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

by · The Cerbat Gem

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM – Get Free Report)’s share price fell 4.9% on Wednesday. The company traded as low as $20.33 and last traded at $20.33. Approximately 22,349 shares changed hands during trading, a decline of 90% from the average session volume of 221,659 shares. The stock had previously closed at $21.37.

Analysts Set New Price Targets

Several research analysts have commented on BLSM shares. Leerink Partners raised their price target on shares of BlossomHill Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, September 21st. JPMorgan Chase & Co. initiated coverage on shares of BlossomHill Therapeutics in a report on Tuesday, September 1st. They issued an “overweight” rating and a $28.00 price target on the stock. Zacks Research upgraded BlossomHill Therapeutics to a “hold” rating in a research report on Wednesday, September 2nd. HC Wainwright restated a “buy” rating on shares of BlossomHill Therapeutics in a research report on Wednesday. Finally, Lifesci Capital assumed coverage on BlossomHill Therapeutics in a research note on Tuesday, September 1st. They issued an “outperform” rating and a $32.00 target price on the stock. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Check Out Our Latest Research Report on BLSM

BlossomHill Therapeutics Stock Performance

BlossomHill Therapeutics (NASDAQ:BLSM – Get Free Report) last posted its quarterly earnings data on Friday, September 18th. The company reported ($8.75) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($7.91). On average, analysts expect that BlossomHill Therapeutics, Inc. will post -5.54 earnings per share for the current year.

Insider Buying and Selling at BlossomHill Therapeutics

In related news, Director John P. Schmid bought 6,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average cost of $16.00 per share, with a total value of $96,000.00. Following the acquisition, the director owned 6,000 shares in the company, valued at $96,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carl L. Gordon purchased 625,000 shares of the company’s stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $16.00 per share, with a total value of $10,000,000.00. Following the completion of the transaction, the director owned 2,714,279 shares of the company’s stock, valued at approximately $43,428,464. This trade represents a 29.91% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 1,573,900 shares of company stock worth $25,181,900.

BlossomHill Therapeutics Company Profile

(Get Free Report)

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.

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