BlossomHill Therapeutics, Inc.’s Quiet Period To Expire Tomorrow (NASDAQ:BLSM)

BlossomHill Therapeutics’ (NASDAQ:BLSM) quiet period is set to expire on Wednesday, September 16th. BlossomHill Therapeutics had issued 9,375,000 shares in its initial public offering on August 7th. The total size of the offering was $150,000,000 based on an initial share price of $16.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Ratings Changes

A number of equities research analysts recently commented on BLSM shares. Guggenheim assumed coverage on BlossomHill Therapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $30.00 target price for the company. Wall Street Zen upgraded shares of BlossomHill Therapeutics to a “hold” rating in a report on Saturday, August 15th. JPMorgan Chase & Co. started coverage on shares of BlossomHill Therapeutics in a research report on Tuesday, September 1st. They set an “overweight” rating and a $28.00 price target for the company. HC Wainwright initiated coverage on shares of BlossomHill Therapeutics in a research note on Tuesday, September 1st. They set a “buy” rating and a $35.00 price objective for the company. Finally, Zacks Research raised shares of BlossomHill Therapeutics to a “hold” rating in a report on Wednesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.20.

BlossomHill Therapeutics Stock Performance

BlossomHill Therapeutics stock opened at $21.74 on Tuesday. BlossomHill Therapeutics has a 52 week low of $15.25 and a 52 week high of $23.37.

Insider Buying and Selling at BlossomHill Therapeutics

In other news, Director Carl Gordon acquired 625,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were acquired at an average price of $16.00 per share, with a total value of $10,000,000.00. Following the purchase, the director directly owned 2,714,279 shares of the company’s stock, valued at $43,428,464. This trade represents a 29.91% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Bihua Chen bought 312,500 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $16.00 per share, with a total value of $5,000,000.00. Following the completion of the acquisition, the director owned 3,614,034 shares in the company, valued at approximately $57,824,544. This represents a 9.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 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.