Tema Etfs LLC Makes New Investment in Blueprint Medicines Co. (NASDAQ:BPMC)

Tema Etfs LLC bought a new position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 22,474 shares of the biotechnology company's stock, valued at approximately $1,960,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC bought a new position in shares of Blueprint Medicines during the 4th quarter valued at about $103,356,000. Norges Bank bought a new position in Blueprint Medicines during the fourth quarter valued at approximately $62,028,000. Jennison Associates LLC purchased a new position in Blueprint Medicines during the 4th quarter valued at approximately $31,417,000. Rock Springs Capital Management LP grew its holdings in Blueprint Medicines by 42.7% during the 4th quarter. Rock Springs Capital Management LP now owns 1,096,899 shares of the biotechnology company's stock valued at $95,672,000 after buying an additional 328,123 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake 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.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BPMC shares. JMP Securities reiterated a "market outperform" rating and issued a $125.00 price target on shares of Blueprint Medicines in a research report on Friday, February 14th. Scotiabank began coverage on Blueprint Medicines in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $150.00 price objective for the company. Piper Sandler boosted their target price on Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. HC Wainwright restated a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, May 2nd. Finally, Wedbush reaffirmed an "outperform" rating and set a $128.00 price objective on shares of Blueprint Medicines in a research note on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.56.

Blueprint Medicines Trading Up 0.7%

Shares of NASDAQ:BPMC traded up $0.72 during midday trading on Friday, reaching $101.06. The company's stock had a trading volume of 98,968 shares, compared to its average volume of 778,003. The business has a 50 day moving average price of $90.53 and a 200 day moving average price of $94.63. Blueprint Medicines Co. has a 1 year low of $73.04 and a 1 year high of $121.90. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of -93.32 and a beta of 0.83. 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 released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing analysts' consensus estimates of ($0.42) by ($0.32). The firm had revenue of $149.41 million for the quarter, compared to analyst estimates of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The company's quarterly revenue was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.40 earnings per share. Research analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Insiders Place Their Bets

In other Blueprint Medicines news, insider Ariel Hurley sold 2,752 shares of the business's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $103.13, for a total transaction of $283,813.76. Following the completion of the transaction, the insider now owns 16,944 shares in the company, valued at approximately $1,747,434.72. The trade was a 13.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Christina Rossi sold 2,274 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the completion of the transaction, the chief operating officer now directly owns 69,266 shares of the company's stock, 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. Insiders have sold 12,777 shares of company stock worth $1,256,490 in the last quarter. 4.21% of the stock is owned by corporate insiders.

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.