February 8, 2022 8:07am
Not quite Abbot & Costello but, the algorithms are warming-up to pitch
Pre-open indications: 3 BUYs, 2 SELLs, 2 Sells into Strength and 1 PUMP/PROMOTE
News: Applied Genetic Technologies Corporation (AGTC +$0.10) - AGTC-401 demonstrated a favorable safety profile through second-highest dose (1.1E+12 vg/mL) in ACHMB3 pediatric patients. Totality of data from adult and pediatric patients indicate biologic activity and reaffirm previous positive safety findings in adults. Sangamo Therapeutics (SGMO -$0.02) updated preliminary results from the P1/2 STAAR clinical study evaluating isaralgagene civaparvovec, or ST-920, a wholly owned gene therapy product candidate for the treatment of Fabry disease.
What I provide is an intelligence daily. RMi outlines a daily bell weather of “indications” about what you need to know; it’s what could happen or materialize after the opening and what might happen during the session.
Remember that overnight and pre-open actions in futures don't necessarily translate into actual trading in the coming day’s session.
Remember that overnight and pre-open actions in futures don't necessarily translate into actual trading in the coming day’s session.
Only the facts … I ask questions and note the probabilities
Dow futures are UP +0.01% (+2 points), S&P futures are DOWN -0.19% (-8.50 points) and NASDAQ futures are DOWN -0.40% (-58 points)
U.S. stock index futures crept up, mixed and some lower during pre-open trading Monday
European stocks were cautiously higher with global investors looking ahead to U.S. inflation data released later this week.
Asia-Pacific stocks were mixed, as Chinese markets led losses regionally.
Henry’omics:
By Monday’s session’s end, the Nasdaq had closed in the red shedding -0.58% or -82.34 points.
Futures on all three main indexes were flat ahead of overnight trading after equities extended a streak of volatility that has become the norm (so far). In Monday's main session, the S&P 500 faltered after its best weekly rise of the year, while the Dow was little changed and the Nasdaq continued its sell-off as pressures in technology stocks persisted.
Economic Data Docket: Traded deficit numbers
Earnings’ Note: Pfizer (PFE) to report record-shattering revenues. Not only is the company continuing to sell tens of billions of dollars’ worth of its Covid-19 vaccine, but Pfizer (ticker: PFE) is now also selling the leading antiviral treatment for the coronavirus.
If you didn’t remember what happen at Monday’s close, you won’t be prepared for today’s session,
RegMed Investors’ (RMi) closing bell: “another bounce, dips got bought yet, the sector could end-up with overbought and volatile bottoms again” … https://www.regmedinvestors.com/articles/12289
Ebb and flow –
- February stats: 2 negative and 3 positive closes
- January stats: 1 holiday, 1 neutral, 13 negative and 6 positive closes
Companies in my headlights – It’s your decision; I provide an idea and context:
Probabilities/ Potentials pre-open share pricing indication moves:
SELL from BUY:
Alnylam Pharmaceuticals (ALNY) closed up +$3.23 to $148.65 after Friday’s +$2.91 to $145.42, Thursday’s $142.51, Wednesday’s $145.26 and last Tuesday’s $144.29 with a negative -0.45 or -0.30% pre-open indication.
Editas Medicine (EDIT) closed up +$0.59 to $19.32 after Friday’s +$0.76 to $18.73, Thursday’s $17.97, Wednesday’s $18.22 and last Tuesday’s $19.69 and last Monday’s $19.04 with a negative -$1.36 or -7.04% pre-open indication
SELL into Strength:
Intellia therapeutics (NTLA) closed up +$1.47 to $97.43 after Friday’s +$1.43 to $95.96, Thursday’s $94.53, Wednesday’s $95.39 and last Tuesday’s $99.80 with a positive +$0.36 or +0.37% pre-open
Ionis Pharmaceuticals (IONS) closed up +$0.96 to $32.46 after Friday’s +$0.43 to $31.50, Thursday’s $31.07, Wednesday’s $31.50 and last Tuesday’s $31.51 with NO pre-open indication
Sage Therapeutics (SAGE) closed up +$1.88 to $43.90 after Friday’s +$1.43 to $42.02, Thursday’s $40.59, Wednesday’s $40.22 and last Tuesday’s $40.69 with NO pre-open indication.
