Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Our base case continues to be for near-term consolidation while the market determines the implications of states’ reopening (i.e., the “wait-and-see” phase). Until this consolidation period resolves below support or above resistance we are maintaining a relatively neutral stance considering the wide range of outcomes. Many major indexes are testing logical resistance and until we see breakouts it is hard to get too bullish. In this report we highlight attractive stocks from a RS perspective.

Our base case continues to be for near-term consolidation while the market determines the implications of states’ reopening (i.e., the “wait-and-see” phase). Until this consolidation period resolves below support or above resistance we are maintaining a relatively neutral stance considering the wide range of outcomes. Many major indexes are testing logical resistance and until we see breakouts it is hard to get too bullish. In this report we highlight attractive stocks from a RS perspective.

U.S. Equity Strategy: Round Trip Back To Resistance

Chief Investment Officer, KIS Capital Partners

Josh Best

Chief Investment Officer

Boutique absolute return fund manager

KIS Capital Partners

KIS Capital Partners is a boutique absolute return fund manager based in Sydney, Australia with an Asia ex Japan trading focus. We believe that an absolute return fund should be risk and performance focused with strong attention to investment differentiation. Absolute return funds should not be asset gatherers. We invest alongside our clients in liquid and transparent markets with a focus on pragmatic and vigilant risk management.

Thematic (Sector/Industry)

At KIS capital we try to keep ourselves at the forefront of technology and innovation, attempting to identify which industries may blossom, and which may be disrupted. In the middle of 2016, KIS Research published its in-depth report on Autonomous Vehicles. That paper proved to be well ahead of the curve, with autonomous cars and electric vehicles becoming an important investment theme over the last year. To follow up the success of that report, we have released this one, focusing on a new topic: human longevity. We see human longevity as a huge new investment theme. Whilst its impact on the healthcare system alone will be enormous, we expect its ripples to extend further, washing into the broader economy. Human longevity will create a more productive working age population, extend the retirement age, create new consumer spending patterns amongst the elderly, cause a revamp of the superannuation system, increase unfunded pension liabilities, change life and health insurance premiums, and even alter the way in which fiscal policy is managed, to name a few. In this report we will explore the burgeoning technologies that are seeking to extend healthy life well north of 100 years (NB: there is a section on life hacks that you can be doing today to increase your longevity). If this investment theme is of further interest to you, get in touch with us!

At KIS capital we try to keep ourselves at the forefront of technology and innovation, attempting to identify which industries may blossom, and which may be disrupted. In the middle of 2016, KIS Research published its in-depth report on Autonomous Vehicles. That paper proved to be well ahead of the curve, with autonomous cars and electric vehicles becoming an important investment theme over the last year. To follow up the success of that report, we have released this one, focusing on a new topic: human longevity. We see human longevity as a huge new investment theme. Whilst its impact on the healthcare system alone will be enormous, we expect its ripples to extend further, washing into the broader economy. Human longevity will create a more productive working age population, extend the retirement age, create new consumer spending patterns amongst the elderly, cause a revamp of the superannuation system, increase unfunded pension liabilities, change life and health insurance premiums, and even alter the way in which fiscal policy is managed, to name a few. In this report we will explore the burgeoning technologies that are seeking to extend healthy life well north of 100 years (NB: there is a section on life hacks that you can be doing today to increase your longevity). If this investment theme is of further interest to you, get in touch with us!

Fundamental Short Selling Research

Eric Fernandez, CFA

TwoRiversAnalytics

Equity Bottom-Up

MSC Industrial Direct Co Inc / Equity Bottom-Up

Liquidity shorts can be great short candidates.  These shorts tend to have moderate to higher betas, time horizons of six to twelve months, and can have strong down moves as the liquidity crisis gets closer in time.  They can also go bankrupt, pushing the stock price close to zero.  See formatted report attached, and content pasted below.

Liquidity shorts can be great short candidates.  These shorts tend to have moderate to higher betas, time horizons of six to twelve months, and can have strong down moves as the liquidity crisis gets closer in time.  They can also go bankrupt, pushing the stock price close to zero.  See formatted report attached, and content pasted below.

