BlossomHill Therapeutics (NASDAQ:BLSM) Stock Falls 7% – Should You Sell?

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM)’s stock price fell 7% during mid-day trading on Tuesday. The company traded as low as $16.06 and last traded at $16.06. Approximately 27,886 shares traded hands during trading, a decline of 87% from the average session volume of 216,997 shares. The stock had previously closed at $17.27.

Analyst Ratings Changes

Several research firms recently commented on BLSM. 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. Zacks Research upgraded shares of BlossomHill Therapeutics to a “hold” rating in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. assumed coverage on shares of BlossomHill Therapeutics in a research note on Tuesday, September 1st. They set an “overweight” rating and a $28.00 target price on the stock. Lifesci Capital started coverage on shares of BlossomHill Therapeutics in a report on Tuesday, September 1st. They set an “outperform” rating and a $32.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating on shares of BlossomHill Therapeutics in a research note on Wednesday, September 30th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $35.00.

BlossomHill Therapeutics Trading Down 6.2%

The company has a market capitalization of $514.92 million and a price-to-earnings ratio of -1.85. The business has a 50-day moving average of $19.59.

BlossomHill Therapeutics (NASDAQ:BLSM) last announced its earnings results on Friday, September 18th. The company reported ($8.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($7.91). Sell-side analysts expect that BlossomHill Therapeutics, Inc. will post -5.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Carl Gordon acquired 625,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average price of $16.00 per share, with a total value of $10,000,000.00. Following the completion of the acquisition, the director directly owned 2,714,279 shares of the company’s stock, valued at approximately $43,428,464. The trade was a 29.91% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John P. Schmid acquired 6,000 shares of BlossomHill Therapeutics stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average price of $16.00 per share, with a total value of $96,000.00. Following the transaction, the director owned 6,000 shares of the company’s stock, valued at $96,000. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 1,573,900 shares of company stock valued at $25,181,900 over the last ninety 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.