutics’ (ONCE) acquisition by Roche could be soon according to rumors from FTC by year’s end.
November’s sessions:
Wednesday closed NEGATIVE with 29 decliners, 12 advancers, 1 flat and 2 acquired (AST & OSIR) and 1 reversed (HSGX);
Tuesday closed negative with 23 decliners, 19 advancers, 0 flat and 2 acquired (AST &OSIR) and 1 reversed (HSGX);
Monday closed NEGAIVE with 27 decliners, 14 advancers, 1 flat and 2 acquired (AST & OSIR) and 1 reversed (HSGX);
Friday closed POSITIVE with 11 decliners, 29 advancers, 2 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);
Thursday closed POSITIVE with 18 decliners, 21 advancers, 3 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);
Wednesday closed NEGATIVE with 27 decliners, 13 advancers, 2 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);
Tuesday closed POSITIVE with 17 decliners, 23 advancers, 2 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);
Monday closed NEGATIVE with19 decliners, 22 advancers, 1 flat and 2 acquired (AST & OSIR) and 1 reversed (HSGX);
Friday closed POSITIVE with 7 decliners, 33 advancers, 2 flats and 2 acquired (AST & OSIR) and 1 reversed (HSGX);
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.