Liquidity Risk Short Candidates: MSC Indus, Alphatec, Intellia Thera, PAR Tech

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

Equity Capital Markets

Sana Biotechnology Inc / Equity Capital Markets

A preclinical biotech company <a href="https://www.smartkarma.com/entities/sana-biotechnology-inc" target="_blank" data-smartkarma-citation="entities:31366:1" rel="noopener">Sana Biotechnology Inc (SANA US)</a>  publicly filed for IPO in January. Sana develops in vivo and ex vivo engineering platforms that can repair and control genes in cells or replace any cell in the body. Technologies are being developed in collaboration with leading academic laboratories and industry partners. Combining science and technology, disruptor and innovative biotech unicorn invests in transformative in vivo and ex vivo engineered cell therapies leveraging proprietary gene editing capabilities. Morgan Stanley, Goldman Sachs, J.P. Morgan and BofA Securities are lead underwriters on the upcoming IPO.<a href="https://www.smartkarma.com/entities/sana-biotechnology-inc" target="_blank" data-smartkarma-citation="entities:31366:1" rel="noopener">Sana Biotechnology Inc (SANA US)</a>  was backed by venture capital firms ARCH Venture Partners, Flagship Pioneering, F-Prime Capital, GV, Bezos Expeditions and other institutional investors. <a href="https://www.smartkarma.com/entities/sana-biotechnology-inc" target="_blank" data-smartkarma-citation="entities:31366:1" rel="noopener">Sana Biotechnology Inc (SANA US)</a> raised ~$706M in funding over 2 rounds, according to S-1 company filings and Crunchbase.

A preclinical biotech company Sana Biotechnology Inc (SANA US)  publicly filed for IPO in January. Sana develops in vivo and ex vivo engineering platforms that can repair and control genes in cells or replace any cell in the body. Technologies are being developed in collaboration with leading academic laboratories and industry partners. Combining science and technology, disruptor and innovative biotech unicorn invests in transformative in vivo and ex vivo engineered cell therapies leveraging proprietary gene editing capabilities. Morgan Stanley, Goldman Sachs, J.P. Morgan and BofA Securities are lead underwriters on the upcoming IPO.Sana Biotechnology Inc (SANA US)  was backed by venture capital firms ARCH Venture Partners, Flagship Pioneering, F-Prime Capital, GV, Bezos Expeditions and other institutional investors. Sana Biotechnology Inc (SANA US) raised ~$706M in funding over 2 rounds, according to S-1 company filings and Crunchbase.

Sana Biotechnology IPO. Moving The Genomic Revolution Forward

Pharma/ Biotechnology Investments Specialist, Vasuda Capital Management

Dr. Bhavneesh Sharma, MD, MBA

Pharma/ Biotechnology Investments Specialist

Vasuda Capital Management

Intellia Therapeutics  / Equity Bottom-Up

Summary: We consider <a href="https://www.smartkarma.com/entities/23650" target="_blank" data-smartkarma-citation="entities:23650:1">Intellia Therapeutics Inc (NTLA US)</a> stock undervalued at current price level. Out first price target is US$32 (sum-of-the parts, risk-adjusted NPV method), which could mean more than 100% upside (2-3 years time-frame).CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) has been in the news recently after being called the discovery of the century. CRISPR is a part of the acquired immune system that protects bacteria and other organisms against attacks by…

 Summary: We consider Intellia Therapeutics Inc (NTLA US) stock undervalued at current price level. Out first price target is US$32 (sum-of-the parts, risk-adjusted NPV method), which could mean more than 100% upside (2-3 years time-frame).CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) has been in the news recently after being called the discovery of the century. CRISPR is a part of the acquired immune system that protects bacteria and other organisms against attacks by…

CRISPR Gene Editing Technology Could Change the World, Part I: Intellia Therapeutics

United States

Intellia Therapeutics, Inc. operates as a biotechnology company. The Company focuses on the research and clinical development of gene editing therapies for patients with genetically-based diseases.

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Intellia Therapeutics (NTLA US)

U.S. Equity Strategy: Round Trip Back To Resistance

Our base case continues to be for near-term consolidation while the market determines the implications of states’ reopening (i.e., the...

Vermilion Research

Human Longevity

At KIS capital we try to keep ourselves at the forefront of technology and innovation, attempting to identify which industries may blossom, and...

KIS Capital Partners

Liquidity Risk Short Candidates: MSC Indus, Alphatec, Intellia Thera, PAR Tech

Liquidity Risk Short Candidates: MSC Indus, Alphatec, Intellia Thera, PAR Tech. All show tight cash positions, some show significant cash burn and...

Eric Fernandez, CFA

Sana Biotechnology IPO. Moving The Genomic Revolution Forward

We expect strong investor demand for upcoming IPO of Sana Biotechnology, disruptor in novel engineered cell therapies to treat cancer, diabetes,...

Andrei Zakharov

CRISPR Gene Editing Technology Could Change the World, Part I: Intellia Therapeutics

Summary: We consider Intellia Therapeutics Inc (NTLA US) stock undervalued at current price level. Out first price target is US$32 (sum-of-the...

Dr. Bhavneesh Sharma, MD, MBA

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