Geode Capital Management LLC Buys 9,914 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Geode Capital Management LLC raised its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,490,101 shares of the biotechnology company’s stock after acquiring an additional 9,914 shares during the quarter. Geode Capital Management LLC owned approximately 2.35% of Blueprint Medicines worth $129,996,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Blueprint Medicines during the third quarter valued at approximately $32,000. R Squared Ltd purchased a new position in Blueprint Medicines during the fourth quarter valued at $51,000. Asset Management One Co. Ltd. bought a new stake in shares of Blueprint Medicines during the 4th quarter valued at $88,000. Van ECK Associates Corp grew its position in shares of Blueprint Medicines by 48.2% in the 4th 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 during the period. Finally, Venturi Wealth Management LLC bought a new position in shares of Blueprint Medicines in the 4th quarter worth about $131,000.

Blueprint Medicines Stock Down 1.2 %

Shares of BPMC stock opened at $79.22 on Wednesday. The company has a current ratio of 2.85, a quick ratio of 2.80 and a debt-to-equity ratio of 1.15. Blueprint Medicines Co. has a 12 month low of $76.50 and a 12 month high of $121.90. The stock has a market cap of $5.06 billion, a P/E ratio of -73.35 and a beta of 0.75. The company has a 50 day simple moving average of $93.44 and a two-hundred day simple moving average of $93.76.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings data on Thursday, February 20th. The biotechnology company reported ($0.79) EPS 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%. On average, research analysts expect that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Insider Activity

In other news, Director Jeffrey W. Albers sold 15,161 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the sale, the director now directly owns 152,396 shares in the company, valued at $16,691,933.88. This trade represents a 9.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ariel Hurley sold 2,250 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $100.00, for a total transaction of $225,000.00. Following the completion of the transaction, the insider now directly owns 14,967 shares of the company’s stock, valued at $1,496,700. This represents a 13.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,608 shares of company stock valued at $3,319,587 in the last ninety days. Corporate insiders own 4.21% of the company’s stock.

Wall Street Analyst Weigh In

BPMC has been the topic of a number of recent research reports. StockNews.com cut shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Monday, March 3rd. Wolfe Research initiated coverage on Blueprint Medicines in a research note on Tuesday, March 18th. They issued an “outperform” rating on the stock. Piper Sandler raised their price objective on Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Wedbush reissued an “outperform” rating and issued a $128.00 target price on shares of Blueprint Medicines in a report on Friday, February 28th. Finally, HC Wainwright restated a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Blueprint Medicines has an average rating of “Moderate Buy” and a consensus price target of $124.95.

Blueprint Medicines Company 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.