July 27, 2022 7:56am
Pre-open indications: 2 positive Indications and 1 Puff/Pump/Promote
Earnings this week: Ultragenyx (RARE) and Alnylam Pharmaceuticals (ALNY) on Thursday 7/28
RMi outlines a daily bell ringing of “indications” about what you need to know; it’s what could happen or materialize after the opening and what might happen during the session.
What I provide is a trusted source of share pricing intelligence – it’s more than opinion, I deal in the facts and numbers that back them up.
The 8:00 A.M., ET edition
Remember that overnight and pre-open actions in futures don't necessarily translate into actual trading in the coming day’s session.
Dow futures are UP +0.46% or (+145 points), S&P futures are UP +0.85% (+33 points) and NASDAQ futures are UP +1.41% (+170 points) early in the pre-open – so far,
Stock futures climbed on Wednesday a.m., as traders await the Fed’s latest interest rate decision, scheduled for later in the day,
European markets were cautiously higher,
Asia-Pacific markets traded mixed.
Henry’omics:
U.S. stock indexes fell on Tuesday as the Dow closed DOWN -228.66 points (-0.71%); the S&P closed DOWN -45.84 points (-1.16%) while the Nasdaq closed DOWN -220.09 points (-1.87%)
Stock futures ticked up in overnight trading as traders await the Federal Reserve’s latest interest rate decision, scheduled to be announced Wednesday afternoon.
On target quote, “With so many moving parts to consider, we expect markets to remain volatile after the FOMC meeting,” wrote Mark Haefele of UBS Global Wealth Management. “With the markets anticipating a 3.3% fed funds rate by year-end, this means that after this week’s meeting, there may be around 100bps of rate hikes by end-December. But the pace of hikes remains uncertain.”
Economic Data Docket: interest rate decision on Wednesday afternoon
RegMed Investors’ (RMi) closing bell: “reversing the curse of the oversold at the mid-day until struck-down. Brace for a blitz of earnings and economic data this week, as well as the outcome of the Fed meeting, that will direct expectations for the remainder of 2022.” … https://www.regmedinvestors.com/articles/12534
Ebb and flow –
Q3/22 – 1 holiday, 8 negative and 9 positive closes
Q2/22 –
June – 1 holiday, 9 positive and 11 negative closes
· May - 11 positive and 10 negative closes
· April - 1 holiday, 6 positive and 13 negative closes
Q1/22:
· March – 13 negative and 10 positive closes
· February stats: 11 negative, 8 positive closes and 1 holiday
· January stats: 2 holidays, 1 neutral, 13 negative and 6 positive closes
Companies in my headlights – It’s your decision; I provide ideas and context: INDICATIONS
Positive indications:
Editas Medicine (EDIT) closed down -$0.11 to $16.24 after Monday’s +0.40 after Friday’s -$1.10 <52-week low of $9.59> and Thursday’s -$0.36 with a positive +$0.90 or +5.56% pre-open indication,
Verve Therapeutics (VEVR) closed down -$1.27 to $28.51 after Monday’s -$0.83 with a positive +$0.89 or +3.12%
Puff/Pump and Promote: Maintaining SELL
Biostage (OTCQB: BSTG) closed flat on Tuesday with 0 shares traded after Monday’s down -$0.45 to $4.95 with 974 shares traded, Friday’s +$0.30 to $5.40 with 998 shares traded, Thursday’s +$0.09 with 1,018 shares traded and last Wednesday’s flat with 21 shares traded <3 mo. Average = 1,341 shares>
· BSTG seems to have the ONLY avenue to finance to utilize non-U.S. Chinese investors?
· How much lipstick is a lot on this pig with an almost 4-year-old IND and NO clinical trial initiation?
· WATCH and be ready for a BIG reverse of shares to enable offering from multiple private placements as it tries to facilitate an offering with Newbridge Securities
The BOTTOM LINE: I try to keep it simple … and short!
Sector equity pricing are trending in a roller coaster fashion, currently being at the mercy of electronic trading, inflation, interest rates and earnings.
Sector expectations are really low as earnings season begins this week – RARE and ALNY on Thursday; remember, a little bit of good news can go a long way when you have low expectations.
When a cell and gene therapy sector equity sells-off to or below a buy point, investors face a tough decision: hold tight, exit or trim the position. There's not necessarily a "right" answer. Sometimes the stock will bounce right back, others will keep falling — perhaps after briefly bouncing. A more-cautious approach may make more sense in the current volatile market.
We are up, down, up and down – it gets tiring! Portfolios are wailing, not crying.
We always need a … villain and they are multiplying – low volume as “Earnings’ season is coming, investors NEED to focus on LPS (loss-per-share), collaboration revenues and cash positions i.e., runways”.
Upcoming earnings announcements: earnings as Ultragenyx (RARE) and Alnylam Pharmaceuticals (ALNY) Q2 announcement on Thursday 7/28, Sage Therapeutics (SAGE) on Tuesday, 8/2 and AxoGen (AXGN), Vericel (VCEL) and MiMedx (MDXG), Editas Medicine (EDIT), Fate Therapeutics (FATE) on Wednesday, 8/3 and Ionis Pharmaceuticals (IONS) on 8/9,
Investors are going to need to prepare for another reporting cycle to confirm whether or not a bottom is even close to happening.
There is VALUE out there however, it’s about playing or betting the timing of the sector.
So be extra cautious for the next few days. If you do make new purchases, look for early buying opportunities and try to buy as close to those entries as possible. <IBD>
Whether information or intelligence is good, bad or somewhere in between; RMi’s daily report is a primer that may say little or a lot; yet it serves as insurance that all indications are being examined and evaluated.
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.
All investments are subject to risks. Investors should consider investment objectives.
Regulation Analyst Certification (Reg AC): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions securities referred to in this publication.
