November 19, 2020 8:08am

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

Pre-open indications: 4 BUYs and 3 SELLs

News: Alnylam Pharmaceuticals (ALNY) announced that the European Commission (EC) has granted marketing authorization for OXLUMO™ (lumasiran), an RNAi therapeutic, for the treatment of primary hyperoxaluria type 1 (PH1) in all age groups. <read more>

What I provide is an “intelligence daily” to ensure that shareholders are kept apprised based on a 24-hour surveillance of “our” universe, the RegMed/cell and gene therapy sector and its surrounding markets

Subscription is coming, it’s not conscription but, an offer to join our collective of like-minded investors!  My gift to you, I've kept RMi subscription FREE during these COVID-19 and volatile times

Dow futures are DOWN -0.09% (-25 points), S&P futures are DOWN -0.04% (-52 points) and NASDAQ futures are DOWN -0.16% (-19 points)

 

Futures implied a negative and slow start to the trading day following yesterday’s negative close as Dow, S&P and Nasdaq post negative numbers pre-market;

European markets pulled back Thursday after Wednesday’s higher close with the pan-European Stoxx 600 falling 0.9% in early trade;

Asia-Pacific markets traded mixed as traders grappled with optimism around a potential coronavirus vaccine and economic worries.

 

Data Docket: EIA report: natural gas, Existing-home sales, initial jobless claims, Leading indicators and Philadelphia Fed survey

 

Henry’omics:

Where is the negativity coming from, infection cases continue to climb, particularly in the U.S., authorities are moving to reinstitute some of the stay-at-home orders, curfews and public safety measures, including shutting down nonessential businesses in a handful of cities.

Death tolls are rising in the U.S., Italy and Spain while Japan recorded more than 2,000 new cases on Wednesday.

After bouncing around the flat line for most of the day, U.S. indexes turned south in the final hour of trading to register a loss.

Despite Wednesday’s struggle, markets have still seen a strong November.

 

News: <continued> … Alnylam Pharmaceuticals (ALNY) announced that the European Commission (EC) has granted marketing authorization for OXLUMO™ (lumasiran), an RNAi therapeutic, for the treatment of primary hyperoxaluria type 1 (PH1) in all age groups.

PH1 is an ultra-rare orphan disease characterized by excessive oxalate production, which can lead to life threatening end-stage renal disease (ESRD) and other systemic complications. Heterogeneity in disease manifestation often contributes to delays in diagnosis – particularly in adult PH1 patients, with a median time from symptoms onset to diagnosis of approximately six years. Untreated PH1 leads to progressive kidney damage; patients with advanced kidney disease require intensive dialysis to help filter waste products, including oxalate, from their blood until they are able and eligible to receive a dual or sequential liver/kidney transplant, an invasive procedure associated with a high risk of morbidity and mortality, and life-long immunosuppression.

Prior to now there have been no approved treatment options for PH1 in Europe, so this is a potentially life-changing milestone for people diagnosed with this ultra-rare, debilitating disease - many of whom are infants and children - and their families. Lumasiran will address the urgent unmet need that exists for patients with PH1 and its approval today marks our continued commitment to rare disease communities," said John Maraganore, Ph.D., Chief Executive Officer, Alnylam Pharmaceuticals. "

 

Thursday night’s recap: RegMed Investors’ (RMi) closing bell: “a late afternoon sell-off. Gains wane and pain strains” … https://www.regmedinvestors.com/articles/11641

  • The Nasdaq closed DOWN -97.74 points (-0.82%);
  • The IBB closed down -2.02% and XBI closed down -1.89%;
  • Sector volume was the usual LOW with 1 of the 7-upside having higher than the 3-month average volume with the increased volume of 5 of 25-downside having higher than the 3-month average volume;
  • The CBOE Volatility Index (VVIX: INDEX) was up +1.13 points or +4.98% at 23.84;
  • 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);

Q4’s: November, so far: 10 positive and 3 negative closes

  • Q4’s October: 1 neutral, 11 positives with 1 negative closes
  • Q3: July through September: 1 neutral, 28 positive and 34 negative closes with 2 holidays

 

Companies in my headlights – It’s your decision; I provide an idea and context:

Maintaining Sell:

Biostage (BSTG) closed flat at $1.40 after Tuesday’s +$0.05 to $1.40 with only 371 shares traded, after Monday’s -$0.12 to $1.35 with 200 shares traded, Friday’s +$0.045 with 1,010 shares traded to $1.47, and last Thursday’s -$0.075 to $1.42 with 800 shares traded).

