Six insiders at BlossomHill Therapeutics, Inc. (BLSM) have collectively purchased approximately $30 million worth of company stock. The transactions, which occurred on August 10, 2026, involved Cormorant Asset Management, LP and its associated funds, along with Bihua Chen.
Specifically, Cormorant Asset Management, LP, Cormorant Global Healthcare Master Fund, LP, Cormorant Private Healthcare Fund III LP, Cormorant Private Healthcare Fund V LP, and Cormorant Private Healthcare Fund VI LP each acquired 312,500 shares at $16.00 per share, totaling $5 million for each entity. Bihua Chen also purchased 312,500 shares at the same price, amounting to another $5 million investment.
This coordinated buying activity by multiple insiders is a significant development. Cluster insider buying, where several executives or major shareholders purchase shares around the same time, is often viewed as a strong bullish indicator, suggesting confidence in the company's future prospects.