Blueprint Medicines Co. (NASDAQ:BPMC) Shares Sold by Polar Capital Holdings Plc

Polar Capital Holdings Plc decreased its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 28.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 626,379 shares of the biotechnology company's stock after selling 250,626 shares during the period. Polar Capital Holdings Plc owned 0.99% of Blueprint Medicines worth $54,633,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BPMC. Franklin Resources Inc. grew its holdings in Blueprint Medicines by 0.7% during the 3rd quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company's stock valued at $3,259,000 after buying an additional 265 shares in the last quarter. Empirical Asset Management LLC purchased a new stake in Blueprint Medicines during the 4th quarter valued at approximately $2,348,000. SG Americas Securities LLC grew its holdings in Blueprint Medicines by 69.7% during the 4th quarter. SG Americas Securities LLC now owns 4,277 shares of the biotechnology company's stock valued at $373,000 after buying an additional 1,756 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Blueprint Medicines by 207.5% in the fourth quarter. Fifth Third Bancorp now owns 3,075 shares of the biotechnology company's stock valued at $268,000 after purchasing an additional 2,075 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Blueprint Medicines by 63.9% in the fourth quarter. KBC Group NV now owns 2,625 shares of the biotechnology company's stock valued at $229,000 after purchasing an additional 1,023 shares in the last quarter.

Insiders Place Their Bets

In related news, insider Ariel Hurley sold 2,752 shares of the firm'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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christina Rossi sold 2,274 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $95.02, for a total transaction of $216,075.48. Following the completion of the sale, the chief operating officer now directly owns 69,266 shares in the company, valued at $6,581,655.32. This represents a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,503 shares of company stock valued at $1,027,931 in the last ninety days. Insiders own 4.21% of the company's stock.

Blueprint Medicines Stock Performance

Blueprint Medicines stock traded up $2.20 during trading hours on Friday, reaching $101.69. 581,639 shares of the stock were exchanged, compared to its average volume of 781,598. The stock has a market cap of $6.57 billion, a P/E ratio of -94.16 and a beta of 0.83. 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 Co. has a 52-week low of $73.04 and a 52-week high of $121.90. The firm's 50 day moving average is $89.65 and its 200 day moving average is $94.35.

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 analysts' consensus estimates 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 company had revenue of $149.41 million during the quarter, compared to analysts' expectations of $158.31 million. During the same quarter in the prior year, the business earned $1.40 EPS. The business's revenue for the quarter was up 55.5% compared to the same quarter last year. Analysts predict that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Blueprint Medicines in a report on Tuesday, March 18th. They issued an "outperform" rating for the company. Morgan Stanley assumed coverage on shares of Blueprint Medicines in a report on Thursday, March 20th. They issued an "equal weight" rating and a $100.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, May 2nd. Jefferies Financial Group assumed coverage on shares of Blueprint Medicines in a research note on Monday, March 17th. They set a "buy" rating and a $135.00 price objective for the company. Finally, Needham & Company LLC dropped their price objective on shares of Blueprint Medicines from $133.00 to $130.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $126.56.

About Blueprint Medicines

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.