Blueprint Medicines Co. (NASDAQ:BPMC) Stock Position Cut by Avidity Partners Management LP

Avidity Partners Management LP reduced its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 43.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 176,600 shares of the biotechnology company's stock after selling 138,400 shares during the quarter. Blueprint Medicines comprises approximately 1.5% of Avidity Partners Management LP's investment portfolio, making the stock its 28th largest position. Avidity Partners Management LP owned about 0.28% of Blueprint Medicines worth $15,403,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Blueprint Medicines during the fourth quarter worth $51,000. Headlands Technologies LLC acquired a new position in Blueprint Medicines during the 4th quarter worth $65,000. Thematics Asset Management purchased a new position in shares of Blueprint Medicines in the 4th quarter valued at about $72,000. Covestor Ltd grew its position in shares of Blueprint Medicines by 62.7% during the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock worth $85,000 after buying an additional 375 shares in the last quarter. Finally, Asset Management One Co. Ltd. acquired a new stake in Blueprint Medicines in the fourth quarter valued at approximately $88,000.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. StockNews.com upgraded Blueprint Medicines from a "sell" rating to a "hold" rating in a research report on Friday, May 2nd. Scotiabank started coverage on shares of Blueprint Medicines in a research note on Friday, March 7th. They set a "sector outperform" rating and a $150.00 price target for the company. Jefferies Financial Group initiated coverage on Blueprint Medicines in a research note on Monday, March 17th. They issued a "buy" rating and a $135.00 target price on the stock. Finally, JMP Securities restated a "market outperform" rating and set a $125.00 price target on shares of Blueprint Medicines in a research note on Friday, February 14th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $126.56.

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the sale, the chief operating officer now owns 69,266 shares in the company, valued at $6,581,655.32. The trade was a 3.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ariel Hurley sold 2,752 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $103.13, for a total transaction of $283,813.76. Following the completion of the transaction, the insider now owns 16,944 shares in the company, valued at approximately $1,747,434.72. The trade was a 13.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,503 shares of company stock worth $1,027,931 in the last 90 days. 4.21% of the stock is owned by corporate insiders.

Blueprint Medicines Stock Down 1.0 %

Blueprint Medicines stock traded down $1.02 during trading on Friday, reaching $97.74. 418,716 shares of the company's stock were exchanged, compared to its average volume of 778,346. The company's 50-day moving average is $88.32 and its two-hundred day moving average is $93.67. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. Blueprint Medicines Co. has a 52-week low of $73.04 and a 52-week high of $121.90. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of -90.50 and a beta of 0.83.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.32). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The firm had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. During the same period last year, the business earned $1.40 EPS. The firm's revenue was up 55.5% compared to the same quarter last year. On average, analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Blueprint Medicines Profile

Blueprint Medicines Corporation, a precision therapy company, develops medicines for genomically defined cancers and blood disorders in the United States and internationally. The company is developing AYVAKIT for the treatment of systemic mastocytosis (SM) and gastrointestinal stromal tumors; BLU-263, an orally available, potent, and KIT inhibitor for the treatment of indolent SM, and other mast cell disorders.