BlossomHill Therapeutics, Inc. (NASDAQ:BLSM) Stock Short Interest Climbs 244.4%

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM) saw a large growth in short interest in September. As of September 30th, there was short interest totaling 473,807 shares, a growth of 244.4% from the September 15th total of 137,567 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 291,746 shares, the days-to-cover ratio is presently 1.6 days.

Analyst Ratings Changes

BLSM has been the topic of a number of research analyst reports. Wall Street Zen downgraded BlossomHill Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Lifesci Capital started coverage on BlossomHill Therapeutics in a research note on Tuesday, September 1st. They issued an “outperform” rating and a $32.00 price target on the stock. Zacks Research raised BlossomHill Therapeutics to a “hold” rating in a report on Wednesday, September 2nd. Leerink Partners upped their price objective on BlossomHill Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, September 21st. Finally, JPMorgan Chase & Co. initiated coverage on BlossomHill Therapeutics in a research report on Tuesday, September 1st. They set an “overweight” rating and a $28.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

BlossomHill Therapeutics Stock Down 2.2%

Shares of NASDAQ:BLSM traded down $0.38 during trading on Tuesday, hitting $16.89. 10,367 shares of the company were exchanged, compared to its average volume of 216,692. BlossomHill Therapeutics has a 1-year low of $15.25 and a 1-year high of $27.99. The firm has a market cap of $536.85 million and a P/E ratio of -1.93. The stock has a 50 day simple moving average of $19.59.

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

Insider Activity at BlossomHill Therapeutics

In other news, Director Bihua Chen acquired 312,500 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $16.00 per share, with a total value of $5,000,000.00. Following the completion of the purchase, the director directly owned 3,614,034 shares of the company’s stock, valued at $57,824,544. The trade was a 9.47% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Orbimed Advisors Llc acquired 625,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the purchase, the director directly owned 2,714,279 shares of the company’s stock, valued at $43,428,464. The trade was a 29.91% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 1,573,900 shares of company stock worth $25,181,900 in the last 90 days.

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.