Bank of New York Mellon Corp Increases Stock Position in Blueprint Medicines Corporation (NASDAQ:BPMC)

Bank of New York Mellon Corp grew its holdings in shares of Blueprint Medicines Corporation (NASDAQ:BPMC - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 307,018 shares of the biotechnology company's stock after purchasing an additional 3,586 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.48% of Blueprint Medicines worth $27,174,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new stake in Blueprint Medicines during the fourth quarter worth about $65,000. Thematics Asset Management acquired a new stake in shares of Blueprint Medicines during the fourth quarter worth $72,000. Covestor Ltd lifted its holdings in Blueprint Medicines by 62.7% in the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock valued at $85,000 after acquiring an additional 375 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Blueprint Medicines in the fourth quarter valued at $106,000. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Blueprint Medicines in the fourth quarter valued at $116,000.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BPMC. Cowen lowered Blueprint Medicines to a "hold" rating in a research note on Monday, June 2nd. HC Wainwright reiterated a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Friday, May 2nd. TD Cowen cut Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 3rd. Citizens Jmp downgraded Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 3rd. Finally, Wall Street Zen raised Blueprint Medicines to a "hold" rating in a research note on Friday. Eighteen investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $128.25.

Insider Activity at Blueprint Medicines

In related news, Director Jeffrey W. Albers sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $101.14, for a total transaction of $505,700.00. Following the completion of the sale, the director owned 146,630 shares of the company's stock, valued at $14,830,158.20. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Percy H. Carter sold 1,051 shares of Blueprint Medicines stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $128.25, for a total transaction of $134,790.75. Following the transaction, the insider owned 53,155 shares in the company, valued at $6,817,128.75. This represents a 1.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,351 shares of company stock valued at $1,384,244 in the last three months. Corporate insiders own 4.21% of the company's stock.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC remained flat at $129.46 during mid-day trading on Friday. Blueprint Medicines Corporation has a one year low of $73.04 and a one year high of $129.65. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of -52.41 and a beta of 0.89. The company has a current ratio of 2.80, a quick ratio of 2.75 and a debt-to-equity ratio of 1.01. The stock has a 50 day moving average of $120.01 and a 200 day moving average of $103.25.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings data 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 64.60% and a negative net margin of 27.70%. The company had revenue of $149.41 million for the quarter, compared to the consensus estimate of $158.31 million. During the same period in the prior year, the firm posted $1.40 earnings per share. The business's revenue was up 55.5% on a year-over-year basis. As a group, sell-side analysts expect that Blueprint Medicines Corporation will post -1.28 earnings per share 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.