BlossomHill Therapeutics (NASDAQ:BLSM) Shares Down 5.6% – What’s Next?

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM)’s stock price dropped 5.6% during trading on Monday . The company traded as low as $18.31 and last traded at $18.46. Approximately 36,449 shares were traded during trading, a decline of 84% from the average session volume of 227,586 shares. The stock had previously closed at $19.56.

Analyst Ratings Changes

BLSM has been the topic of a number of recent analyst reports. Leerink Partners started coverage on shares of BlossomHill Therapeutics in a report on Tuesday. They issued an “outperform” rating and a $36.00 price target on the stock. Guggenheim started coverage on shares of BlossomHill Therapeutics in a report on Tuesday. They set a “buy” rating and a $30.00 target price for the company. HC Wainwright started coverage on BlossomHill Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $35.00 target price on the stock. Wall Street Zen raised BlossomHill Therapeutics to a “hold” rating in a research report on Saturday, August 15th. Finally, JPMorgan Chase & Co. started coverage on BlossomHill Therapeutics in a report on Tuesday. They issued an “overweight” rating and a $28.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $32.20.

BlossomHill Therapeutics Trading Up 3.8%

Insider Activity

In other BlossomHill Therapeutics news, Director Bihua Chen purchased 312,500 shares of the stock in a transaction dated Monday, August 10th. The stock was bought at an average price of $16.00 per share, for a total transaction of $5,000,000.00. Following the transaction, the director directly owned 3,614,034 shares in the company, valued at $57,824,544. This represents a 9.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Vincent Paul Liptak purchased 2,500 shares of the stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $15.80 per share, with a total value of $39,500.00. Following the transaction, the general counsel owned 109,212 shares in the company, valued at $1,725,549.60. This trade represents a 2.34% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 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.