Blueprint Medicines Co. (NASDAQ:BPMC) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 11,972.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,854 shares of the biotechnology company's stock after purchasing an additional 28,615 shares during the period. GAMMA Investing LLC's holdings in Blueprint Medicines were worth $2,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stephens Inc. AR purchased a new position in Blueprint Medicines in the 4th quarter valued at about $321,000. Values First Advisors Inc. lifted its stake in Blueprint Medicines by 277.9% in the 4th quarter. Values First Advisors Inc. now owns 4,970 shares of the biotechnology company's stock valued at $433,000 after buying an additional 3,655 shares in the last quarter. Van ECK Associates Corp lifted its stake in Blueprint Medicines by 48.2% in the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock valued at $97,000 after buying an additional 363 shares in the last quarter. Asset Management One Co. Ltd. purchased a new position in Blueprint Medicines in the 4th quarter valued at about $88,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in Blueprint Medicines by 12.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 25,626 shares of the biotechnology company's stock valued at $2,235,000 after buying an additional 2,780 shares in the last quarter.

Blueprint Medicines Price Performance

BPMC stock traded up $0.29 during trading on Monday, reaching $128.25. 5,148,158 shares of the company were exchanged, compared to its average volume of 1,218,495. The company has a market cap of $8.28 billion, a P/E ratio of -118.75 and a beta of 0.84. Blueprint Medicines Co. has a 52-week low of $73.04 and a 52-week high of $128.38. The stock's 50 day moving average price is $101.00 and its 200 day moving average price is $97.27. 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 (NASDAQ:BPMC - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $149.41 million during the quarter, compared to analysts' expectations of $158.31 million. During the same period last year, the company earned $1.40 EPS. The firm's revenue for the quarter was up 55.5% on a year-over-year basis. As a group, analysts predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BPMC has been the subject of a number of recent research reports. Morgan Stanley increased their price objective on shares of Blueprint Medicines from $102.00 to $129.00 and gave the company an "equal weight" rating in a report on Thursday, June 5th. JMP Securities reissued a "market perform" rating on shares of Blueprint Medicines in a research report on Tuesday, June 3rd. Jefferies Financial Group started coverage on shares of Blueprint Medicines in a research report on Monday, March 17th. They issued a "buy" rating and a $135.00 price target for the company. JPMorgan Chase & Co. reissued 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. Finally, Wedbush cut shares of Blueprint Medicines from an "outperform" rating to a "neutral" rating and raised their price target for the company from $128.00 to $129.00 in a research report on Monday, June 2nd. Seventeen equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Blueprint Medicines presently has a consensus rating of "Hold" and a consensus target price of $129.35.

Insider Buying and Selling at Blueprint Medicines

In other news, insider Ariel Hurley sold 2,752 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $103.13, for a total value of $283,813.76. Following the completion of the transaction, the insider now owns 16,944 shares of the company's stock, valued at $1,747,434.72. The trade was a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Christina Rossi sold 2,274 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $101.75, for a total transaction of $231,379.50. Following the completion of the transaction, the chief operating officer now directly owns 66,992 shares of the company's stock, valued at approximately $6,816,436. This represents a 3.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,574 shares of company stock valued at $1,465,528 over the last quarter. Corporate insiders own 4.21% of the company's stock.

Blueprint Medicines Company 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.