What's Gotten Into Bellicum Pharmaceuticals?

Bellicum Pharmaceuticals Inc BLCM shares were sharply higher on about four times their average volume Monday, seeing bleed-through into Tuesday's pre-market session, where shares were up 4.65 percent at $13.50. The move comes amid a lack of any meaningful news release from the company.

This biotech company develops cellular immunotherapies for various forms of cancer, including both hematological and solid tumors, as well as orphan inherited blood disorder.

The stock, which encountered a resistance around the $22.50 area last November, was on a broader downtrend till the end of January. After moving back and forth across the $13 level until late May, it fell to a one-year low of $9.85 on June 13.

13F Filings Behind The Move?

Bellicum Pharma's annual shareholder meeting was held on Wednesday, June 14, in Houston, Texas, although no earth-shattering news emerged out of it.

The positive move could be traced back to the 13F filings released last week, which showed a few institutional investors either adding to their positions or purchasing new positions in Bellicum Pharma.

Since making that low, the stock has gained roughly 32 percent.

Y Charts

EHA-Driven Move?

Also coming up is a presentation the company has scheduled at the European Hematology Association, or EHA, meeting on Friday. Bellicum Pharma is expected to have two oral presentations and a poster presentation, all focusing on BPX -501 cells.

BPX-501, Bellicum's lead product candidate, is an adjunct T-cell therapy being evaluated initially in children with leukemias, lymphomas and genetic blood diseases undergoing T-depleted, haploidentical hematopoietic stem cell transplantation with encouraging results.

Rumor has it that company may present data at the EHA meeting. Given that the company has already released the abstracts, the event might not be, that much of a market mover, as the market would have already digested the data and its implications.

Short Squeeze Potential

Then, there is also the likelihood of a short squeeze, as short interest in the stock rose over 18 percent in June. Short squeeze results when there is a strong demand for the stock even as supply remains anemic, which pushes up the price of the stock.

The conjectures remain just that, however, as the company refrained from clarifying when contacted by Benzinga.

These conjectures were compiled first on BenzingaPro, the real-time news terminal for all your trading needs!

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