Kyle Dennis made Bellicum Pharmaceuticals (BLCM) the Biotech Breakout of the Week on MoneyLife with Chuck Jaffe, noting that the gene-therapy company has a data release planned for Nov. 1 with a follow-up catalyst with data being released in early December. He’s expecting the stock to have a run-up prior to the Nov. 1 event, and is looking to buy it on dips between $10 and $10.50, thinking it has “tremendous upside” based on previous highs, which should carry the stock to or beyond $14. Dennis wrote on RagingBull.com last week that he expects an downturn in biotech stocks; he believes that downturn will put Bellicum into his buying zone soon, giving him plenty of time to buy the stock ahead of the catalyst date.
Kyle Dennis is an events-based trader who runs Kyle Dennis’ Biotech Breakouts (biotechbreakouts.com). He had no position in BLCM when he recorded this interview on Friday, Sept. 15, but was planning to buy in on dips, as he discussed. The Raging Bull podcast features experts from the site talking with Raging Bull editor Chuck Jaffe on his show, “Money Life with Chuck Jaffe.” You can learn more about Chuck’s daily hour of market and personal-finance chat at MoneyLifeShow.com; you can subscribe to the Raging Bull podcast via iTunes and other podcast providers.