Avidity Partners Management LP Sells 138,400 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Avidity Partners Management LP trimmed its stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 43.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,600 shares of the biotechnology company's stock after selling 138,400 shares during the quarter. Blueprint Medicines makes up 1.5% of Avidity Partners Management LP's holdings, making the stock its 28th biggest position. Avidity Partners Management LP owned approximately 0.28% of Blueprint Medicines worth $15,403,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Blueprint Medicines by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 6,774,884 shares of the biotechnology company's stock valued at $590,905,000 after purchasing an additional 91,450 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Blueprint Medicines by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,679,089 shares of the biotechnology company's stock worth $495,331,000 after acquiring an additional 291,822 shares during the period. Wellington Management Group LLP increased its holdings in Blueprint Medicines by 8.0% in the 4th quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company's stock worth $373,421,000 after acquiring an additional 316,754 shares during the last quarter. William Blair Investment Management LLC raised its stake in Blueprint Medicines by 16.1% in the 4th quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company's stock valued at $169,616,000 after acquiring an additional 269,896 shares during the period. Finally, Geode Capital Management LLC boosted its position in Blueprint Medicines by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company's stock worth $129,996,000 after purchasing an additional 9,914 shares during the period.

Insider Buying and Selling

In other news, insider Ariel Hurley sold 3,203 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total transaction of $296,661.86. Following the transaction, the insider now directly owns 18,270 shares of the company's stock, valued at $1,692,167.40. This represents a 14.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the sale, the chief operating officer now directly owns 69,266 shares in the company, valued at approximately $6,581,655.32. The trade was a 3.18 % decrease in their position. The disclosure for this sale can be found here. 4.21% of the stock is currently owned by company insiders.

Blueprint Medicines Trading Down 2.6 %

BPMC traded down $2.67 during midday trading on Tuesday, reaching $99.16. 1,543,222 shares of the company's stock traded hands, compared to its average volume of 777,095. Blueprint Medicines Co. has a 52 week low of $73.04 and a 52 week high of $121.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The firm has a fifty day moving average of $88.07 and a two-hundred day moving average of $93.53. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of -91.81 and a beta of 0.83.

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

Analyst Ratings Changes

A number of brokerages recently commented on BPMC. Needham & Company LLC dropped their price target on shares of Blueprint Medicines from $133.00 to $130.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Jefferies Financial Group initiated coverage on Blueprint Medicines in a research report on Monday, March 17th. They set a "buy" rating and a $135.00 target price on the stock. JMP Securities restated a "market outperform" rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Friday, February 14th. Wolfe Research initiated coverage on shares of Blueprint Medicines in a research note on Tuesday, March 18th. They set an "outperform" rating for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Blueprint Medicines from $126.00 to $129.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Seven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $127.22.

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.