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

Key Points

• BlossomHill Therapeutics shares fell to a new 52-week low, reaching $12.28 and last trading at $12.42, well below the previous close of $13.75 and the 50-day moving average of $18.90.
• The company reported a significant quarterly loss of $8.75 per share, missing the consensus estimate of a $0.84 loss by $7.91; analysts expect a full-year loss of $5.54 per share.
• Despite the stock decline, analyst sentiment remains cautiously positive, with five Buy ratings and one Hold rating and an average price target of $35.00. Insiders also purchased 1.57 million shares worth approximately $25.2 million over the past 90 days.

BlossomHill Therapeutics, Inc. (NASDAQ:BLSM - Get Free Report) 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 - Get Free Report) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.