June 21, 2021 5:05pm

Pre-open indications: 3 HITs and 3 MISS

My comments try to distinguish the temporary from real pricing digression or progress.

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The Dow closed UP +586.89 points (+1.76%); the S&P closed UP +58.34 points (+1.40%) while the Nasdaq closed UP +111.10 points (+0.79%)

 

Henry’omics:

Indexes climbed on Monday as the market re-couped some of the steep losses caused by the Fed’s policy shift.

The rebound helped the cell and gene therapy sector at least by balancing the advance/decline (A/D) line yet barely.

The U.S. market on Monday was resilient in the face of an overnight drop in Asian markets and a big decline in bitcoin. Japan’s Nikkei 225 fell as much as 4% at one point. <CNBC>

The small-cap Russell 2000 considered a barometer of economic health jumped.

A good quote, "The overall theme here is the market still does not know whether it wants easy money or tight money and it's in a tug of war," said Randy Frederick, vice president of trading and derivatives at Charles Schwab.

 

RegMed Investors’ (RMi) pre-open: “after taking the Friday hits, it’s time to rebound, although caution is in the wind” … https://www.regmedinvestors.com/articles/11963

 

RegMed/Stem/Cell and Gene therapy’s 35 covered equities’ Advance/Decline (A/D) lines:

  • 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, 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 after Tuesday’s 10,703 shares traded with the pricing DROPPED to -$0.039 to $1.21 and last Monday’s 2,305 shares traded with NO gain … WHO is buying this “zombie” as IF we didn’t know?

 

Pre-open Indications: 3 HITs < Biostage (BSTG -$0.00), Athersys (ATHX -$0.095), CRISPR Therapeutics (CRSP +$1.18) and 3 MISS < Applied Genetic Technologies (AGTC -$0.25), Bellicum Pharmaceuticals (BLCM -$0.17), Voyager Therapeutics (VYGR -$0.13)

 

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:

  • Intellia Therapeutics (NTLA), Fate Therapeutics (FATE), CRISPR Therapeutics (CRSP), Ultragenyx (RARE), AxoGen (AXGN) to name 5 of the 16 inclining of the 35 covered

Hammered in today’s market:

  • Alnylam Pharmaceuticals (ALNY), Ionis Pharmaceuticals (IONS), Applied Genetic Technologies (AGTC), Cellectis SA (CLLS), Precigen (PGEN) to name 5 of the 15 declining of the 35 covered

 

Key metrics:

  • Sector volume SLIPPED back to a LOW profile with 5 of the 16-upside having higher than the 3-month average volume with the volume of 4 of 15-downside having higher than the 3-month average volume;
  • 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);

 

Monday’s (10 of 16) incliners:

  • Intellia Therapeutics (NTLA +$3.30 after Friday’s -$0.58);
  • CRISPR Therapeutics (CRSP +$1.79 after Friday’s +$0.56);
  • Fate Therapeutics (FATE +$1.67 after Friday’s -$3.98
  • Editas Medicine (EDIT +$0.98 after Friday’s -$0.28);
  • BioLife Solutions (BLFS +$0.97);
  • AxoGen (AXGN +$0.72);
  • Ultragenyx (RARE +$0.57 after Friday’s -$1.06);
  • Sage Therapeutics (SAGE +$0.56 after Friday’s +$1.71);
  • Regenxbio (RGNX +$0.54);
  • Chinook Therapeutics (KDNY +$0.34 after Friday’s -$0.82);

Monday’s (10 of 15) decliners:

  • Alnylam Pharmaceuticals (ALNY -$5.63 after Friday’s +$4.64);
  • Ionis Pharmaceuticals (IONS -$0.88 after Friday’s +$0.31);
  • Cellectis SA (CLLS -$0.34 after Friday’s -$0.27);
  • Applied Genetic Technologies (AGTC -$0.29);
  • Brainstorm Cell Therapeutics (BCLI-$ 0.13 after Friday’s +$0.14);
  • Vericel (VCEL -$0.12 after Friday’s +$0.37);
  • Athersys (ATHX -$0.09);
  • Voyager Therapeutics (VYGR -$0.09 after Friday’s -$0.16);
  • Precigen (PGEN -$0.08);
  • Bellicum Pharmaceuticals (BLCM -$0.06);

Closing flat - 3 – Biostage (BSTG), ReNeuron (RENE.L), Caladrius Biosciences (CLBS) and 1 -Stemline Therapeutics (STML – acquired)

 

Stats:

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

  • Monday, the IBB closed up +0.90% and XBI closed up +0.91%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Monday was down -2.78 points or -13.43% at 17.92

Upside volume: weak

  • Monday: 5 out of the 16-upside had higher than the 3-month average volume;

Downside volume:

  • Monday: 4 out of the 15-downside had higher than the 3-month average volume;

Percentage (%) movement/range statistics: price versus percentage …

  • 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:

Monday closed positive with 16 advancers, 15 decliners, 3 flats and 1 acquired

Friday closed negative with 15 advancers, 18 decliners, 1 flat and 1 acquired

 

The BOTTOM LINE: Yet again after the last again, it is stated by even Moody’s Analytics’ Mark Zandi in a message for investors:” Brace for a significant market correction”. The firm’s chief economist expects a more hawkish Federal Reserve will spark a 10% to 20% pullback.

I’m agree as I have 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.