KBC Group NV Buys 1,023 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

KBC Group NV grew its stake in Blueprint Medicines Co. (NASDAQ:BPMC) by 63.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,625 shares of the biotechnology company’s stock after acquiring an additional 1,023 shares during the quarter. KBC Group NV’s holdings in Blueprint Medicines were worth $229,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Quarry LP acquired a new stake in Blueprint Medicines during the 3rd quarter worth $32,000. Covestor Ltd increased its holdings in shares of Blueprint Medicines by 206.7% in the third quarter. Covestor Ltd now owns 598 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 403 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Blueprint Medicines during the third quarter worth about $108,000. Values First Advisors Inc. bought a new position in shares of Blueprint Medicines during the 3rd quarter valued at about $122,000. Finally, CWM LLC lifted its holdings in shares of Blueprint Medicines by 69.2% during the 3rd quarter. CWM LLC now owns 1,870 shares of the biotechnology company’s stock valued at $173,000 after purchasing an additional 765 shares in the last quarter.

Blueprint Medicines Stock Performance

NASDAQ:BPMC opened at $113.40 on Wednesday. The stock has a 50 day simple moving average of $98.51 and a 200 day simple moving average of $95.02. The stock has a market cap of $7.20 billion, a P/E ratio of -53.74 and a beta of 0.61. Blueprint Medicines Co. has a 1-year low of $72.24 and a 1-year high of $121.90. The company has a current ratio of 3.32, a quick ratio of 3.27 and a debt-to-equity ratio of 1.09.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BPMC shares. JPMorgan Chase & Co. increased their price objective on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $135.00 target price on shares of Blueprint Medicines in a report on Monday, January 13th. Guggenheim restated a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. JMP Securities reiterated a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a report on Wednesday, January 15th. Finally, Wedbush reissued an “outperform” rating and issued a $124.00 target price (down previously from $135.00) on shares of Blueprint Medicines in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.72.

Insider Buying and Selling

In related news, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $110.14, for a total transaction of $250,458.36. Following the completion of the sale, the chief operating officer now owns 67,109 shares of the company’s stock, valued at $7,391,385.26. This represents a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Kate Haviland sold 1,446 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total transaction of $159,407.04. Following the completion of the transaction, the chief executive officer now directly owns 149,378 shares in the company, valued at approximately $16,467,430.72. This represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,851 shares of company stock valued at $4,984,696. 4.21% of the stock is owned by company insiders.

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.