Voloridge Investment Management LLC Sells 73,863 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Voloridge Investment Management LLC trimmed its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 25.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,697 shares of the biotechnology company's stock after selling 73,863 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.34% of Blueprint Medicines worth $18,639,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BPMC. Woodline Partners LP increased its position in shares of Blueprint Medicines by 19.1% in the fourth quarter. Woodline Partners LP now owns 540,192 shares of the biotechnology company's stock worth $47,116,000 after purchasing an additional 86,614 shares during the last quarter. Zimmer Partners LP increased its position in shares of Blueprint Medicines by 59.5% in the fourth quarter. Zimmer Partners LP now owns 33,650 shares of the biotechnology company's stock worth $2,935,000 after purchasing an additional 12,550 shares during the last quarter. Tema Etfs LLC bought a new position in shares of Blueprint Medicines in the fourth quarter worth approximately $1,960,000. Sherbrooke Park Advisers LLC grew its position in Blueprint Medicines by 8.4% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 3,374 shares of the biotechnology company's stock valued at $294,000 after acquiring an additional 261 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Blueprint Medicines during the fourth quarter valued at approximately $106,000.

Insider Buying and Selling at Blueprint Medicines

In other news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $95.02, for a total transaction of $216,075.48. Following the transaction, the chief operating officer now directly owns 69,266 shares of the company's stock, valued at $6,581,655.32. The trade was a 3.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ariel Hurley sold 2,752 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $103.13, for a total transaction of $283,813.76. Following the sale, the insider now directly owns 16,944 shares of the company's stock, valued at approximately $1,747,434.72. This trade represents a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,777 shares of company stock worth $1,256,490 in the last three months. 4.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BPMC has been the topic of a number of recent research reports. Scotiabank initiated coverage on shares of Blueprint Medicines in a research report on Friday, March 7th. They set a "sector outperform" rating and a $150.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of Blueprint Medicines in a report on Monday, March 17th. They issued a "buy" rating and a $135.00 target price on the stock. Wolfe Research initiated coverage on shares of Blueprint Medicines in a report on Tuesday, March 18th. They issued an "outperform" rating on the stock. HC Wainwright restated a "buy" rating and issued a $135.00 target price on shares of Blueprint Medicines in a report on Friday, May 2nd. Finally, Needham & Company LLC cut their target price on shares of Blueprint Medicines from $133.00 to $130.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $126.56.

Blueprint Medicines Stock Down 2.3%

Blueprint Medicines stock traded down $2.33 on Wednesday, hitting $97.73. 236,469 shares of the stock traded hands, compared to its average volume of 779,023. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. The firm has a market cap of $6.31 billion, a P/E ratio of -90.29 and a beta of 0.83. The business's fifty day simple moving average is $91.23 and its 200 day simple moving average is $94.62. Blueprint Medicines Co. has a 1 year low of $73.04 and a 1 year high of $121.90.

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 (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.32). The company had revenue of $149.41 million during the quarter, compared to analysts' expectations of $158.31 million. Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. Blueprint Medicines's revenue for the quarter was up 55.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 EPS. As a group, sell-side analysts forecast that Blueprint Medicines Co. 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.