November 13, 2020 8:31am
As uncertainty reigns
Pre-open indications: 2 BUYs and 5 SELLs
News: a number of covered companies making presentations at American Heart Association (AHA) Scientific Sessions 2020 to be held virtually November 13-17, 2020
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
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Dow futures are UP +0.71% (+206 points), S&P futures are UP +0.64% (+23 points) and NASDAQ futures are UP +0.68% (+80 points)
U.S. stock futures were higher early Friday;
Europe markets opened lower on rising COVID-19 cases with the pan-European Stoxx 600 dipping -0.4% shortly after the opening;
Asia-Pacific markets were mixed as coronavirus cases continue to surge in the U.S., dimming optimism from positive vaccine news. MSCI’s broadest index of Asia-Pacific shares outside Japan rose +0.38%.
Henry’omics:
Politics have to be put aside for a stimulus package to be approved as …
A mid-week rotation paused over worries that a rising number of coronavirus cases could hit even harder the economy before a vaccine gets here.
Friday night’s recap: RegMed Investors’ (RMi) closing bell: “where there was a spark became a sector fire to close negative. Thursday’s moves came as the number of coronavirus cases continues to rise”
- The Nasdaq closed DOWN -76.84 points (-0.65%)
- The IBB closed up +0.01% and XBI closed up +0.06%
- Sector volume was the usual LOW with 5 of the 15-upside having higher than the 3-month average volume with the increased volume of 6 of 19-downside having higher than the 3-month average volume;
- The CBOE Volatility Index (VVIX: INDEX) was up +1.90 points or +8.10 % at 25.35;
- Thursday’s percentage (%) of the 15-upside were +0.04% (ADVM) to +6.85% (GBT) while the 19-downside ranges from -0.15% (BLUE) to -5% (BSTG);
Q4’s: November, so far: 7 positive and 2 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 down -$0.075 to $ after Wednesday’s flat at $1.50 with 55 shares traded after Tuesday’s +$0.15 to $1.50 with 200 shares traded, Monday’s -$0.25 to $1.35 with 2.235 shares traded and last Friday’s +$0.23 to $1.60 with 635 shares traded).
- Question#1: WHAT role has Frasier Mac Neilly played as the IT professional and facilities manager?
- Question#2: Other questions relate to WHY was he in receipt of the pre-auditor needs list and then did NOT turnover the review to the previous interim CFO and then also stymied the digital, software and hardware reviews by a forensic and financial consultant team which caused the turn-around professional team to exit the company?
- Question#3: DO 3 working employees 84 October Hill Road need 17,000 square feet of mixed purpose space at $585 K a year including equipment? The list goes on …
- Question#4: How much does it cost to date to open a door NO ONE comes through to work?
- Question#5: WHAT is the STATUS of Biostage as a majority Chinese owned and operated company now that “President Trump signed an order prohibiting U.S. investments in Chinese firms determined to be owned or controlled by the country’s military <the latest bid by the White House to pressure Beijing over what the president has described as abusive business practices>. Is China is “exploiting” U.S. (recieving PPP funds without repayment?) capital” posing a threat to the U.S., according to the executive order, signed on Thursday.”
SELL:
Precigen (PGEN) closed up +$0.15 to 45.93 after Thursday’s -$0.22 to $5.78, Tuesday’s $6.00, Monday’s $5.43 and last Friday’s $4.91 with a NEGATIVE -$0.03 or -0.51% aftermarket indication;
Global Blood Therapeutics (GBT) closed up +$2.58 to $40.23, after Thursday’s $47.65, Wednesday’s $37.80, Tuesday’s $38.35, Monday’s and last Friday’s $38.21 with a NEGATIVE -$0.68 or -1.69% aftermarket indication
Maintaining SELL into Strength:
Fate Therapeutics (FATE) closed down -$1.70 to $51.98 after Thursday’s +$0.77 to $53.38, Tuesday’s $52.61, Monday’s +50.69 and last Friday’s $48.28 with a NEGATIVE -0.40 or -0.77% aftermarket indication after reaching a 52-week high and 52-week change of +258.05% - “ripe for profit-taking”;
BUY:
Editas Medicine (EDIT) closed down -$1.30 to $27.80 after Thursday’s $29.10, Wednesday’s $29.88, Tuesday’s $30.41 Monday’s $30.49 and last Friday’s $31.55 with a POSITIVE +$0.24 or +0.86% aftermarket indication;
Maintaining BUY:
uniQure NV (QURE) closed down again -$0.88 to $42.44 after Thursday’s -$0.88 to $43.12, Tuesday’s $44.00, Monday’s $42.00 and last Friday’s $40.98 with a POSITIVE +$0.09 or +0.22% aftermarket indication;
Maintaining SELL:
Verastem (VSTM) closed up +$0.08 to $1.51 after Thursday’s $1.43, Wednesday’s $1.43, Tuesday’s+$0.12 to $1.43, Monday’s $1.31 and last Friday’s $1.22 with a NEGATIVE -$0.03 or -1.99% aftermarket indication;
The BOTTOM LINE: Realities are … beginning to set-in re financial disasters of the economy and slow recovery.
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.
