October 2, 2017 6:24pm
What will support today’s upside - a follow-on wave of support?
Pre-open indications: 4 hits and 3 miss
Out and about: RGNX was up again +$0.55 after Friday’s +$0.85. RGNX is opting to back away from a deal to buy Dimension Therapeutics Inc. (DMTX) after they received a better buyout offer. SMART move, RGNX doesn't NEED to match, or best, the unsolicited $6-per-share price that Ultragenyx Pharmaceutical (RARE) being offered to DMTX, which struggled with its pipeline in the last year. In August, RGNX had announced plans to buy Dimension in an all-stock transaction.
The truths of “our” universe are reported - here!
I answer one question, in which company should investors commit and keep their money. In the grip of rotating cycles and disparaging trends, what is the price of sector knowledge – a subscription!
Monday’s results have implications to Tuesday’s sector activity as a daily report may say little or a lot and it serves as insurance that all indications are being examined and evaluated!
Henry’omics:
From the pre-open’s newsletter “…focusing on the path forward … With the sector’s suspicious of valuations and ping-pong pricing; expectation asks us, who is paying for all this risk -Investors, certainly not managements!”
… Are we ready for October and Q3’s financial results as a continuation of sporadic achievement and upside harvesting?
These are days when investors forget or don't appreciate the risks that the sector faces … Are investors chasing share pricing growth?
I’d be concerned!
Pre-open indications: 4 hits and 3 miss
- Applied Genetic Technologies (AGTC) closed up +$0.15 – miss;
- Asterias Biotherapeutics (NYSEMKT: AST) closed up +$0.20 – hit;
- Capricor (CAPR) closed up +$0.42 – miss;
- Cellectis SA (CLLS) closed up +$0.53- miss;
- MiMedx (MDXG) closed up +$0.91 – hit;
- Pluristem (PSTI) closed +$0.02 - hit;
- Vericel (VCEL) closed down -$0.15 – hit;
Some of MY working trend lines or indications:
… The greatest volume to the downside: KITE, BLUE, IMUC, NWBO and VCEL
… Upside volume was weighted to: CAPR, MDXG, SGMO, JUNO and ADRO
… Biggest $ downside: BLUE (-$11.90), AXGN (-$0.25), VCEL (-$0.15), ISCO (-$0.08) and BLFS (-$0.08)
… Largest $ upside: SGMO (+$1.20), MDXG (+$0.91), JUNO (+$0.88) and QURE (+$0.79)
… Flat: HSGX, ONVO and RENE.L
Shaking the tree:
VCEL was down -$0.15 after Friday’s +$0.40 after Thursday’s +$0.10 after Wednesday’s +$0.60 – I wouldn’t be surprised by a financing in future and soon …
As HSGX closes flat again at $1.98 while AXGN closed down -$0.25 after Friday’s +0.35 and MDXG was up +$0.91 after Friday’s +$0.02 … I kept saying they were oversold;
Even AGTC was up again +$0.15 after Friday’s +$0.20 after Thursday’s +$0.05 after being flat for 4 sessions out of eight … how long will this upside last? I haven’t seen or heard of ANY officer buys … Don’t TRUST this upside …!!
BSTG was up +$0.01 after closing flat on Friday as it announces attendance of their CMO and president at ARM’s Mesa – kumbiyah, a waste of money meeting, there won’t be investors looking at this $0.31 stock …
AST was up +$0.20 on news after Friday’s +$0.05 after Thursday’s -$0.10 after Wednesday’s +$0.15 while mothership BTX was down again -$0.05 after Friday’s -$0.06 … they both NEED cash to prop their balance sheets
CAPR closed up again +$0.42 after Friday’s +$0.80 – somethings up or amiss by these gyrations - CAPR can’t keep fooling investors for long with their brand of hype…
Immuno-oncologists - JUNO was up again +$0.88 after Friday’s +$0.41 following Thursday’s +$1.77 post Wednesday’s +$0.63; KITE was down -$0.02 after Friday’s +$0.08 while BLCM was up +$0.26 after Friday’s -$0.02 after being down -$0.03 post being up +$0.06, and VSTM was recharged again +$0.08 after Friday’s +$0.02 post Thursday’s +$0.01 following Wednesday’s +$0.17
ATHX was up +$0.13 after Friday’s -$0.07 post Thursday’s -$0.07 following being down -$0.25 as many question their cash position going forward and their clinical “manufacturing” issues as trials continue …
CLBS closed regained some position +$0.08 to $3.66 after Friday’s -$0.07, Thursday’s -$0.07 after being down -$0.08 – the same story: seemingly out of favor with all that cash, maybe an issue of focus, ability and capacity of current CEO’s strategic and tactical operating skills … just can’t get any respect!
