March 14, 2024 8:16am

Their releases effect, infect and affect our cell and gene therapy universe

Earnings: Agenus (AGEN)

Financing: Mesoblast Limited (MESO closed -$0.22 with a +$0.04 aftermarket) has received firm commitments to complete its pro-rata accelerated non-renounceable entitlement offer that was launched on 12/4/23. The “placement” raised gross proceeds of A$97 million (US$64.28 M), including A$36.7 million (US$24.12 M)committed on the same terms primarily from existing major shareholders.

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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.

I answer or qualify the sector’s equity’s movement; with an emphasis on which company is gaining or losing stride in their portfolio for the short-term

 

Thursday: The pre-open Dow futures are UP +0.27% or (+107 points), the S&P futures are UP +0.19% or (+9 points) as the Nasdaq futures are UP +0.20% or (+36 points)

U.S. stock futures rose Thursday,

European markets edged higher,

Asia-Pacific markets were 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 …

Indexes closed mixed, as the Dow closed UP +37.83 points or +0.10%, the S&P closed DOWN -9.96 points -0.19% while the Nasdaq closed DOWN -87.87 points or -0.54%

Economic Data Docket:  producer price index, weekly jobless claims report and retail sales

  • Wholesale prices accelerated at a faster than expected pace in February, another reminder that inflation remains a troublesome issue for the U.S. economy.
  • The producer price index, which measures pipeline costs for raw, intermediate and finished goods, jumped 0.6% on the month. That was higher than the 0.3% forecast from Dow Jones and comes after a 0.3% increase in January.
  • Excluding food and energy, core PPI accelerated by 0.3%, compared to the estimate for a 0.2% increase

 

Wednesday’s night RegMed Investors (RMi) Closing Bell: “drop and give me push-ups, I’ll count until the PPI and jobless claims numbers order. The sector’s ups and downs are synonymous with this exercise.” …  https://www.regmedinvestors.com/articles/13370   

 

Q1/24: march – 3 positive and 6 negative closes

  • February – 1 market holiday, 11 positive and 9 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.

 

Yet again, I am passing on forecasting the daily indications is focused on inflation-oriented PPI, weekly jobless claims report and retail sales “numbers” the aftermarket fluctuated as the pre-open waits for the all-clear alarm, …  it is still a mix of ups, downs and just unknowns.

 

The BOTTOM LINE: I suggest a pullback is likely after the sector had a … daily … rally after 4 negative sector closes.

March has had 3 positive and 6 negative cell and gene therapy sector closes:

  • Wednesday closed with a positive 21 incliners, 13 decliners and 2 flats
  • Tuesday closed with a negative close of 6 incliners, 27 decliners and 2 flats
  • (3/11) Monday closed with a negative close of 7 incliners, 28 decliners and 0 flat,
  • Friday closed with a negative close of 16 incliners, 19 decliners and 0 flat,
  • Thursday closed negative close of 16 incliners, 17 decliners and 2 flats
  • Wednesday closed positive with 21 incliners, 14 decliners and 0 flat,
  • Tuesday closed negative with 5 incliners, 29 decliners and 1 flat,
  • (3/4) Monday’s closed negative with 6 incliners, 27 decliners and 2 flats.
  • (3/1) Friday closed positive with 23 incliners, 10 decliners and 2 flats

 

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.

24 (of 35 covered companies) have reported …13 are left to release earnings of my covered group.

 

There is ALWAYS a however, the cell and gene therapy sector is DUE a rebound EVEN if it is due to algorithms and electronic trading RECOGNIZING risk and the oversold!!

I STILL 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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From Wednesday’s market:

  • The Nasdaq (-0.5%) fell modestly, ceding only a portion of the last 4 negative sessions.
  • The 10-year Treasury yield rose 3.5 basis points to 4.19%.

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.