BlossomHill Therapeutics (NASDAQ:BLSM) Stock Price Down 7% – Time to Sell?

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM) traded down 7% during trading on Tuesday. The company traded as low as $16.06 and last traded at $16.06. Approximately 27,886 shares were traded during trading, a decline of 87% from the average daily volume of 216,997 shares. The stock had previously closed at $17.27.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Guggenheim lifted their price objective on BlossomHill Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, September 21st. Lifesci Capital assumed coverage on shares of BlossomHill Therapeutics in a research note on Tuesday, September 1st. They set an “outperform” rating and a $32.00 price target on the stock. Wall Street Zen cut shares of BlossomHill Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. Leerink Partners raised their price objective 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. Finally, Zacks Research upgraded shares of BlossomHill Therapeutics to a “hold” rating in a research note on Wednesday, September 2nd. Five investment 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

BlossomHill Therapeutics Stock Performance

The business has a 50 day moving average price of $19.42. The stock has a market capitalization of $470.03 million and a PE ratio of -1.69.

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). Research analysts predict that BlossomHill Therapeutics, Inc. will post -5.54 earnings per share for the current year.

Insider Activity

In other BlossomHill Therapeutics news, Director Orbimed Advisors Llc acquired 625,000 shares of the stock in a transaction dated Monday, August 10th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $10,000,000.00. Following the acquisition, 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. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bihua Chen acquired 312,500 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $16.00 per share, with a total value of $5,000,000.00. Following the purchase, the director directly owned 3,614,034 shares in the company, valued at $57,824,544. This represents a 9.47% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 1,573,900 shares of company stock valued at $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.