BlossomHill Therapeutics (NASDAQ:BLSM) Trading Down 7.2% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BLSM shares. Wall Street Zen upgraded shares of BlossomHill Therapeutics to a “hold” rating in a research report on Saturday, August 15th. JPMorgan Chase & Co. began coverage on shares of BlossomHill Therapeutics in a research report on Tuesday, September 1st. They issued an “overweight” rating and a $28.00 price objective on the stock. Lifesci Capital began coverage on BlossomHill Therapeutics in a research note on Tuesday, September 1st. They set an “outperform” rating and a $32.00 target price on the stock. Guggenheim increased their price target on BlossomHill Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Monday. Finally, HC Wainwright assumed coverage on BlossomHill Therapeutics in a research note on Tuesday, September 1st. They set a “buy” rating and a $35.00 price target for the company. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

BlossomHill Therapeutics Trading Down 9.7%

BlossomHill Therapeutics (NASDAQ:BLSM) last released its quarterly earnings results on Friday, September 18th. The company reported ($8.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($7.91). As a group, equities analysts forecast that BlossomHill Therapeutics, Inc. will post -3.86 EPS for the current fiscal year.

Insider Transactions at BlossomHill Therapeutics

In other BlossomHill Therapeutics news, Director John P. Schmid purchased 6,000 shares of the stock in a transaction 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 completion of 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 SEC, which is accessible through the SEC website. Also, Director Carl L. Gordon purchased 625,000 shares of BlossomHill Therapeutics stock in a transaction that occurred on Monday, August 10th. The shares were bought 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 $43,428,464. This represents a 29.91% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 1,573,900 shares of company stock worth $25,181,900 over the last 90 days.

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.