BlossomHill Therapeutics (NASDAQ:BLSM) Stock Price Down 4.9% – Here’s What Happened

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM) shares fell 4.9% on Wednesday. The stock traded as low as $20.33 and last traded at $20.33. 22,349 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 221,659 shares. The stock had previously closed at $21.37.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BLSM. Lifesci Capital initiated coverage on shares of BlossomHill Therapeutics in a research report on Tuesday, September 1st. They issued an “outperform” rating and a $32.00 price objective for the company. Guggenheim lifted their price target on shares of BlossomHill Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, September 21st. Leerink Partners increased their price objective on shares of BlossomHill Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, September 21st. Wall Street Zen raised BlossomHill Therapeutics to a “hold” rating in a research report on Saturday, August 15th. Finally, JPMorgan Chase & Co. began coverage on shares of BlossomHill Therapeutics in a report on Tuesday, September 1st. They issued an “overweight” rating and a $28.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, BlossomHill Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

BlossomHill Therapeutics Price Performance

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

Insiders Place Their Bets

In other news, General Counsel Vincent Liptak acquired 2,500 shares of BlossomHill Therapeutics stock in a transaction on Friday, August 7th. The stock was bought at an average price of $15.80 per share, for a total transaction of $39,500.00. Following the completion of the purchase, the general counsel owned 109,212 shares in the company, valued at $1,725,549.60. This represents a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Orbimed Advisors Llc acquired 625,000 shares of the business’s stock in a transaction 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 transaction, the director owned 2,714,279 shares in the company, valued at $43,428,464. The trade was a 29.91% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 1,573,900 shares of company stock worth $25,181,900.

BlossomHill Therapeutics Company Profile

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.