BlossomHill Therapeutics, Inc. (NASDAQ:BLSM) Shares Shorted: Short Interest Up 244.4% in September

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 473,807 shares, a growth of 244.4% from the September 15th total of 137,567 shares. Based on an average trading volume of 291,746 shares, the short-interest ratio is currently 1.6 days. Approximately 1.5% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BLSM. HC Wainwright reissued a “buy” rating on shares of BlossomHill Therapeutics in a report on Wednesday, September 30th. Leerink Partners upped their target price on shares of BlossomHill Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, September 21st. Lifesci Capital started coverage on shares of BlossomHill Therapeutics in a research note on Tuesday, September 1st. They issued an “outperform” rating and a $32.00 target price on the stock. 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 target for the company. Finally, Wall Street Zen lowered shares of BlossomHill Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, BlossomHill Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $35.00.

BlossomHill Therapeutics Trading Down 1.2%

Shares of NASDAQ BLSM traded down $0.21 during midday trading on Monday, hitting $17.27. 91,059 shares of the company’s stock were exchanged, compared to its average volume of 221,286. The firm has a fifty day moving average price of $19.64. The stock has a market capitalization of $548.84 million and a P/E ratio of -1.97. BlossomHill Therapeutics has a 12-month low of $15.25 and a 12-month high of $27.99.

BlossomHill Therapeutics (NASDAQ:BLSM) last issued its quarterly 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). On average, equities research analysts forecast that BlossomHill Therapeutics will post -5.54 earnings per share for the current year.

Insider Transactions at BlossomHill Therapeutics

In related news, Director Orbimed Advisors Llc purchased 625,000 shares of BlossomHill Therapeutics stock in a transaction dated Monday, August 10th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $10,000,000.00. Following the completion of the transaction, the director owned 2,714,279 shares in the company, valued at $43,428,464. This trade represents a 29.91% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John P. Schmid acquired 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average cost of $16.00 per share, for a total transaction of $96,000.00. Following the acquisition, the director directly owned 6,000 shares in the company, valued at $96,000. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 1,573,900 shares of company stock valued at $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.