Tuesday, August 11, 2009

Mkt, Stem Cells Pull Back Tuesday 8.11

Tuesday 8.11.09: DOW -96(-1%)@9,241..NAS -22.5(-1.1%)@1,970..SP500 -12.75(-1.3%)@994

BIO-Stem Index: -1.8@140.4 (-1.27% today, +40.4% ytd)
BIO-ETF Index: -.35@109.9 (-.32% today, +9.9% ytd)
[Stem cell index beating biotech by 27.7%, the gap is closing]

Now suddenly, in spite of the jobs report, "the market is ahead of itself, needs to correct".. Ok, the market manipulators have spoken, and all the indices fell over 1% each today. Our stem cell index fell 1.3% also, but the ETF's only fell .3%, having a lower beta as a group. Only 9 stem cell stocks rose today, 22 fell. OPXA gave back 13.5% more of its gains. AVNR rose 29.7% (80% intraday) on good Phase III results of a drug for emotional outbursts due to neurological disorders ( Reuters story here ). JAV fell 27.5% on disappointing results for its interim pain drug.

Stem Cell Stocks (9 up, 22 down, 1 unch.)
Big Winners: AMGN +2.6%, ATHX +2%, CRA +2.4%, CUR +5.7%
Losers: ASTM -5%, ARIA -4.3%, AVII -4.1%, CRIS -4.1%, OPXA -13.5%, SQNM -5.5%

Swine Flu Stocks
AVII -4.1%, BCRX -2.8%, DVAX -1.8%, GILD -.8%, INHX -4.3%, INO -3.9%, NVAX -2.8%, SIGA -1.1%, SVA +.4%

Other Biotech
Big Winners: ANDS +5.9%, AVNR +29.7%, GTCB +5%, HGSI +5.8%, JAZZ +6.9%, MNOV +11.1%, ONCY +13.9%, SUPG +6.7%
Losers: AGEN -4.2%, ARIA -4.3%, CBI -6.1%, CERS -5.3%, CPD -6.5%, CRME -8.2%, DCTH -5.8%, DSCO -4.1%, ELRN -4.7%, IMMU -6.2%, JAV -27.5%, KVA -7.4%, NVGN -5%, PLX -4.6%, QGLY -4.3%, RPRX -12.6%, SGEN -7.2%, SOMX -4.7%, TISA -6.3%, YMI -8.7%

Disclosure: long AVNR, GERN, ONXX, FAS.



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The Author at EZines


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A company issuing stock gets it's money when the stock goes public, called IPO for Initial Public Offering. However, if the stock takes off due to future expectations, the company can capitalize by issuing more stock and raising money near the current price, so investing in these small biotech companies increases their chances of succeeding by raising enough additonal capital that they don't need to take on debt.

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