February 28, 2024 7:51am
Investors should become MORE cautious; profit as the earnings’ season starts to evaporate share pricing
Q4 and FY23 Earnings: uniQure NV (QURE), MiMedx (MDXG), Editas Medicine (EDIT) and Voyager Therapeutics (VYGR)
Pre-open Indications: 4 Sell into Strength, 1 Positive and 5 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.
If you’re looking for sector intel, ideas and facts or Insight in a volatile climate, RMi provides the extenuating factors of share pricing.
Wednesday: The pre-open Dow futures are DOWN -0.35% or (-137 points), the S&P futures are DOWN -0.39% or (-20 points) as the Nasdaq futures are DOWN -0.46% or (-83 points)
Stock futures dropped lower Wednesday
European stocks inched lower
Asia-Pacific stock markets mostly fell.
Henry’omics:
We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …
Tuesday: The Dow closed DOWN -96.82 points or -0.25%, the S&P closed UP +8.65 points +0.17% while the Nasdaq closed UP +59.05 points or +0.37.
Economic Data Docket: wholesale inventories data
Tuesday’s night RegMed Investors (RMi) Closing Bell: “a rising tide” … https://www.regmedinvestors.com/articles/13347
Q1/24: February – 1 market holiday, 11 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.
Sell into Strength:
Tuesday, Monday, Friday, Thursday and last Wednesday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Blueprint Medicine (BPMC +$4.74 after Monday’s +$5.56 after Friday’s +$3.49, Thursday’s -$1.26 and last Wednesday’s -$3.99 with a neutral $0.00 or 0.0% pre-open indication
Fate Therapeutics (FATE) closed up +$0.51 after Monday’s -$0.01 after Friday's +$0.08 with a negative +$0.11 or +1.47% pre-open indication.
Ionis Pharmaceuticals (IONS) closed up +$1.31 after Monday’s +$0.74 after Friday’s +$1.38 with a positive +$0.06 or +0.13% pre-open indication
Regenxbio (RGNX) closed up +$1.68 after Monday’s +$0.93 after Friday’s -$0.76 with a neutral $0.00 or 0.0% pre-open post earnings release
Negative Indications:
Tuesday, Monday, Friday, Thursday and last Wednesday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Beam Therapeutics (BEAM) closed up +$9.27 after Monday’s +$1.81 after Friday’s +$0.45 with a negative -$0.02 or -0.04% pre-open indication
CRISPR Therapeutics (CRSP) closed up +$3.06 after Monday’s +$2.07 after Friday’s -$2.20 with a negative -$0.44 or -0.49% pre-open
Ultragenyx Pharmaceuticals (RARE) closed up +$3.41 after Monday’s +$0.77 after Friday’s +$0.60 with a negative -$0.65 or -1.21% pre-open indication
Intellia Therapeutics (NTLA) closed up +$3.36 after Monday’s +$1.56 and Friday’s -$1.08 with a negative -$0.02 or -0.06% pre-open indication
Verve Therapeutics (VERV) closed up +$3.10 after Monday’s +$0.99 after Friday’s +$0.13 with a negative -$0.44 or -2.51% pre-open indication post earnings release
Positive indications:
Tuesday, Monday, Friday, Thursday and last Wednesday’s closing “numbers” with aftermarket/pre-market dollar ($) and cent ($0.00) value and percentage (%)
Vericel (VCEL) closed down -$0.08 after Monday’s +$0.76, Friday’s $, Thursday’s +$0.18 and last Wednesday’s -$1.37 with a neutral $0.00 or 0.0% pre-open indication
The BOTTOM LINE: The cell and gene therapy sector equities had another strong session on Tuesday following Monday, Friday and Thursday, Wednesday’s positive sessions after last Tuesday’s negative session.
- 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 2 net income for the Q4 (but a FY23 loss) – CRISPR Therapeutics (CRSP). and Beam Therapeutics (BEAM) (but each had a FY23 loss)
11 have reported … RegMed Investors (RMi) Research Note: Q4/23 earnings reporting dates, net losses, cash positions and runway outcomes … https://www.regmedinvestors.com/articles/13166
I reiterate, “Don't chase the cell and gene therapy sector.”
Short and non-sweet: SELL into STRENGTH – accumulate some “powder” i.e., cash!
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A quote to ponder, “"It's (the market) been toppy, it feels like it is clearly a little bit stretched. "The market is getting at least attuned to the fact they are not going to get what they want and so it is backing up. ... You're going to see it fade in a hurry if the PCE number comes in as expected or hotter than expected." <Ken Polcari, managing partner at Kace Capital Advisors in Boca Raton, Florida>
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From Tuesday’s market:
- The small-cap Russell 2000 popped 1.4%, getting close to a two-year high set at the end of last year.
- The 10-year Treasury yield rose about two basis points to 4.31%, hovering at 2024 highs.
- U.S. stocks closed near flat on Tuesday ahead of inflation and other economic data that could shed light on the possible timing of a Federal Reserve interest rate cut. <Reuters>
- U.S. consumer confidence retreated in February after a three-month gain, and orders for long-lasting U.S. manufactured goods fell more than expected in January, data on Tuesday showed. <both Reuters>
- The major indexes have been pausing around record highs for the past few days while the Russell 2000 is running back toward a two-year best, reflecting improving breadth. <IBD>
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.
