BlossomHill Therapeutics (NASDAQ:BLSM) Shares Up 5.8% – What’s Next?

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM) shares shot up 5.8% on Wednesday . The stock traded as high as $23.60 and last traded at $23.46. Approximately 35,999 shares were traded during mid-day trading, a decline of 82% from the average session volume of 197,364 shares. The stock had previously closed at $22.17.

Analyst Ratings Changes

BLSM has been the topic of several analyst reports. Wall Street Zen upgraded BlossomHill Therapeutics to a “hold” rating in a research report on Saturday, August 15th. HC Wainwright started coverage on shares of BlossomHill Therapeutics in a research note on Tuesday, September 1st. They issued a “buy” rating and a $35.00 target price on the stock. Zacks Research upgraded BlossomHill Therapeutics to a “hold” rating in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. started coverage on shares of BlossomHill Therapeutics in a report on Tuesday, September 1st. They set an “overweight” rating and a $28.00 price objective for the company. Finally, Lifesci Capital assumed coverage on BlossomHill Therapeutics in a research note on Tuesday, September 1st. They issued an “outperform” rating and a $32.00 target price for the company. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, BlossomHill Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.20.

BlossomHill Therapeutics Trading Up 12.1%

Insider Activity

In other news, General Counsel Vincent Liptak bought 2,500 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was bought at an average cost of $15.80 per share, for a total transaction of $39,500.00. Following the completion of the acquisition, the general counsel owned 109,212 shares in the company, valued at approximately $1,725,549.60. This trade represents a 2.34% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Bihua Chen acquired 312,500 shares of the company’s stock in a transaction on Monday, August 10th. The stock was acquired at an average price of $16.00 per share, with a total value of $5,000,000.00. Following the acquisition, the director 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 disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 1,573,900 shares of company stock valued at $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.