Regenerative Medicine Mid-Week Trend Line

Shares of regenerative medicine stem cell companies were resurrected from depreciating markets on Wednesday, 5/25/11.

Markets finished modestly higher in quiet trading on Wednesday brushing aside continued negative Eurozone headlines and a weaker than expected durable goods report. Today’s gains were made in an almost listless fashion and there did not seem to be any obvious driver. Commodity related sectors were the best performers.

At the end of the day, the NASDAQ was UP 15.22 (0.55%) to 2761.38. The Dow was also UP 38.45 (0.31) to 12,394.66.

Visibility is NO BETTER as our universe market comes back slowly.  Increasing elements of conviction continue to be the indicator of momentum initiatives

Advancers (13):

• Aastrom (ASTM) up $0.13 (4.63%) to $2.94;  
• Athersys (OTC:ATHX) up $0.02 (0.54%) to $2.80;
• Brainstorm (BCLI) up $0.015 (5.66%) to $0.28;
• BioMimetic (BMTI) up $0.21 (2.69%) to $8.03;  
• BioTime (AMEX: BTX) up $0.15 (3.21%) $4.83;
• Cytori (CYTX) up $0.39 (7.60%) to $5.52;
• Geron (GERN) up $0.05 (1.13%) to $4.46;
• ImmunoCellar Therapeutics (OTCPK:IMUC) up 0.07 (3.93%) to $1.85;  
• International Stem Cell (OTCQB:ISCO) up $0.10 (9.52%) to $1.15;
• Neuralstem (AMEX:CUR) up $0.03 (2.38%) to $1.29;
• Osiris (OSIR) up $0.04 (0.59%) to $6.86;
• Tengion (TNGN) up $0.05 (3.53%) to $1.50;
• ThermoGenesis (KOOL) up $0.03 (1.34%) to $2.26.    

Decliners (7):  

• Advanced Cell Technology (OTC: ACTC) down $0.002 (-0.97%) to $0.193;
• BioHeart (BHRTE.OB) down -$0.010 (-5.56%) to $0.17;
• NeoStem (AMEX: NBS) down $0.02 (-1.24%) at $1.59;
• Opexa (OPXA) down -$0.02 (-1.21%) $1.63;
• Pluristem (PSTI) down  -$0.03 (-1.12%) to $2.66;
• ReNeuron Group (RENE.L) down -$0.1 (-2.13%) to $4.83; 
• StemCells (STEM) up $0.004 (-0.66%) to $0.646.  

The Bottom Line: There are now several strong yet subtle technical forces combining to keep a lid on the NASDAQ. It now looks as if this index has seen its high for a while. But this strong performance …the NASDAQ is at levels not seen in 3 ½ years — is a mixed blessing. My recent over-used cliché to “Sell in May and go away” seems to be borne out, again. Evidence is accumulating that the stock market has hit an intermediate-term peak amid the deepening European sovereign debt crisis, signs of slower US economic growth and the imminent end to the Federal Reserve’s liquidity injections. So, hold on as déjà vu all over again seems an apt cliché.

As I predicted Cytori (CYTX) up $0.39 (7.60%) to $5.52 turned my BOTTOM view in its recent appreciation; followed by BioMimetic (BMTI) up $0.21 (2.69%) BioTime (AMEX: BTX) up $0.15 (3.21%) and surprisingly, Aastrom (ASTM) up $0.13 (4.63%). Always, reiterating, short sale ratio data continues to carry significance.  

But despite all the gyrations, valuations in the RegenMed/StemCell universe are reasonable – in some cases outright cheap. But, beware of those companies with needs for cash via offering dilution in the next few months!!