May 22, 2018 6:05pm

The sector experienced a roller-coaster slide at the 10:30 a.m. mark yet continued its cycle to the upside

As the downside was top heavy (range of -$0.04 to -$1.84) in 16 equities while the upside ranged (+$0.01 to -$4.40) was better distributed in 27 stocks

 

Pre-open indications: 1 HIT and 1 MISS

 

Out and about: Spark Therapeutics (ONCE +$1.74) and Pfizer (PFE) have cleared a key hurdle in their effort to develop a gene therapy treatment for patient with hemophilia B. BioMarin Pharmaceutical (BMRN) shares plunged after a study showed its hemophilia A gene therapy loses some effectiveness in long-term patients. Cellectis S.A. (CLLS) received approval of an amendment to the protocol for the P1 clinical trial of UCART123 for patients with acute myeloid leukemia (AML).

 

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Henry’omics:

Today’s moves enjoying the oversold being recognized! Don't get comfortible with its pricing ...

From the pre-open newsletter, “the oversold are barking for an upside treat. Most sector session dives usually end-up as overreactions; yet “bucks” were made and we get to play another day! Enjoy some highs but, don’t wait for the lows; they will appear on the heels of the appreciation.”

What happened in the sector ...

Volume is still low affecting the downside more than the upside. I don’t recognize reasoning as to some of the downside – other than strictly profit-taking while a few fell into the deserved category (AGTC, BSTG, CLBS and VCEL) or the usual rotation (ALNY, BMRN, AXGN, RARE and BOLD).

While the upside of BLUE, ONCE, GBT, SAGE, CLLS and QURE saw some serious movement in a session have been “quibbled-over” in the last few weeks

ONCE and PFE have cleared a key hurdle in their effort to develop a gene therapy treatment for patient with hemophilia B as all 15 hemophilia B patients in ONCE’s ongoing P1/2 clinical trial of its investigational gene therapy SPK-9001 had discontinued routine infusions of factor IX concentrates – and none of the 15 participants experienced serious adverse events. ONCE completed enrollment in the P1/2 clinical trial of SPK-9001 in hemophilia B, and expects to complete the transition of the program to Pfizer (NYSE: PFE), which will be responsible for conducting large scale P3 clinical trials, this summer.

Cellectis (CLLS) received approval of an amendment to the protocol for the P1 clinical trial of UCART123, its product candidate for patients with acute myeloid leukemia (AML).

BioMarin Pharmaceutical (BMRN) shares plunged after a study showed its hemophilia A gene therapy loses some effectiveness in long-term patients. BMRN stock dipped -1.96% to close at $87.61. In earlier trading, BioMarin shares had fallen as much as 6%.

 

Pre-open indications:

  • CRISPR Therapeutics (CRSP) closed down -$0.84 – miss;
  • Editas Medicine (EDIT) closed up +$0.78 – hit;

 

The advance/decline line scenario of 45 covered companies:   

  • The open was positive with an ADL of 30/13 and 2 flats;
  • 10:30 a.m. slipped negative with an A/SL of 19/24 and 2 flats;
  • The mid-day flipped positive with an A/DL of 28/14 and 3 flats;
  • The close was positive with an A/DL of 27/16 and 2 flats;

 

MY working five (5) trend lines:

The greatest volume to the downside:  BMRN, CRSPO, VCEL, ATHX and BOLD

Upside volume was weighted to:  MDXG, ONVO, VSTM, SGMO and ONCE

Biggest $ downside:  ALNY (-$1.84), BMRN (-$1.75), AXGN (-$1.15), CRSO (-$0.84) and VCEL (-$0.70)

Best moves to the $ upside:  BLUE (+4.30), ONCE (+$1.74), GBT (+$1.30), SAGE (+$1.29) and CLLS (+$0.87)

… Flats:  RENE.L

 

 

The month of May:

