BlossomHill Therapeutics (NASDAQ:BLSM) Shares Down 6.6% – What’s Next?

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM)’s stock price dropped 6.6% during mid-day trading on Tuesday. The company traded as low as $18.60 and last traded at $18.62. 61,939 shares were traded during mid-day trading, a decline of 72% from the average session volume of 222,648 shares. The stock had previously closed at $19.94.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BLSM. Wall Street Zen lowered shares of BlossomHill Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Lifesci Capital started coverage on shares of BlossomHill Therapeutics in a research note on Tuesday, September 1st. They set an “outperform” rating and a $32.00 price objective for the company. JPMorgan Chase & Co. started coverage on BlossomHill Therapeutics in a research report on Tuesday, September 1st. They issued an “overweight” rating and a $28.00 target price on the stock. Zacks Research upgraded BlossomHill Therapeutics to a “hold” rating in a research note on Wednesday, September 2nd. Finally, Leerink Partners boosted their target price on BlossomHill Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, September 21st. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, BlossomHill Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

BlossomHill Therapeutics Trading Up 0.7%

The company has a market cap of $531.68 million and a price-to-earnings ratio of -1.91. The firm’s 50 day moving average price is $19.75.

BlossomHill Therapeutics (NASDAQ:BLSM) last released its quarterly earnings results on Friday, September 18th. The company reported ($8.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($7.91). Sell-side analysts forecast that BlossomHill Therapeutics, Inc. will post -5.54 EPS for the current year.

Insider Buying and Selling at BlossomHill Therapeutics

In other news, Director Carl Gordon purchased 625,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average price of $16.00 per share, with a total value of $10,000,000.00. Following the purchase, the director directly owned 2,714,279 shares of the company’s stock, valued at approximately $43,428,464. This represents a 29.91% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Vincent Liptak acquired 2,200 shares of the business’s stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $16.00 per share, for a total transaction of $35,200.00. Following the acquisition, the general counsel directly owned 111,412 shares in the company, valued at $1,782,592. This represents a 2.01% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 1,573,900 shares of company stock worth $25,181,900.

About BlossomHill Therapeutics

BlossomHill Therapeutics Inc is a clinical-stage biopharmaceutical company applying an intentional, chemistry-based approach to design and develop small molecule medicines which address significant unmet medical needs in cancer treatment. The company’s lead clinical programs include BH-30643. BlossomHill Therapeutics Inc is headquartered in San Diego, California.