Market Overview

Bellicum Shorts Taking Some Heat

Share:
Bellicum Shorts Taking Some Heat
Related BLCM
22 Biggest Mid-Day Losers For Wednesday
12 Biggest Mid-Day Losers For Thursday

Bellicum Pharmaceuticals Inc (NASDAQ: BLCM) shares are trading higher by $1.47 (12.8 percent) at $12.80 in Monday's session.

The stock was cited in Clayton News Review over the weekend discussing the company's current ratio, which is 11.15: "The current ratio, also known as the working capital ratio, is a liquidity ratio that displays the proportion of current assets of a business relative to the current liabilities."

However, the content of the article doesn't necessarily explain the reason for today's rally. Instead, it may be do to short squeeze that was detailed by Michael Collier in Monday's edition of the San Times.

"Bellicum Pharmaceuticals had an increase of 18.37% in short interest. BLCM's SI was 4.24M shares in June as released by FINRA. Its up 18.37% from 3.58M shares previously. With 497,800 avg volume, 9 days are for Bellicum's short sellers to cover BLCM's short positions. The SI to Bellicum's float is 19.33%. About 1.13M shares traded or 115.71% up from the average."

After a higher open, Bellicum's stock had a brief retreat to $12.01 before continuing its move higher. So far, the follow-through rally has taken the stock to $13.00, which falls in between its May 17 high ($12.88) and May 16 high ($13.16).

Posted-In: Technicals Intraday Update Movers Trading Ideas Best of Benzinga

 

Related Articles (BLCM)

View Comments and Join the Discussion!