November 19, 2020 5:20pm

Equities shake off increase in jobless claims and a COVID-19 50% increase in hospitalizations

Pre-indication Results: 5 HITs and 2 MISS

News: -uniQure N.V. (QURE) announced positive top-line data from its pivotal, P3 HOPE-B gene therapy trial of etranacogene dezaparvovec, an investigational adeno-associated virus five (AAV5)-based gene therapy for the treatment of patients with severe and moderately severe hemophilia B.

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The Dow closed UP +44.81 points (+0.05%); the S&P closed UP +14.08 points (+0.39%) while the Nasdaq closed UP +103.11 points (+0.87%)

 

Henry’omics:

Indexes were up, down and closed positive on Thursday as the market’s rally this month loses steam amid rising coronavirus cases.

  • The S&P 500 has gained more than 9% in November along with the Nasdaq, while the Dow has popped 11.3% in that time.
  • The small-cap Russell 2000 has outperformed this month, however, surging more than 15%.

 

Data Docket: First-time filings for unemployment benefits totaled 742,000 last week versus an estimate of 710,000.

  • Continuing claims fell by 429,000 to 6.37 million, a fresh pandemic-era low. The total of those receiving benefits declined by more than 800,000 but remains extremely elevated.
  • U.S. homebuilding increased more than expected in October … Housing starts rose 4.9% to a seasonally adjusted annual rate of 1.530 million units last month, the Commerce Department said on Wednesday. Data for September was revised up to a 1.459 million-unit pace from the previously reported 1.415 million.

 

News: uniQure N.V. (QURE) announced positive top-line data from its pivotal, P3 HOPE-B gene therapy trial of etranacogene dezaparvovec, an investigational adeno-associated virus five (AAV5)-based gene therapy for the treatment of patients with severe and moderately severe hemophilia B.

  • This is the first data set to be reported from a Phase III gene therapy study in hemophilia B and, with 54 patients, the largest set of patients receiving a single gene therapy investigational product to be reported to date. These clinical data were published today as a late-breaking abstract, one of only six accepted for presentation at the 62nd Annual Meeting of the American Society of Hematology (ASH) and will be featured as an oral presentation in the conference on December 8, 2020.

 

Pre-open indication: 5 HITs < Biostage (BSTG +$0.00 with 6,351 shares traded), Global Blood Therapeutics (GBT +$0.47); Sell into Strength: Sage Therapeutics (SAGE +$1.86), CRISPR Therapeutics (CRSP +$2.50), Editas Medicine (EDIT +$0.27)> and 2 MISS < Alnylam Pharmaceuticals (ALNY -$2.12), Applied Genetic Technologies (AGTC -$0.26)>

 

This morning, I stated in this a.m.’s newsletter – RegMed Investors’ (RMi) pre-open: be still my brain, optimism no longer leads to confidence. Defining expectation gets harder and harder as Thursday will bring yet, another window view of how the labor market recovery will charge amid rising cases of Covid-19 … https://www.regmedinvestors.com/articles/11642

 

RegMed/Cell and Gene therapy 35 covered equities’ Advance/Decline (A/D) lines: progressions and regressions …

  • Thursday opened positive at 15/18 and 2 flats, flipped negative at the mid-day at 14/19 and 2 flats, closing positive at 19/15 and 3 flats;
  • Wednesday opened positive at 18/14 and 3 flats, flipped positive at the mid-day at 17/15 and 3 flats, closing negative at 7/25 and 3 flats;
  • Tuesday opened negative at 6/27 and 2 flats, flipped positive at the mid-day at 18/15 and 2 flats, closing positive at 18/15 and 2 flats;
  • Monday opened positive at 19/16 and 2 flats, stayed positive at the mid-day at 22/12 and 1 flat, closing positive at 19/15 and 1 flat;

 

Key metrics:

  • Sector volume was the usual LOW with 6 of the 19-upside having higher than the 3-month average volume with the increased volume of 4 of 13-downside having higher than the 3-month average volume;
  • Thursday’s percentage (%) of the 19-upside were +0.19% (RGNX) to +7.95% (QURE) while the 13-downside ranges from -0.02% (FATE) to -6.03% (AGTC);

 

Hammered in today’s market:

  • Alnylam Pharmaceuticals (ALNY), Intellia therapeutics (NTLA), Ultragenyx (RARE), Vericel (VCEL), Fate Therapeutics (FATE) to name 5 of the 13 declining of the 35 covered

Jumping with share pricing momentum:  

  • uniQure NV (QURE), CRISPR Therapeutics (CRSP), Sage Therapeutics (SAGE), Cellectis SA (CLLS), ReNeuron (RENE.L) to name 5 of the 19 inclining of the 35 covered

 

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

  • Thursday, the IBB closed up +0.12% and XBI closed up +0.59%
  • Wednesday, the IBB closed down -0.51% and XBI closed up +0.53%
  • Tuesday, the IBB closed down -0.23% and XBI closed up +0.88%
  • Monday, the IBB closed up +0.01% and XBI closed up +0.48%

 

Thursday’s (10 of 19) incliners:

  • uniQure NV (QURE +$3.40 after Wednesday’s -$1.63, Tuesday’s +$0.40 and Monday’s +$0.74);
  • CRISPR Therapeutics (CRSP +$2.49 after Wednesday’s -$1.82, Tuesday’s +$1.81 and Monday’s +$2.80);
  • Sage Therapeutics (SAGE +$2.03 after Wednesday’s -$1.35, Tuesday’s +$0.78 and Monday’s -$6.05);
  • Cellectis SA (CLLS +$1.08 after Wednesday’s +$1.32, Tuesday’s -$0.36 and Monday’s +$0.94);
  • ReNeuron (RENE.L +$1.00);
  • Global Blood Therapeutics (GBT +$0.84);
  • Adverum Biotechnologies (ADVM +$0.44 after Wednesday’s +$0.09);
  • Editas Medicine (EDIT +$0.34 after Wednesday’s -$1.06, Tuesday’s -$0.31 and Monday’s -$0.17);
  • Brainstorm Cell Therapeutics (BCLI +$0.27);
  • BioLife Solutions (BLFS +$0.27 after Wednesday’s +$0.73, Tuesday’s +$1.09 and Monday’s -$1.02);

Thursday’s (10 of 13) decliner:

  • Intellia Therapeutics (NTLA -$1.97);
  • Alnylam Pharmaceuticals (ALNY -$1.64 after Wednesday’s -$3.85, Tuesday’s -$1.75 and Monday’s -$4.46);
  • Ultragenyx (RARE -$1.23 after Wednesday’s -$5.32, Tuesday’s +$0.70 and Monday’s +$1.45);
  • Vericel (-$0.90 after Wednesday’s -$1.26);
  • Pluristem (PSTI -$0.40 after Wednesday’s +$0.18, Tuesday’s +$0.38 and Monday’s -$0.16);
  • bluebird bio (-$0.27 after Wednesday’s -$1.93);
  • AxoGen (AXGN -$0.26);
  • Applied Genetic Technologies (AGTC -$0.26);
  • Ionis Pharmaceuticals (IONS -$0.23 after Wednesday’s -$1.83, Tuesday’s +$0.36 and Monday’s +$0.58);
  • Sangamo therapeutics (SGMO -$0.16);

Closing 2 - Biostage (BSTG), Athersys (ATHX) and 1 -Stemline Therapeutics (STML – acquired)

 

Percentage (%) movement/range statistics: a 360 degrees comparison of % and pricing

  • Thursday’s percentage (%) of the 19-upside were +0.19% (RGNX) to +7.95% (QURE) while the 13-downside ranges from -0.02% (FATE) to -6.03% (AGTC);
  • Wednesday’s percentage (%) of the 7-upside were +0.34% (MESO) to +6.70% (CLLS) while the 25-downside ranges from -0.25% (RGNX) to -7.42% (SGMO);
  • Tuesday’s percentage (%) of the 18-upside were +0.45% (GBT) to +4.22% (PSTI) while the 15-downside ranges from -0.09% (BLUE) to -66.33% (BCLI);
  • Monday’s percentage (%) of the 19-upside were +0.60% (FIXX) to +8.38% (PGEN) while the 15- downside of -0.35% (KDNY) to -8.16% (BSTG);

 

Sentiment and a few daily indicators:

Surging coronavirus infections and resulting deaths are caucusing investor anxieties.

Infection cases <Million>:

  • Thursday 11.53 M cases
  • Wednesday 11.36 M cases
  • Tuesday 11.2 M cases
  • Monday 11.03 M cases

Thursday’s death rate totaled 250,548 after Wednesday’s 284.824, Tuesday’s 247,437, Monday’s 246,224, Friday’s 242,536 and last Thursday’s 241,907 <Johns Hopkins University>

 

Stats:

Upside volume: 

  • Thursday: 6 out of the 19-upside had higher than the 3-month average volume;
  • Wednesday: 1 out of the 7-upside had higher than the 3-month average volume;
  • Tuesday: 4 out of the 18-upside had higher than the 3-month average volume;
  • Monday: 8 out of the 19-upside had higher than the 3-month average volume;

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Thursday was down -0.73 points or -3.06% at 23.11
  • Wednesday was up + points or +% at 22
  • Tuesday was up +0.26 points or +1.16% at 22.71
  • Monday was down -0.65 points or -2.81% at 22.45

Downside volume:

  • Thursday: 4 out of the 13-downside had higher than the 3-month average volume;
  • Wednesday: 5 out of the 25-downside had higher than the 3-month average volume;
  • Tuesday: 7 out of the 15-downside had higher than the 3-month average volume;
  • Monday: 5 out of the 15-downside had higher than the 3-month average volume;

 

November, the 2nd month of Q4 …

Thursday closed positive with 19 advancers, 13 decliners and 3 flats  

Wednesday closed negative with 7 advancers, 25 decliners and 3 flats 

Tuesday closed positive with 18 advancers, 15 decliners and 2 flats 

Monday (11/16) closed positive with 19 advancers, 15 decliners and 1 flat   

Friday closed positive with 22 advancers, 11 decliners and 1 flat 

Thursday closed negative with 15 advancers, 19 decliners and 1 flat 

Wednesday closed positive with 17 advancers, 15 decliners and 3 flats 

Tuesday closed positive with 22 advancers, 11 decliners and 2 flats 

Monday (11/9) closed positive with 21 advancers, 12 decliners and 2 flats 

Friday closed negative with 6 advancers, 28 decliners and 1 flat 

Thursday closed positive with 20 advancers, 11 decliners and 4 flats 

Wednesday closed positive with 28 advancers, 4 decliners and 3 flats 

Tuesday closed positive with 30 advancers, 4 decliners and 1 flat 

Monday (11/2) closed positive with 17 advancers, 15 decliners and 3 flats 

 

The Bottom Line: The BIGGEST issue is the number of coronavirus cases continues to increase, diminishing the country’s near-term economic outlook and a hint of returning to individual normalcy.

 

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.