BUY:
Applied Genetic Technologies Corporation (AGTC) closed up +$0.08 to $2.19 and has a positive +$0.10 pre-open indication based on news of AGTC-401 demonstrating a favorable safety profile through second-highest dose (1.1E+12 vg/mL) in ACHMB3 pediatric patients. Totality of data from adult and pediatric patients indicate biologic activity and reaffirm previous positive safety findings in adults.
CRISPR Therapeutics (CRSP) closed up +$0.47 to $62.36 after Friday’s $61.89 and Thursday’s $60.40, Wednesday’s $62.12 and last Tuesday’s $65.53 with a positive +$0.78 or +1,25% pre-open indication.
Brainstorm Cell Therapeutics (BCLI) closed up +$0.17 to $3.28 after Friday’s $3.11 with a positive +$0.06 or +1.83% pre-open indication.
PIMP/PUMP and Promote:
Biostage (OTCQB: BSTG) closed up +$0.55 with 2,311 shares traded after Friday’s +$0.22 with 305 shares traded after Thursday’s flat (-$0.00) with 3 shares traded after Wednesday’s -$0.53 with 502 shares traded after Tuesday’s +$0.40 with 1,088 shares traded, Monday’s flat with 11 shares traded, Friday’s +$0.05 to $3.90 with 3,362 shares traded and last Thursday’s +$0.24 to $3.85 with 10,073 shares traded. WHO is BUYING these shares of a company with a 2-year-old IND, NO clinical trial initiation, a terminal death lawsuit overhang and a dwindling cash position overseen by a devious management team with NO regard for U.S. investors?
The BOTTOM LINE: The cell and gene therapy sector’s relative valuation metrics suggest earnings are about to hit and hard.
Earnings drove a lot of the market moves last week; will it drive us?
“Our” universe has had a whipsaw week and it could continue uncomfortably as earnings’ season begins
It wouldn't be terrible if the cell and gene therapy sector traded backward a bit or even sideways, but I doubt that it will after the ranges of Monday’s advance/decline line of 29/4 and Friday’s 30/4
The previous Wednesday's intraday lows and Thursday’s lows “barreled more bottoms” to initiate repair share pricing, rather than try to race back to new highs. Stronger stocks could flex more relative strength as they moved into position.
Investors have to recognize what kind of market we are in – VOLATILE with LOW VOLUME. Which gives us reasons to be cautious.
It's not a great time to be adding exposure i.e., risk, until earnings offer a better signal. Beaten-down stocks will have rebounds but, what is sustainable, while sector stocks are flashing buy signals.
Pay attention to volatility, most times the effect of dramatic upside moves after multiple downsides weekly “plays” could end-up being BUYs – in my view.
Earnings’ reporting:
- Ultragenyx Pharmaceuticals (RARE) – 2/10, Thursday
- Alnylam Pharmaceuticals (ALNY) – 2/10, Thursday
- Applied Genetic Technologies (AGTC) Monday, 2/14
- AxoGen AXGN) – 2/22, Tuesday
Investors should focus on forward-looking guidance, last year’s operating losses i.e., spending and cash positions or runways!
I am NOT changing my position, “Brace for more choppiness as we move further into the month and the beginning of Q1/22 waiting for Q4 and end-of-year numbers”.
- I say today what others won't, so you can do what others can't whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors
So, my bottom of the Bottom Line, Investors should be extremely cautious about adding any new exposure.
- RMi’s daily report is a primer that may say little or a lot; yet it serves as insurance that all indications are being examined and evaluated.
WHY do I keep reporting on Biostage (BSTG): I WAS there to experience what occurred and saw the decay of transparency and more; it takes courage, resolve and patience to stay the course of asking the questions without response!
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 their 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 does not hold or have positions in FATE, CRS, securities referred to in this publication.
