GME - Why Is Bellicum Pharmaceuticals (BLCM) Stock Up 75% Today?
2023-05-08 07:51:24 ET
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Bellicum Pharmaceuticals (NASDAQ: BLCM ) stock is rising higher on Monday morning following news of an investment in the company .
According to a filing with the Securities and Exchange Commission (SEC), Baker Bros. Advisors LP has taken a 19.99% stake in Bellicum Pharmaceuticals. This comes from its 9,046,298 shares of BLCM stock, as well as 1,948,796 shares available through pre-funded stock warrants that are exercisable within 60 days.
News of that investment was reported on Friday, which resulted in BLCM stock rising in pre-market trading today. That makes sense as the investment from Baker Bros. Advisors LP is major and has likely kicked off interest in the stock.
We’re seeing that today with shares of BLCM stock seeing heavy trading on Monday. As of this writing, more than 3.8 million shares of the company’s stock have changed hands. To put that in perspective, the daily average trading volume for Bellicum Pharmaceuticals stock is closer to 1.2 million shares.
What to Know About BLCM Stock
Bellicum Pharmaceuticals is a cellular immunotherapies company that operates out of Houston, Texas. The company was founded in 2004 and went public via a $160 million initial public offering ( IPO ) in 2014. For perspective, that IPO valued BLCM stock at $16 per share and it closed Friday at 40 cents per share.
BLCM stock is up 74.5% as of Monday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines .
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