DnB Asset Management AS Reduces Position in Blueprint Medicines Co. (NASDAQ:BPMC)

DnB Asset Management AS trimmed its stake in Blueprint Medicines Co. (NASDAQ:BPMC) by 18.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,145 shares of the biotechnology company’s stock after selling 1,568 shares during the quarter. DnB Asset Management AS’s holdings in Blueprint Medicines were worth $623,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Blueprint Medicines

In other Blueprint Medicines news, 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 value of $159,407.04. Following the transaction, the chief executive officer now owns 149,378 shares of the company’s stock, valued at $16,467,430.72. This trade represents a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ariel Hurley sold 3,203 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.62, for a total value of $296,661.86. Following the transaction, the insider now directly owns 18,270 shares of the company’s stock, valued at $1,692,167.40. This trade represents a 14.92 % decrease in their ownership of the stock. 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 three months. Corporate insiders own 4.21% of the company’s stock.

Blueprint Medicines Price Performance

Shares of BPMC stock opened at $90.01 on Thursday. The firm has a fifty day simple moving average of $96.75 and a 200-day simple moving average of $94.02. The company has a market capitalization of $5.75 billion, a PE ratio of -83.34 and a beta of 0.75. Blueprint Medicines Co. has a twelve month low of $80.68 and a twelve month high of $121.90. 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 (NASDAQ:BPMC) last announced its 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 net margin of 13.19% and a negative return on equity of 77.49%. Equities research analysts anticipate that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $135.00 target price on shares of Blueprint Medicines in a research note on Friday, February 14th. JPMorgan Chase & Co. upped their price objective on shares of Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Piper Sandler raised their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Wolfe Research started coverage on shares of Blueprint Medicines in a research report on Tuesday, March 18th. They set an “outperform” rating for the company. Finally, Morgan Stanley started coverage on shares of Blueprint Medicines in a research note on Thursday, March 20th. They set an “equal weight” rating and a $100.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $124.95.

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.