BlossomHill Therapeutics, Inc.’s (NASDAQ:BLSM) Quiet Period To End on September 16th

BlossomHill Therapeutics’ (NASDAQ:BLSM) quiet period is set to expire on Wednesday, September 16th. BlossomHill Therapeutics had issued 9,375,000 shares in its public offering on August 7th. The total size of the offering was $150,000,000 based on an initial share price of $16.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BLSM shares. JPMorgan Chase & Co. began coverage on shares of BlossomHill Therapeutics in a research report on Tuesday, September 1st. They issued an “overweight” rating and a $28.00 price target on the stock. Wall Street Zen raised BlossomHill Therapeutics to a “hold” rating in a report on Saturday, August 15th. Guggenheim began coverage on shares of BlossomHill Therapeutics in a report on Tuesday, September 1st. They set a “buy” rating and a $30.00 price objective for the company. Leerink Partners started coverage on shares of BlossomHill Therapeutics in a report on Tuesday, September 1st. They set an “outperform” rating and a $36.00 price objective for the company. Finally, HC Wainwright initiated coverage on shares of BlossomHill Therapeutics in a research report on Tuesday, September 1st. They set a “buy” rating and a $35.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.20.

BlossomHill Therapeutics Trading Down 3.0%

BlossomHill Therapeutics stock opened at $20.86 on Friday. BlossomHill Therapeutics has a one year low of $15.25 and a one year high of $23.37.

Insider Activity

In related news, Director John P. Schmid acquired 6,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was bought at an average price of $16.00 per share, for a total transaction of $96,000.00. Following the acquisition, the director directly owned 6,000 shares of the company’s stock, valued at approximately $96,000. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Orbimed Advisors Llc purchased 625,000 shares of BlossomHill Therapeutics stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average cost of $16.00 per share, with a total value of $10,000,000.00. Following the completion of the transaction, 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 SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 1,573,900 shares of company stock worth $25,181,900.

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.