BlossomHill Therapeutics (NASDAQ:BLSM) Stock Falls 6.6% – Time to Sell?

Shares of BlossomHill Therapeutics, Inc. (NASDAQ:BLSM) traded down 6.6% during trading on Tuesday. The company traded as low as $18.60 and last traded at $18.62. Approximately 61,939 shares changed hands during trading, a decline of 72% from the average daily volume of 222,648 shares. The stock had previously closed at $19.94.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BLSM. HC Wainwright reiterated a “buy” rating on shares of BlossomHill Therapeutics in a research note on Wednesday, September 30th. Lifesci Capital began coverage on BlossomHill Therapeutics in a report on Tuesday, September 1st. They issued an “outperform” rating and a $32.00 target price on the stock. Leerink Partners lifted their target price on BlossomHill Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, September 21st. Zacks Research upgraded BlossomHill Therapeutics to a “hold” rating in a research report on Wednesday, September 2nd. Finally, Guggenheim boosted their price target on BlossomHill Therapeutics from $30.00 to $40.00 and gave the company a “buy” rating in a report on Monday, September 21st. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, BlossomHill Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

BlossomHill Therapeutics Trading Down 8.5%

The firm has a 50-day moving average of $19.89.

BlossomHill Therapeutics (NASDAQ:BLSM) last announced its quarterly earnings data on Friday, September 18th. The company reported ($8.75) EPS for the quarter, missing the consensus estimate of ($0.84) by ($7.91). Equities analysts expect that BlossomHill Therapeutics, Inc. will post -5.54 EPS for the current fiscal year.

Insider Buying and Selling at BlossomHill Therapeutics

In other BlossomHill Therapeutics news, Director Orbimed Advisors Llc acquired 625,000 shares of the company’s stock in a transaction dated 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 purchase, the director directly owned 2,714,279 shares in the company, valued at approximately $43,428,464. The trade was a 29.91% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John P. Schmid bought 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average price of $16.00 per share, with a total value of $96,000.00. Following the transaction, the director directly owned 6,000 shares of the company’s stock, valued at $96,000. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, 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.