June 22, 2021 5:07pm
As sentiment is out-of-control as even news didn’t help the sector
Pre-open indications: 0 HITs and 7 MISS
My comments try to distinguish the temporary from real pricing digression or progress.
If you’re looking for sector intel, ideas and facts or numbers (which don’t lie) in a volatile climate, RMi defines the rigors of share pricing! My comments distinguish the temporary from real pricing digression or progress.
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The Dow closed UP +68.61 points (+0.20%); the S&P closed UP +21.65 points (+0.51%) while the Nasdaq closed UP +111.79 points (+0.79%)
Henry’omics:
The Dow posted its best day since march, the S&P 500 just short of a new record, while the Nasdaq jumped to an all-time high.
Data Docket: “The economy has shown sustained improvement,” Fed chair Powell said, according to the Fed release. “Widespread vaccinations have joined unprecedented monetary and fiscal policy actions in providing strong support to the recovery. Indicators of economic activity and employment have continued to strengthen, and real GDP this year appears to be on track to post its fastest rate of increase in decades.”
RegMed Investors’ (RMi) pre-open: “market and sector realities: fear and risk. Sustainability is at a crossroad.” … https://www.regmedinvestors.com/articles/11965
RegMed/Stem/Cell and Gene therapy’s 35 covered equities’ Advance/Decline (A/D) lines:
- Tuesday opened negative at 7/26, 1 flat and 1 acquired, stayed negative at the mid-day to 4/30, 1 flat and 1 acquired, closing negative at 9/25 and 1 acquired;
- Monday opened negative at 9/24, 1 flat and 1 acquired, flipped barely positive at the mid-day to 17/16, 2 flats and 1 acquired, closing positive at 16/15, 3 flats and 1 acquired;
The Biostage (BSTG) Chronicles: The “pump” is STILL promoting on Tuesday with the share price INFLATED +$0.09 with 4,779 shares trading, Monday closed flat at $1.21 with 572 shares traded following Friday closing flat at $1.21 with 333 shares traded, Thursday’s volume of 735 shares dropping the price -$0.09 to $1.21, Wednesday 200 shares drove the price +$0.089 to $1.30 and last Tuesday’s 10,703 shares traded with the pricing DROPPED to -$0.039 to $1.21 … WHO is buying this “zombie” as IF we didn’t know? BSTG NEEDS to “pump” the share price for the annual meeting on Thursday!
Pre-open Indications: 0 HITs and 7 MISS < Biostage (BSTG +$0.09), Bellicum Pharmaceuticals (BLCM -$0.03), bluebird bio (BLUE -$0.39), Editas Medicine (EDIT -$0.45), uniQure NV (QURE -$2.31), Intellia Therapeutics (NTLA -$0.31), Cellectis SA (CLLS +$0.10)
RegMed/Cell and Gene Therapy Earnings Scorecard Q1/21 LPS Results: https://www.regmedinvestors.com/articles/11628
There are clear winners and losers
Jumping with share pricing momentum:
- Alnylam Pharmaceuticals (ALNY), Ionis Pharmaceuticals (IONS), BioLife Solutions (BLFS), AxoGen (AXGN), Mesoblast (MESO) to name 5 of the 9 inclining of the 35 covered
Hammered in today’s market:
- ReNeuron (RENE.L), uniQure NV (QURE), Sage Therapeutics (SAGE), Chinook Therapeutics (KDNY), MiMedx (MDXG) to name 5 of the 25 declining of the 35 covered
Key metrics:
- Sector volume was MODERATE with 2 of the 9-upside having higher than the 3-month average volume with the volume of 7 of 25-downside having higher than the 3-month average volume;
- Tuesday’s percentage (%) of the 9-upside were +0.48% (PGEN) to +7.44% (BSTG) while the 25-downside ranges from -0.24% (AGTC) to -11.75% (VSTM);
Tuesday’s (9 of 9) incliners:
- Alnylam Pharmaceuticals (ALNY +$1.69 after Monday’s -$5.63);
- Ionis Pharmaceuticals (IONS +$0.78 after Monday’s -$0.88);
- BioLife Solutions (BLFS +$0.64 after Monday’s +$0.97);
- AxoGen (AXGN +$0.33 after Monday’s +$0.72);
- Mesoblast (MESO +$0.12);
- Cellectis SA (CLLS +$0.10 after Monday’s -$0.34);
- Biostage (BSTG +$0.09);
- Pluristem (PSTI +$0.04);
- Precigen (PGEN +$0.03 after Monday’s -$0.08);
Tuesday’s (10 of 25) decliners:
- ReNeuron (RENE.L -$5.55);
- uniQure NV (QURE -$2.31);
- Sage Therapeutics (SAGE -$1.75 after Monday’s +$0.56);
- Chinook Therapeutics (KDNY -$1.04 after Monday’s +$0.34);
- MiMedx (MDXG -$1.00);
- Ultragenyx (RARE -$0.72 after Monday’s +$0.57);
- Global Blood Therapeutics GBT -$0.67);
- Verastem (VSTM -$0.57);
- Fate Therapeutics (FATE -$0.48 after Monday’s +$1.67);
- Editas Medicine (EDIT -$0.45 after Monday’s +$0.98);
Closing 1 -Stemline Therapeutics (STML – acquired)
Stats:
The iShares NASDAQ Biotechnology (IBB) and the SPDR S&P ETF (XBI) indicators:
- Tuesday, the IBB closed up +0.44% and XBI closed down -0.82%
- Monday, the IBB closed up +0.90% and XBI closed up +0.91%
The CBOE Volatility Index (VVIX: INDEX) tracked:
- Tuesday was down -1.23 points or -6.88% at 16.66
- Monday was down -2.78 points or -13.43% at 17.92
Upside volume: weak
- Tuesday: 2 out of the 9-upside had higher than the 3-month average volume;
- Monday: 5 out of the 16-upside had higher than the 3-month average volume;
Downside volume:
- Tuesday: 7 out of the 25-downside had higher than the 3-month average volume;
- Monday: 4 out of the 15-downside had higher than the 3-month average volume;
Percentage (%) movement/range statistics: price versus percentage …
- Tuesday’s percentage (%) of the 9-upside were +0.48% (PGEN) to +7.44% (BSTG) while the 25-downside ranges from -0.24% (AGTC) to -11.75% (VSTM);
- Monday’s percentage (%) of the 16-upside were +0.06% (BLUE) to +4.66% (FIXX) while the 15-downside ranges from -0.09% (QURE) to -6.53% (AGTC);
June, third month of Q2/21:
Tuesday closed negative with 9 advancers, 25 decliners and 1 acquired
Monday closed positive with 16 advancers, 15 decliners, 3 flats and 1 acquired
The BOTTOM LINE: Yesterday, I quoted Moody’s Analytics’ Mark Zandi who stated:” Brace for a significant market correction”.
I agreed having stated, “investors are starting to get spooked – headwinds are headed our way as I STILL expect sector rotation trades to continue to play out!”
I’m STILL a “beware or the cautious man” whose focus has always been “warning analysis” … earnings’ season is NOT over … my advice, trim and skim any new highs if one can!”
Don’t get complacent …
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.