Question#1: WHO is the REAL force behind BSTG, a chairman of a Beijing, China based cell phone and technology company in China where BSTG’s chairman of the board, Jason Chen works and is also “married” to the head of DST Capital, BSTG’s funder? More to come re transparency?

 

Maintaining BUY:

Alnylam Pharmaceuticals (ALNY) closed down -$3.85 to $125.45. news flow should/could initiate positive share pricing as Alnylam Pharmaceuticals (ALNY) announced that the European Commission (EC) has granted marketing authorization for OXLUMO™ (lumasiran), an RNAi therapeutic, for the treatment of primary hyperoxaluria type 1 (PH1) in all age groups

Global Blood Therapeutics (GBT) closed down -$0.18 to $42.62 after Tuesday’s +$0.19 to $42.80, Monday’s -$0.50 to $42.61, Friday’s +$2.88 to $43.11 and last Thursday’s +$2.58 to $40.23, with a POSITIVE +$0.01 or +0.04% aftermarket indication – OVERSOLD;

Applied Genetic Technologies (AGTC) closed down again -$0.02 to $4.31 after Tuesday’s -$0.60 to $4.33, Monday’s $4.93, Friday’s $4.96 and last Thursday’s $5.15 with NO aftermarket indication. A 52-week low of $2.29 and a high of $10.42 plus there is a total cash ($66 million) and a per share of $2.57 but, debt of $14.79 million - OVERSOLD;

 

Maintaining SELL:

CRISPR Therapeutics (CRSP) closed down -$1.82 to $106.75 after Tuesday’s +$1.81 to $108.57, Monday’s +$2.80 to $106.76, Friday’s $103.96 and last Thursday’s $101.77 with a NEGATIVE -$0.06 or -0.06% aftermarket indication, a “peaky” chart and a 52-week change of +61.04% and a short percentage (%) of float of -10.18%

Sage Therapeutics (SAGE) closed down -$1.35 to $72.90 after Tuesday’s $74.25, Monday’s $73.47, Friday’s $79.52 and last Thursday’s $78.00 with a NEGATIVE -$0.90 or -1.23% aftermarket indication

 

BUY:

Editas Medicine (EDIT) closed down -$1.06 to $27.69 after Tuesday’s $28.75, Monday’s $29.06, Friday’s $29.23 and last Thursday’s $27.80 with a POSITIVE +$0.41 or +1.48% aftermarket indication;

 

The BOTTOM LINE: Reiterating, watch the patterns: Advance/Decline (A/D) lines are slipping … again

  • Wednesday closed negative at 7/25 and 3 flats
  • Tuesday closed positive at 18/15 and 2 flats;
  • Monday closed positive at 19/15 and 1 flat;
  • Friday closed positive at 22/11 and 1 flat;
  • Thursday closed negative at 15/19 and 1 flat;
  • Wednesday closed positive at 17/15 and 3 flats;
  • Tuesday closed positive at 22/11 and 2 flats;
  • Monday closed positive at 21/12 and 2 flats;
  • Friday closed negative with 6/28 decliners and 1 flat

A good quote from another sums it up, “This is the perfect day that describes what we’re calling the ‘COVID-19 air pocket.’ We have a linearity issue, which is that you can’t get there from here without going through a lot of bad news and some slowdown in the real economy,” Alicia Levine, chief strategist at BNY Investment Management,

My usual morning, 0’dark hundred this a.m. - Just another session of uncertainty … as the algorithms (electronic and quant trading) are punching into share pricing weight, another way of defining (in my words) hungry for profit!

 

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.