RGNX was up again +$0.55 after Friday’s +$0.85. RGNX is opting to back away from a deal to buy Dimension Therapeutics Inc. (DMTX). RGNX had announced plans to buy Dimension in an all-stock transaction. Any time one has a doubt – wait, RGNX usually rebounds …
SGMO was up again +$1.20 after Friday’s +$0.65 as ONCE was also up +$0.21 after Friday’s -$0.07 and BLUE dropped -$11.90 after Friday’s -$3.80 … as CLLS pops +$0.53, time to say good-bye for a while.
FATE is back traveling up +$0.21 as MESO has relit the flames +$0.32
CYTX drops yet again to -$0.358 while another criminal, OSIR is down -$0.06
On what foundations are some equities advancing; it will be a question of pricing sustainability. I wouldn’t be buying into ANY big moves …
The advance/decline line scenario of 43 SCGT & RT covered companies:
· The first hour was positive with an A/DL of 26/12 and 5 flats;
· The mid-day was positive with an A/DL of 29/12 and 2 flats;
· The close was positive with an A/DL of 23/14 and 6 flats;
Daily analytics:
U.S. stock benchmarks closed at all-time highs on Monday afternoon, as equities resumed a steady run-up that could set the tone for the final three months of 2017.
· The S&P 500 index advanced by 9.76 points, or 0.4%, finishing at a record 2,529.12, powered by gains in the health-care up 1%.
· The Dow added 152.51 points, or 0.7%, to a fresh all-time peak at 22,557.60.
· The NASDAQ was up 20.76 points, or 0.3%, to 6,516.72. The Russell 2000 Index RUT, +1.25% also carved out a record again, up 1.3% at 1,509.47.
The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market; Monday traded at 9.45, down -0.63% … after
- Friday traded at 9.51, down -0.42% after Thursday traded at 9.55, down -3.24% after Wednesday traded at 9.87, down -2.95% after Tuesday traded at 10.127, down -0.39% after last Monday traded at 10.21, up +6.47%
Welcome to another day of the sector’s roller coaster …
… The iShares Russell 2000 (IWM) indicated:
· Monday was up +1.23
· Friday +20%
· Thursday +0.28%
· Wednesday+1.96%
· Tuesday +0.32%
· Last Monday +0.23%
… The iShares NASDAQ Biotechnology (IBB) indicated:
· Monday was up +1.51%
· Friday +0.92%
· Thursday +$0.46%
· Wednesday +0.57%
· Tuesday -0.93%
· Last Monday +0.44%
The count - decliners versus gainers:
……. look at the differences in the spreads as decliners jump and %
· Monday’s decliners ranged from -0.01% <KITE -$0.02> to -8.66% <BLUE -$11.90> in 14 equities;
· Friday’s decliners ranged from -0.08% <ONCE -$0.07> to -5.15% <OSIR -$0.25> in 14 equities;
· Thursday’s decliners ranged from -0.16% <RGNX -$0.05> to -3.29% <BSTG -$0.0105> in 14 equities;
· Wednesday’s decliners ranged from -0.23% <QURE -$0.02> to -10.20% <ATHX -$0.25> in 13 equities;
· Tuesday’s decliners ranged from -0.05% <XON -$0.01> to -9.36% <OPXA -$0.10> in 23 equities;
· Last Monday’s decliners ranged from -0.16% <XON -$0.03> to -10.97% <CYTX -$0.04> in 22 equities;
Versus
… Look at the percentage’s (%) and spreads …
· Monday’s gainers ranged from +0.24% <ONCE +$0.21> to +13.86% <CAPR +$0.42> in 26 equities;
· Friday’s gainers ranged from +0.04% <KITE +$0.08> to +35.87% <CAPR +$0.30> in 23 equities;
· Thursday’s gainers ranged from +0.03% <KITE +$0.05> to +3.13% <CUR +$0.04> in 24 equities;
· Wednesday’s gainers ranged from +0.02% <KITE +$0.04> to +12.24% <VCEL +$0.60> in 30 equities;
· Tuesday’s gainers ranged from +0.18% <KITE +$0.33> to +5.30% <BLFS +$0.28> in 17 equities;
· Last Monday’s gainers ranged from +0.01% <KITE +$0.01> to +9.56% <RGNX +$2.70> in 16 equities;
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.
