PDT Partners LLC Buys Shares of 3,098 Blueprint Medicines Co. (NASDAQ:BPMC)

PDT Partners LLC bought a new stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,098 shares of the biotechnology company's stock, valued at approximately $270,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Torray Investment Partners LLC grew its stake in shares of Blueprint Medicines by 1.1% in the 4th quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company's stock valued at $1,439,000 after buying an additional 186 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Blueprint Medicines by 0.7% in the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company's stock worth $3,259,000 after purchasing an additional 265 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Blueprint Medicines by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,652 shares of the biotechnology company's stock valued at $580,000 after buying an additional 283 shares in the last quarter. Pitcairn Co. lifted its position in shares of Blueprint Medicines by 2.8% in the fourth quarter. Pitcairn Co. now owns 10,608 shares of the biotechnology company's stock worth $925,000 after buying an additional 293 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in shares of Blueprint Medicines by 0.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 50,830 shares of the biotechnology company's stock worth $4,433,000 after acquiring an additional 310 shares in the last quarter.

Blueprint Medicines Price Performance

BPMC stock traded up $0.68 during trading on Wednesday, hitting $99.84. 686,391 shares of the stock traded hands, compared to its average volume of 777,608. 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 stock has a market cap of $6.38 billion, a price-to-earnings ratio of -92.44 and a beta of 0.83. Blueprint Medicines Co. has a one year low of $73.04 and a one year high of $121.90. The company has a 50 day simple moving average of $88.07 and a 200 day simple moving average of $93.53.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.32). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The business had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. During the same period in the previous year, the firm earned $1.40 earnings per share. The firm's revenue was up 55.5% compared to the same quarter last year. Equities analysts expect that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Insider Activity at Blueprint Medicines

In other news, insider Ariel Hurley sold 3,203 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total transaction of $296,661.86. Following the completion of the sale, the insider now owns 18,270 shares in the company, valued at $1,692,167.40. The trade was a 14.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $216,075.48. Following the completion of the sale, the chief operating officer now 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 ownership of the stock. The disclosure for this sale can be found here. 4.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JMP Securities reaffirmed a "market outperform" rating and set a $125.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. StockNews.com raised Blueprint Medicines from a "sell" rating to a "hold" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. raised their price objective on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Piper Sandler upped their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. Finally, Scotiabank assumed coverage on shares of Blueprint Medicines in a report on Friday, March 7th. They set a "sector outperform" rating and a $150.00 price objective on the stock. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $126.56.

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.