June 9, 2021 5:55pm

Some sessions, the trend is our friend and then suddenly it isn't?

Pre-open indications: 13 HITs and 0 MISS

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

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The Dow closed DOWN -152.68 points (-0.44%); the S&P closed DOWN 7.71 points (-0.18%) while the Nasdaq closed DOWN -13.16 points (-0.09%)

 

Henry’omics:

Indexes finished Wednesday’s session in the hole and near their lows as the market struggled to break out from a tight range.

 

Data Docket: job openings in April soared to a new record high, with 9.3 million vacancies coming online amid the economic recovery.

 

RegMed Investors’ (RMi) pre-open: “watch your “six’, volatility bites. Pricing pressures are about to become more speculative without news” …  https://www.regmedinvestors.com/articles/11947

 

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

  • Wednesday opened positive at 30/2, 2 flats and 1 acquired, stayed positive at the mid-day to 24/10 and 1 acquired, closing positive at 22/12 and 1 acquired;

 

The Biostage (BSTG) Chronicles: The “pump” is promoting share pricing as 2,200 shares traded with a negative close of -$0.06 to $1.20 after Tuesday’s  1,216 shares traded i.e., were “pumped” as the stock increased +0.13 to $1.26, Monday’s 2,350 shares traded dropping the stock -$0.17 to $1.13, Friday’s as 800 shares traded pumping the stock +$0.19 to $1.30, Thursday’s 3528 shares traded with no pricing advantage and Wednesday’s flat at $1.11 with 5,673 shares were traded and the stock was down -$0.11 to $1.11; WHO is buying this “zombie”?

 

Pre-open Indications: 13 HITs <BUY: Applied Genetic Technologies (AGTC +$0.11), CRISPR Therapeutics (CRSP +$1.07); Maintaining SELL: Biostage (BSTG -$0.06), Homology Medicine (FIXX -$0.21); SELL into Strength: AxoGen (AXGN -$0.34), Chinook Therapeutics (KDNY -$0.94), Editas Medicine (EDIT +$0.41), Fate Therapeutics (FATE +$3.64), Ionis Pharmaceuticals (IONS +$0.03), Global Blood Therapeutics (GBT -$0.51), Mesoblast (MESO +$0.22), Sage Therapeutics (SAGE +$0.41), Homology Medicine (FIXX +$0.21)> and 0 MISS

 

RegMed/Cell and Gene Therapy Earnings Scorecard Q1/21 LPS Results … MESO added: https://www.regmedinvestors.com/articles/11628

 

There are clear winners and losers

Jumping with share pricing momentum:

  • Alnylam Pharmaceuticals (ALNY), Fate Therapeutics (FATE), Intellia Therapeutics (NTLA), CRISPR Therapeutics (CRSP), Ultragenyx (RARE) to name 5 of the 22 inclining of the 35 covered

Hammered in today’s market:

  • ReNeuron (RENE.L) - again, Vericel (VCEL), Chinook Pharmaceuticals (KDNY), Global Blood Therapeutics (GBT), uniQure NV (QURE) to name 5 of the 12 declining of the 35 covered

 

Key metrics:

  • Sector volume was WEAK with 2 of the 22-upside having higher than the 3-month average volume with the volume of 3 of 12-downside having higher than the 3-month average volume;
  • Wednesday’s percentage (%) of the 22-upside were +0.08% (IONS) to +4.19% (ALNY) while the 12-downside ranges from -0.42% (PGEN) to -7.69% (RENE.L);

 

Wednesday’s (10 of 24) incliners:

  • Alnylam Pharmaceuticals (ALNY +$6.33 after Tuesday’s +$0.62 and Monday’s +$4.86);
  • Fate Therapeutics (FATE +$3.64 after Tuesday’s +$2.23 and Monday’s +$4.21);
  • Intellia Therapeutics (NTLA +$1.45 after Tuesday’s +$1.32 and Monday’s +$5.42);
  • CRISPR Therapeutics (CRSP +$1.07 after Tuesday’s -$0.29 and Monday’s +$5.91);
  • Ultragenyx (RARE +$0.93 after Tuesday’s -$2.04 and Monday’s +$3.30);
  • BioLife Solutions (BLFS +$0.46);
  • Editas Medicine (EDIT +$0.41);
  • Sage Therapeutics (SAGE +$0.41 after Tuesday’s +$4.29 and Monday’s +$2.86);
  • Cellectis SA (CLLS +$0.28 after Tuesday’s -$0.22);
  • Mesoblast (MESO +$0.22 after Tuesday’s +$0.54 after Monday’s -$0.15);

Wednesday’s (12 of 12) decliners:

  • ReNeuron (REN.L -$9.50 after Tuesday’s -$2.50 and Monday’s -$1.50);
  • Vericel (VCEL -$1.36 after Tuesday’s +$2.65 and Monday’s +$0.98);
  • Chinook Therapeutics (KDNY -$0.94 after Tuesday’s +$0.91);
  • Global Blood Therapeutics (GBT -$0.51 after Tuesday’s +$1.08);
  • uniQure NV (QURE -$0.43 after Tuesday’s -$0.22 and Monday’s +$1.85);
  • AxoGen (AXGN -$0.34 after Tuesday’s +$0.54);
  • Regenxbio (RGNX -$0.15);
  • Biostage (BSTG -$0.06 after Tuesday’s +$0.13 and Monday’s -$0.17)
  • Athersys (ATHX -$0.05);
  • Solid Biosciences (SLDB -$0.05)
  • Sangamo Therapeutics (SGMO -$0.03);
  • Precigen (PGEN -$0.03);

Closing 1 -Stemline Therapeutics (STML – acquired)

 

COVID-19 updates:

More than half of Americans have received at least one dose of a vaccine and 42% are fully vaccinated.

Friday’s COVID Data Tracker <Million>:

  • Cases: 34,259 M 
  • Death rate totaled 613,322
  • Recovered/Discharged 28,242,541

 

Stats:

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

  • Wednesday, the IBB closed up +1.54% and XBI closed up +0.94%

The CBOE Volatility Index (VVIX: INDEX) tracked:

  • Wednesday was up +0.82 points or +4.80% at 17.89

Upside volume: weak

  • Wednesday: 2 out of the 24-upside had higher than the 3-month average volume;

Downside volume: low

  • Wednesday: 3 out of the 10-downside had higher than the 3-month average volume;

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

  • Wednesday’s percentage (%) of the xx-upside were +0.08% (IONS) to +4.19% (ALNY) while the x-downside ranges from -0.42% (PGEN) to -7.69% (RENE.L);

 

June, third month of Q2/21:

Wednesday closed positive with 22 advancers, 12 decliners and 1 acquired

Tuesday closed positive with 25 advancers, 9 decliners and 1 acquired

Monday closed positive with 30 advancers, 4 decliners and 1 acquired

 

 

The BOTTOM LINE: Expect the sector rotation trades to continue to play out. – I’m maintaining SELLING into STRENGTH on Wednesday.

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!”

My time frame of measurement remains Friday to Friday and has been proved right again, 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.