February 22, 2024 8:11am

After a weak Wednesday with sector earnings today

Earnings: Intellia Therapeutics (NTLA) <in Bottom Line)

Pre-open Indications: 3 Positive and 3 Negative Indications:

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Remember that overnight and pre-open actions’ futures and global markets doesn't necessarily translate into actual trading in the today’s market session.

There is no breadline for share pricing and fact-based intelligence!

I also follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”

 

Thursday: The pre-open Dow futures are UP +0.38% or (+146 points), the S&P futures are  UP +1.26% or ( +62 points) as the Nasdaq futures are UP +2.03% or (+356 points)

Stock futures rose Thursday,

European markets were higher,

Asia-Pacific markets trade mixed.

 

Henry’omics:

We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …

Wednesday, indexes closed mixed … as the Dow closed UP +48.44 points or +0.13%, the S&P closed UP +6.29 points +0.13% while the Nasdaq closed DOWN -49.91 points or -0.31%

On Wednesday, minutes from the Federal Reserve’s last meeting showed that central bank officials expressed caution about lowering interest rates too quickly and emphasized the importance of “carefully assessing” incoming data in judging whether inflation is moving down sustainably to 2%. <CNBC>

Economic Data Docket: weekly jobless claims data and existing home sales figures from January.

 

Wednesday’s night RegMed Investors (RMi) Closing Bell: “cell and gene therapy equities closes barely positive … https://www.regmedinvestors.com/articles/13339   

 

Q1/24: February – 1 market holiday, 7 positive and 7 negative closes

  • January: 2 holidays, 11 negative and 8 positive closes

 

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

I post about “indication intelligence” devoting my time to collection and analysis of information to assist investors with insight into sector vulnerabilities and strengths. A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.

Negative Indications:

Wednesday, Tuesday, Monday’s holiday, Friday and last Thursday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Ultragenyx Pharmaceuticals (RARE0 closed up +$0.31 after Tuesday’s -$1.05 and Friday’s +$2.66 with a negative -$1.17 or -2.43% pre-open indication.

Voyager Therapeutics (VYGR) closed up +$0.07 after Tuesday’s +$0.02 and Monday’s holiday with a negative -$0.05 or -0.65% pre-open indication.

Intellia Therapeutics (NTLA) closed down -$0.27 after Tuesday’s -$0.59, Monday’s holiday and Friday’s -$0.73 with a negative -$0.05 or -o.19% pre-open indication. Earnings’ reporting today.

 

Positive Indication:

Wednesday, Tuesday, Monday’s holiday, Friday and last Thursday’s closing “numbers” with aftermarket dollar ($) and cent ($0.00) value and percentage (%)

Alnylam Pharmaceuticals (ALNY) closed up +$5.05 after Tuesday’s +$2.69 and Friday’s -$0.43 with a positive +$1.26 or +0.81% pre-open indication.

CRISPR Therapeutics (CRSP) closed up +$3.68 after a net income from Q4/23 and a net loss for FY23 ; also announcing a Registered Direct Offering (RDO) of $280 M priced at $71.50 with a negative -$0.13 or +$0.89 or +1.08% pre-open indication.

Editas Medicine (EDIT) closed up +$0.06 after Tuesday’s -$0.20, Monday’s holiday and Friday’s -$0.16 with a positive +$0.16 or +2% pre-open indication.

 

The BOTTOM LINE: The cell and gene therapy sector equities had a weak yet, positive session after Tuesday’s negative session, Monday’s holiday and Friday’s negative close.

The remainder of the month’s trading sessions will be critical as the RegMed sector continues earnings’ in LPS (loss-per-share) season, estimates and consensus which set market reaction and will report “runways” and those whose cash positions render their future questionable.

I have seen 1 net income for the Q4 (but a FY23 loss) – CRISPR Therapeutics (CRSP).

6 have reported … CRSP, IONS, SAGE, RARE, BPMC and ALNY.

 

Earnings +1: Intellia Therapeutics (NTLA)

  • Net loss of $132.2 M or -$1.46 per share for Q4;
  • Net loss for FY23 was $481.19 M or -$5.42 per share
  • Expects a year-over-year decline in earnings on higher revenues when NTLA reports results for Q4/23.
  • NTLA posted quarterly loss of $1.46 per share in earnings report.
  • Cash was $1 B,
  • The decrease was offset in part by $119.8 million of net equity proceeds from the Company’s “At the Market” (ATM) program, $49.8 million of interest income, $18.7 million of reimbursement from its collaborators, and $10.5 million in proceeds from employee-based stock plans.
  • The runway funds operations into mid-2026.
  • Revenues decreased by -$15.5 M.

 

I reiterate, “Don't chase the cell and gene therapy sector, especially with the Nasdaq extended.”

Short and non-sweet: SELL into STRENGTH – accumulate some “powder” i.e., cash!

 

Welcome to my world of defining the “grey’ in our universe!

  • Right up front, “I also hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I can always be WRONG but … I am mostly EARLY!”
  • The sector is what it is, until it isn’t and even then, it doesn’t seem to be… as NOT much changes as the sector’s share pricing rides the waves of volatility, algorithms, electronic trading and short covering.

 

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.

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.  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 could hold or have positions securities referred to in this publication and he will NOTIFY investors of holdings.