BlossomHill Therapeutics (NASDAQ:BLSM) Reaches New 52-Week Low – Here’s What Happened

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM) shares hit a new 52-week low on Monday. The company traded as low as $12.28 and last traded at $12.42, with a volume of 140,761 shares changing hands. The stock had previously closed at $13.75.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating on shares of BlossomHill Therapeutics in a research note on Wednesday, September 30th. Wall Street Zen raised BlossomHill Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Zacks Research upgraded shares of BlossomHill Therapeutics to a “hold” rating in a report on Wednesday, September 2nd. Guggenheim raised their price target on shares of BlossomHill Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, September 21st. Finally, Leerink Partners lifted their price objective on shares of BlossomHill Therapeutics from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, September 21st. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, BlossomHill Therapeutics has an average rating of “Moderate Buy” and an average target price of $35.00.

BlossomHill Therapeutics Price Performance

The firm’s fifty day moving average price is $18.90.

BlossomHill Therapeutics (NASDAQ:BLSM) last posted its earnings results on Friday, September 18th. The company reported ($8.75) EPS for the quarter, missing the consensus estimate of ($0.84) by ($7.91). Research analysts anticipate that BlossomHill Therapeutics, Inc. will post -5.54 earnings per share for the current year.

Insider Buying and Selling at BlossomHill Therapeutics

In other news, Director Bihua Chen bought 312,500 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 $5,000,000.00. Following the purchase, the director directly owned 3,614,034 shares in the company, valued at approximately $57,824,544. This trade represents a 9.47% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carl L. Gordon purchased 625,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average cost of $16.00 per share, for a total transaction 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 $43,428,464. This represents a 29.91% increase in their position. 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.