BlossomHill Therapeutics (NASDAQ:BLSM) Shares Down 7.2% – Time to Sell?

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM) was down 7.2% during mid-day trading on Wednesday . The stock traded as low as $23.43 and last traded at $23.43. 38,369 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 223,226 shares. The stock had previously closed at $25.25.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BLSM. JPMorgan Chase & Co. initiated coverage on BlossomHill Therapeutics in a research note on Tuesday, September 1st. They issued an “overweight” rating and a $28.00 price target on the stock. Lifesci Capital assumed coverage on BlossomHill Therapeutics in a report on Tuesday, September 1st. They issued an “outperform” rating and a $32.00 price objective on the stock. Leerink Partners lifted their target price on shares of BlossomHill Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday. Wall Street Zen upgraded shares of BlossomHill Therapeutics to a “hold” rating in a research report on Saturday, August 15th. Finally, HC Wainwright began coverage on shares of BlossomHill Therapeutics in a research note on Tuesday, September 1st. They issued a “buy” rating and a $35.00 price target on the stock. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $35.00.

BlossomHill Therapeutics Stock Down 9.7%

BlossomHill Therapeutics (NASDAQ:BLSM) last released its quarterly earnings data 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). On average, equities analysts forecast that BlossomHill Therapeutics, Inc. will post -3.86 EPS for the current fiscal year.

Insider Buying and Selling at BlossomHill Therapeutics

In other news, Director John P. Schmid bought 6,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $96,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Vincent Liptak purchased 2,500 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was purchased at an average cost of $15.80 per share, with a total value of $39,500.00. Following the purchase, the general counsel owned 109,212 shares in the company, valued at approximately $1,725,549.60. This trade represents a 2.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 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.