Balyasny Asset Management L.P. Has $8.94 Million Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Balyasny Asset Management L.P. grew its holdings in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 90.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,486 shares of the biotechnology company's stock after buying an additional 48,736 shares during the quarter. Balyasny Asset Management L.P. owned 0.16% of Blueprint Medicines worth $8,939,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Blueprint Medicines during the 4th quarter worth $51,000. Headlands Technologies LLC purchased a new position in Blueprint Medicines during the fourth quarter worth about $65,000. Thematics Asset Management purchased a new position in Blueprint Medicines during the fourth quarter worth about $72,000. Covestor Ltd raised its stake in 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 purchasing an additional 375 shares during the period. Finally, Asset Management One Co. Ltd. purchased a new position in Blueprint Medicines during the fourth quarter worth about $88,000.

Insider Transactions at Blueprint Medicines

In other news, COO Christina Rossi sold 2,274 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $101.75, for a total value of $231,379.50. Following the completion of the transaction, the chief operating officer now directly owns 66,992 shares in the company, valued at $6,816,436. This trade represents a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ariel Hurley sold 3,203 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.62, for a total transaction of $296,661.86. Following the completion of the transaction, the insider now owns 18,270 shares of the company's stock, valued at $1,692,167.40. This trade represents a 14.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,503 shares of company stock worth $1,027,931. Insiders own 4.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BPMC. Morgan Stanley began coverage on Blueprint Medicines in a research report on Thursday, March 20th. They set an "equal weight" rating and a $100.00 price objective for the company. StockNews.com upgraded shares of Blueprint Medicines from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. Piper Sandler boosted their price target on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Wedbush reissued an "outperform" rating and issued a $128.00 price target on shares of Blueprint Medicines in a research note on Thursday, May 1st. Finally, Wolfe Research assumed coverage on shares of Blueprint Medicines in a research note on Tuesday, March 18th. They issued an "outperform" rating on the stock. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $126.56.

Blueprint Medicines Stock Down 0.9%

Shares of BPMC traded down $0.91 during midday trading on Tuesday, hitting $99.40. The company had a trading volume of 595,632 shares, compared to its average volume of 781,337. The company's 50 day moving average price is $88.70 and its 200 day moving average price is $94.01. The stock has a market cap of $6.42 billion, a price-to-earnings ratio of -92.04 and a beta of 0.83. Blueprint Medicines Co. has a 52 week low of $73.04 and a 52 week high of $121.90. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $158.31 million. During the same quarter last year, the firm posted $1.40 earnings per share. Blueprint Medicines's revenue was up 55.5% compared to the same quarter last year. On average, equities research analysts predict that Blueprint Medicines Co. will post -1.28 EPS for the current year.

About Blueprint Medicines

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.