  • Tuesday closed POSITIVE with 16 decliners, 27 advancers and 2 flat;
  • Monday (May 21) closed NEGATIVE with 30 decliners, 12 advancers and 3 flat
  • Friday closed barely NEGATIVE with 23 decliners, 22 advancers and 0 flat
  • Thursday closed POSITIVE with 20 decliners, 23 advancers and 2 flat
  • Wednesday closed POSITIVE with 15 decliners, 27 advancers and 3 flat
  • Tuesday closed NEGATIVE with 21 decliners, 20 advancers and 4 flat
  • Monday (May 14) closed POSITIVE with 10 decliners, 33 advancers and 2 flat;
  • Friday closed POSITIVE with 16 decliners, 29 advancers and 0 flat;
  • Thursday closed POSITIVE with 18 decliners, 26 advancers and 1 flat;
  • Wednesday closed POSITIVE with 12 decliners, 31 advancers and 2 flats;
  • Tuesday closed NEGATIVE with 28 decliners, 16 advancers and 1 flat;
  • Monday (May 7) closed POSITIVE with 15 decliners, 29 advancers and 1 flat;
  • Friday closed POSITIVE with 8 decliners, 34 advancers and 3 flat
  • Thursday closed NEGATIVE with 29 decliners, 11 advancers and 5 flats;
  • Wednesday closed POSITIVE with 15 decliners, 22 advancers and 8 flats;
  • Tuesday (May 1) closed POSITIVE with 15 decliners, 25 advancers and 5 flats;

 

Daily analytics:

Stocks dropped on Tuesday after President Donald Trump said he was not satisfied with U.S.-China trade talks.

  • The Dow fell -0.72% or 178.88 points to close at 24,834.41,
  • The S&P 500 declined 0.3% or -8.72 points to 2,724.44.
  • The NASDAQ lost 0.21% or -15.58 points to close at 7,378.46.

 

The CBOE Volatility Index (VIX) widely considered the best gauge of fear in the market,

  • Tuesday traded at 13.18, up +0.76%
  • Monday traded at 13.08, down -2.53%
  • Friday traded at 13.42, down -0.07%
  • Thursday traded at 13.40, down -0.15%
  • Wednesday traded at 13.42, down -8.27%
  • Last Tuesday traded at 14.50, up +12.14% …

 

The iShares Russell 2000 (IWM) indicated:

  • Tuesday closed down -0.73%
  • Monday closed up +$0.66%
  • Friday closed up +0.13%
  • Thursday +0.46%
  • Wednesday +1.04%
  • Last Tuesday +0.03%

 

The iShares NASDAQ Biotechnology (IBB) indication:

  • Tuesday closed up +0.32%
  • Monday closed down -1.32%
  • Friday closed up +0.20%
  • Thursday was up +0.06%
  • Wednesday +0.89%
  • Last Tuesday -1.52%

 

The count in May - decliners versus gainers:

……. look at the differences in decliners:

  • Tuesday’s decliners ranged from -%0.27 <VYGR -$0.05 > to -7.14% <AST -$0.125> in 16 equities;
  • Monday’s decliners ranged from -0.09% <FATE -$0.01 > to -6.35% <SLDB -$1.39 > in 30 equities;
  • Friday’s decliners ranged from -0.13% <OSIR -$0.01 > to -8.24% <EDIT -$3.13 > in 23 equities;
  • Thursday’s decliners ranged from -0.14% <MDXG -$0.01> to -5.57% <SAGE -$9.77> in 20 equities;
  • Wednesday’s decliners ranged from -0.17% <CRSP -$0.10 > to -33.07% <KOOL -$0.27 > in 15 equities;
  • Last Tuesday’s decliners ranged from -0.70% <PSTI -$0.01 > to -29.01% <KOOL -$0.32 > in 21 equities;

Versus

… Look at the percentage’s (%) and spreads …

  • Tuesday’s gainers ranged from +0.18% < FATE +$0.02> to +10.80% <ONVO +$0.19 > in 27 equities;
  • Monday’s gainers ranged from +0.11% <BLFS +$0-.01> to +3.27% <ATHX +$0.08 > in 12 equities;
  • Friday’s gainers ranged from +0.13% <BCLI +$0.01 > to +5.68% <VSTM +$0.27 > in 22 equities;
  • Thursday’s gainers ranged from +0.05% <ALNY +$0.05 > to +21.91% < BOLD +$7.44> in 23 equities;
  • Wednesday’s gainers ranged from +0.26% <STML +$0.05 > to +7.59% <ATHX +$0.17 > in 27 equities;
  • Last Tuesday’s gainers ranged from +0.49% <BLCM +$0.04 > to +12.26% < ONVO +$0.19> in 20 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.