BlossomHill Therapeutics (NASDAQ:BLSM) Hits New 12-Month Low – Should You Sell?

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. HC Wainwright reissued a “buy” rating on shares of BlossomHill Therapeutics in a research note on Wednesday, September 30th. Lifesci Capital began coverage on shares of BlossomHill Therapeutics in a research note on Tuesday, September 1st. They set an “outperform” rating and a $32.00 target price on the stock. Leerink Partners upped their target price on shares of BlossomHill Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, September 21st. Wall Street Zen upgraded shares of BlossomHill Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Finally, Zacks Research raised shares of BlossomHill Therapeutics to a “hold” rating in a research report on Wednesday, September 2nd. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.00.

BlossomHill Therapeutics Stock Down 0.2%

The stock has a fifty day moving average price of $18.71.

BlossomHill Therapeutics (NASDAQ:BLSM) last announced its quarterly earnings data 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). On average, analysts forecast that BlossomHill Therapeutics, Inc. will post -5.54 earnings per share for the current year.

Insider Transactions at BlossomHill Therapeutics

In other news, Director Carl L. Gordon purchased 625,000 shares of the stock in a transaction on Monday, August 10th. The stock was bought at an average price of $16.00 per share, for a total transaction of $10,000,000.00. Following 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Orbimed Advisors Llc acquired 625,000 shares of the company’s stock in a transaction 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 transaction, the director owned 2,714,279 shares in the company, valued at approximately $43,428,464. The trade was a 29.91% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired 1,573,900 shares of company stock valued at $25,181,900 over the last quarter.

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.