By otakuyassine3@gmail.com 
Corebridge Financial Inc. decreased its holdings in Blueprint Medicines Co. (NASDAQ:BPMC – Free Report) by 6.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,613 shares of the biotechnology company’s stock after selling 2,006 shares during the quarter. Corebridge Financial Inc.’s holdings in Blueprint Medicines were worth $2,757,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Blueprint Medicines in the third quarter worth about $32,000. R Squared Ltd acquired a new stake in Blueprint Medicines in the 4th quarter worth approximately $51,000. Asset Management One Co. Ltd. purchased a new stake in Blueprint Medicines during the 4th quarter worth approximately $88,000. Van ECK Associates Corp increased its stake in Blueprint Medicines by 48.2% during the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $97,000 after purchasing an additional 363 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Blueprint Medicines in the third quarter worth $108,000.
Blueprint Medicines Price Performance
Shares of NASDAQ BPMC opened at $88.51 on Tuesday. The firm has a fifty day moving average of $97.70 and a 200 day moving average of $94.07. Blueprint Medicines Co. has a one year low of $80.68 and a one year high of $121.90. The firm has a market cap of $5.66 billion, a PE ratio of -81.95 and a beta of 0.58. 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 released its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. As a group, research analysts predict that Blueprint Medicines Co. will post -1.28 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $133.00 price objective on shares of Blueprint Medicines in a report on Thursday, February 13th. Stephens reiterated an “overweight” rating and set a $140.00 price target on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Wolfe Research began coverage on Blueprint Medicines in a report on Tuesday, March 18th. They issued an “outperform” rating on the stock. StockNews.com lowered Blueprint Medicines from a “hold” rating to a “sell” rating in a research report on Monday, March 3rd. Finally, Scotiabank initiated coverage on shares of Blueprint Medicines in a report on Friday, March 7th. They issued a “sector outperform” rating and a $150.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Blueprint Medicines presently has an average rating of “Moderate Buy” and an average target price of $124.95.
View Our Latest Report on Blueprint Medicines
Insider Transactions at Blueprint Medicines
In other news, CEO Kate Haviland sold 1,446 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total transaction of $159,407.04. Following the transaction, the chief executive officer now directly owns 149,378 shares in the company, valued at $16,467,430.72. The trade was a 0.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ariel Hurley sold 2,250 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $100.00, for a total value of $225,000.00. Following the completion of the sale, the insider now directly owns 14,967 shares of the company’s stock, valued at approximately $1,496,700. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,608 shares of company stock valued at $3,319,587 over the last ninety days. Insiders own 4.21% of the company’s stock.
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.
Further Reading
Receive News & Ratings for Blueprint Medicines Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Blueprint Medicines and related companies with MarketBeat.com’s FREE daily email newsletter.