Blueprint Medicines Co. (NASDAQ:BPMC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 91.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,023 shares of the biotechnology company’s stock after selling 174,338 shares during the quarter. Victory Capital Management Inc.’s holdings in Blueprint Medicines were worth $1,398,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP acquired a new position in shares of Blueprint Medicines during the third quarter worth about $32,000. R Squared Ltd purchased a new stake in Blueprint Medicines during the fourth quarter worth about $51,000. Asset Management One Co. Ltd. purchased a new stake in Blueprint Medicines during the fourth quarter worth about $88,000. Van ECK Associates Corp boosted its holdings in 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 Blueprint Medicines during the third quarter worth about $108,000.

Insider Buying and Selling

In related news, Director Jeffrey W. Albers sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $89.77, for a total transaction of $1,346,550.00. Following the completion of the transaction, the director now owns 157,557 shares of the company’s stock, valued at approximately $14,143,891.89. This represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ariel Hurley sold 3,203 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,334 shares of company stock valued at $4,450,062. Insiders own 4.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on BPMC. Wedbush reissued an “outperform” rating and set a $128.00 price objective on shares of Blueprint Medicines in a report on Friday, February 28th. Guggenheim reissued a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. Jefferies Financial Group began coverage on shares of Blueprint Medicines in a report on Monday. They set a “buy” rating and a $135.00 price objective 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. Finally, Piper Sandler upped their price target on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $125.70.

Blueprint Medicines Stock Performance

NASDAQ:BPMC opened at $89.59 on Wednesday. The firm has a 50 day simple moving average of $99.49 and a 200-day simple moving average of $93.99. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The firm has a market cap of $5.73 billion, a PE ratio of -82.95 and a beta of 0.58. Blueprint Medicines Co. has a 1-year low of $80.68 and a 1-year high of $121.90.

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

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.