November 23, 2020 7:42am
Don’t let the newest vaccine news and gains get swept from the table as the Nasdaq marked its second straight week of advances
Pre-open indications: 2 BUYs and 5 SELLs
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 +0.56% (+165 points), S&P futures are UP +0.48% (+17 points) and NASDAQ futures are UP +0.29% (+35 points)
U.S. stock market futures were higher on Monday,
European markets also climbed as the pan-European Stoxx 600 gained +0.6% in early trade,
Asia-Pacific markets followed with the MSCI’s index of broadest shares outside Japan rising +0.84%.
Henry’omics
AstraZeneca and the University of Oxford said their interim analysis showed its vaccine has an average efficacy of 70% with one dosing/infusion regimen up to 90% effective, becoming the third inoculation this month that was revealed to be effective in trial data.
Friday, the Dow fell -0.73% and S&P 500 dumped -0.77%; while the Nasdaq added +0.22% for the week.
As Covid-19 cases continued to rise, spiking more than 195,500 new cases on Friday with a warning that Thursday’s Thanksgiving celebrations could further exacerbate the outbreak.
An Update: RegMed/Cell and Gene Therapy Earnings Scorecard Q3/20 LPS Results https://www.regmedinvestors.com/articles/11628
Friday night’s recap: RegMed Investors’ (RMi) closing bell: “market’s final hour lowers the threshold as the stem, cell and gene therapy sector resembles a safe haven for some equities”
- The Nasdaq closed DOWN -49.74 points (-0.42%);
- The IBB closed up +0.56% and XBI closed up +0.78%
- Sector volume was the usual LOW with 5 of the 20-upside having higher than the 3-month average volume with the increased volume of 9 of 13-downside having higher than the 3-month average volume;
- Friday’s CBOE Volatility Index (VVIX: INDEX) was up +0.59 points or +2.55% at 23.70;
- Friday’s percentage (%) of the 20-upside were +0.09% (GBT) to +16.88% (MESO) while the 13-downside ranges from -0.11% (QURE) to -4.30% (CLLS);
Q4’s: November, so far: 12 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 $1.49 with 1,704 shares traded after Thursday’s +$0.09 with 6,351 shares traded), Wednesday’s $1.40 after Tuesday’s +$0.05 to $1.40 with only 371 shares traded, and last Monday’s -$0.12 to $1.35 with 200 shares traded).
- Question#1: WHAT does Beijing dictate (?), the REAL POWER behind BSTG is a chairman of a Beijing, China based cell phone and technology company and who is “married” to the head of DST Capital, BSTG’s funder (?) where also BSTG’s chairman of the board Jason Chen works?
- Question#2: WHAT IF, the WeChat U.S. ban succeeds, HOW will communication work to its masters?
SELL into Strength:
Athersys (ATHX) closed up +$0.09 to $1.64 after Thursday’s $, Wednesday’s $, Tuesday’s $ and last Monday’s $ with a NEGATIVE -$0.01 or -0.61% aftermarket (Friday) indication. What has ATHX returned after all these years (?) – more spending, multiple offerings and a totally overpaid management team
CRISPR Therapeutics (CRSP) closed up +$0.46 to $109.70 after Friday’s +$2.49 to $109.24, Wednesday’s -$1.82 to $106.75, Tuesday’s +$1.81 to $108.57 and last Monday’s +$2.80 to $106.76 with a POSITIVE +$0.20 or+-0.18% aftermarket indication, a “peaky” chart and a 52-week change of +67.05% and a short percentage (%) of float of -10.18%
Fate Therapeutics (FATE) closed up +$2.94 to $52.65 99 after Thursday’s $49.71, Wednesday’s $49.72, Tuesday’s $52.42 and last Monday’s $52.80 with NO aftermarket (Friday) indication. A 52-week change of +248.44% and a short percentage (%) of float of -23%;
Mesoblast (MESO) closed up +$1.99 to $13.78 after Thursday’s $11.79, Wednesday’s $11.80, Tuesday’s $11.76 and last Monday’s $11.90 with a NEGATIVE -$0.09 or -0.65% aftermarket (Friday) indication
BUY:
Applied Genetic Technologies (AGTC) closed down -$0.06 to $3.99 after Thursday’s $4.05, Wednesday’s $4.31, Tuesday’s $4.3 and last Monday’s $4.93 with a POSITIVE +$0.06 or +1.50% aftermarket (Friday) indication. The last time a bottom was seen ($2.53) on 3/16, having started 1/2/2020 at $4.15. Needs a new CEO and replaced board of directors (BOD) – late to any clinical results “party” and replacing for personnel and timing deficiencies;
bluebird bio (BLUE) closed down -$1.09 to $43.07 after Thursday’s $44.16, Wednesday’s $44.43, Tuesday’s $46.36 and last Monday’s $46.40 with a POSITIVE +$0.28 or +0.65% aftermarket (Friday) indication. A 52-week change of -42.45% and a 52-week high of $99.36 with a low of $38.95 – OVERSOLD;
The BOTTOM LINE: The iShares NASDAQ Biotechnology (IBB) ended the week -0.05% and the SPDR S&P ETF (XBI) ended the week +3.26%.
As we approach the week, having longed for a get-together Thanksgiving holiday; one concern continues to be, job loss fears amid lockdowns and family disharmony.
Election concerns undermine most conversations and the possible actions by the new administrations tax policies.
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.
