BlossomHill Therapeutics (NASDAQ:BLSM) Stock Jumps 5.6% – Here’s Why

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM) rose 5.6% during mid-day trading on Monday. The company traded as high as $21.08 and last traded at $20.85. 81,942 shares were traded during trading, a decline of 64% from the average daily volume of 225,367 shares. The stock had previously closed at $19.75.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Lifesci Capital started coverage on BlossomHill Therapeutics in a research note on Tuesday, September 1st. They issued an “outperform” rating and a $32.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on BlossomHill Therapeutics in a research note on Tuesday, September 1st. They set an “overweight” rating and a $28.00 price target for the company. Leerink Partners upped their price objective on BlossomHill Therapeutics from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, September 21st. Wall Street Zen upgraded BlossomHill Therapeutics to a “hold” rating in a research report on Saturday, August 15th. Finally, Zacks Research raised BlossomHill Therapeutics to a “hold” rating in a report on Wednesday, September 2nd. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.00.

BlossomHill Therapeutics Price Performance

BlossomHill Therapeutics (NASDAQ:BLSM) last posted its quarterly earnings results 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, research analysts forecast that BlossomHill Therapeutics, Inc. will post -5.54 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Bihua Chen bought 312,500 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $5,000,000.00. Following the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Schmid purchased 6,000 shares of BlossomHill Therapeutics stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average price of $16.00 per share, for a total transaction of $96,000.00. Following the completion of the transaction, the director owned 6,000 shares in the company, valued at $96,000. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 1,573,900 shares of company stock worth $25,181,900 in the last 90 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.