Emerald Mutual Fund Advisers Trust Cuts Stock Position in Blueprint Medicines Corporation (NASDAQ:BPMC)

Emerald Mutual Fund Advisers Trust decreased its position in shares of Blueprint Medicines Corporation (NASDAQ:BPMC - Free Report) by 7.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 250,158 shares of the biotechnology company's stock after selling 18,820 shares during the period. Blueprint Medicines makes up approximately 1.6% of Emerald Mutual Fund Advisers Trust's investment portfolio, making the stock its 14th biggest position. Emerald Mutual Fund Advisers Trust owned 0.39% of Blueprint Medicines worth $22,141,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Xponance Inc. grew its position in shares of Blueprint Medicines by 5.0% during the first quarter. Xponance Inc. now owns 5,021 shares of the biotechnology company's stock valued at $444,000 after purchasing an additional 240 shares in the last quarter. Cerity Partners LLC grew its position in shares of Blueprint Medicines by 40.3% during the first quarter. Cerity Partners LLC now owns 4,628 shares of the biotechnology company's stock valued at $410,000 after purchasing an additional 1,330 shares in the last quarter. Brown Advisory Inc. grew its position in shares of Blueprint Medicines by 0.5% during the first quarter. Brown Advisory Inc. now owns 581,864 shares of the biotechnology company's stock valued at $51,501,000 after purchasing an additional 3,084 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Blueprint Medicines by 24.2% during the first quarter. Envestnet Asset Management Inc. now owns 39,893 shares of the biotechnology company's stock valued at $3,531,000 after purchasing an additional 7,778 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Blueprint Medicines by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 307,018 shares of the biotechnology company's stock valued at $27,174,000 after purchasing an additional 3,586 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BPMC. HC Wainwright restated a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, May 2nd. Needham & Company LLC lowered Blueprint Medicines from a "buy" rating to a "hold" rating and set a $130.00 price target for the company. in a research report on Monday, June 2nd. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $129.00 price target (down previously from $130.00) on shares of Blueprint Medicines in a research report on Monday, June 2nd. TD Cowen lowered Blueprint Medicines from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 3rd. Finally, Wall Street Zen upgraded Blueprint Medicines from a "sell" rating to a "hold" rating in a research report on Friday, May 2nd. Eighteen equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $128.25.

Insider Activity at Blueprint Medicines

In other news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $100.51, for a total transaction of $228,559.74. Following the completion of the sale, the chief operating officer owned 64,718 shares of the company's stock, valued at approximately $6,504,806.18. The trade was a 3.39% 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, Director Jeffrey W. Albers sold 5,000 shares of Blueprint Medicines 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 sale, the director directly owned 146,630 shares of the company's stock, valued at $14,830,158.20. This represents a 3.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,351 shares of company stock worth $1,384,244. Insiders own 4.21% of the company's stock.

Blueprint Medicines Stock Performance

Blueprint Medicines stock opened at $129.30 on Friday. The company has a 50 day moving average price of $117.02 and a 200-day moving average price of $101.75. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.75 and a current ratio of 2.80. Blueprint Medicines Corporation has a fifty-two week low of $73.04 and a fifty-two week high of $129.49. The company has a market capitalization of $8.35 billion, a PE ratio of -52.35 and a beta of 0.89.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.32). Blueprint Medicines had a negative net margin of 27.70% and a negative return on equity of 64.60%. 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 EPS. The business's revenue was up 55.5% on a year-over-year basis. As a group, equities analysts forecast that Blueprint Medicines Corporation 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.

Want to see what other hedge funds are holding BPMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blueprint Medicines Corporation (NASDAQ:BPMC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.