BIT Capital GmbH Raises Position in Blueprint Medicines Co. (NASDAQ:BPMC)

BIT Capital GmbH lifted its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 4.4% during the fourth quarter, Holdings Channel reports. The fund owned 78,921 shares of the biotechnology company’s stock after acquiring an additional 3,347 shares during the period. Blueprint Medicines comprises 0.5% of BIT Capital GmbH’s investment portfolio, making the stock its 28th largest position. BIT Capital GmbH’s holdings in Blueprint Medicines were worth $6,883,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of BPMC. Quarry LP acquired a new position in Blueprint Medicines during the 3rd quarter worth $32,000. R Squared Ltd purchased a new position in shares of Blueprint Medicines in the 4th quarter valued at about $51,000. Asset Management One Co. Ltd. acquired a new position in shares of Blueprint Medicines during the fourth quarter worth about $88,000. Van ECK Associates Corp grew its position in shares of Blueprint Medicines by 48.2% during the fourth quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $97,000 after buying an additional 363 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Blueprint Medicines during the third quarter worth approximately $108,000.

Insider Activity

In related news, CEO Kate Haviland sold 1,446 shares of Blueprint Medicines stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total value 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. This trade represents a 0.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey W. Albers sold 5,000 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $102.28, for a total transaction of $511,400.00. Following the completion of the transaction, the director now directly owns 157,557 shares in the company, valued at $16,114,929.96. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,608 shares of company stock valued at $3,319,587. Company insiders own 4.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BPMC shares. StockNews.com downgraded shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. Jefferies Financial Group began coverage on shares of Blueprint Medicines in a research report on Monday, March 17th. They set a “buy” rating and a $135.00 price objective for the company. Wedbush reissued an “outperform” rating and issued a $128.00 target price on shares of Blueprint Medicines in a report on Friday, February 28th. Scotiabank initiated coverage on Blueprint Medicines in a report on Friday, March 7th. They set a “sector outperform” rating and a $150.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, February 14th. 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $124.95.

Blueprint Medicines Trading Down 2.5 %

Shares of Blueprint Medicines stock opened at $90.72 on Thursday. The company’s fifty day moving average is $98.84 and its two-hundred day moving average is $93.95. Blueprint Medicines Co. has a 1 year low of $80.68 and a 1 year high of $121.90. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The company has a market capitalization of $5.80 billion, a P/E ratio of -84.00 and a beta of 0.58.

Blueprint Medicines (NASDAQ:BPMC) last released its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. 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.