Blueprint Medicines Co. (NASDAQ:BPMC) Shares Bought by KBC Group NV

KBC Group NV increased its stake in Blueprint Medicines Co. (NASDAQ:BPMC) by 63.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. 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. Wellington Management Group LLP increased its stake in Blueprint Medicines by 22.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock worth $366,726,000 after purchasing an additional 729,055 shares in the last quarter. State Street Corp increased its position in shares of Blueprint Medicines by 16.2% in the third quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock worth $255,827,000 after acquiring an additional 385,818 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Blueprint Medicines by 161.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock valued at $45,888,000 after acquiring an additional 306,079 shares during the period. Eventide Asset Management LLC lifted its position in shares of Blueprint Medicines by 50.5% in the 3rd quarter. Eventide Asset Management LLC now owns 348,704 shares of the biotechnology company’s stock valued at $32,255,000 after acquiring an additional 117,019 shares in the last quarter. Finally, M&G PLC acquired a new position in Blueprint Medicines in the 3rd quarter worth approximately $9,101,000.

Blueprint Medicines Stock Up 1.7 %

BPMC opened at $113.40 on Wednesday. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of -53.74 and a beta of 0.61. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. The firm’s 50-day simple moving average is $98.51 and its 200-day simple moving average is $95.02. Blueprint Medicines Co. has a twelve month low of $72.24 and a twelve month high of $121.90.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BPMC. HC Wainwright reiterated a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a report on Friday, November 15th. Stephens reaffirmed an “overweight” rating and set a $140.00 target price on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Guggenheim reissued a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price objective on shares of Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, UBS Group started coverage on shares of Blueprint Medicines in a research report on Thursday, October 24th. They issued a “neutral” rating and a $88.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Blueprint Medicines has an average rating of “Moderate Buy” and an average price target of $123.72.

Insiders Place Their Bets

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total transaction of $216,257.40. Following the completion of the sale, the chief operating officer now directly owns 71,657 shares of the company’s stock, valued at approximately $6,814,580.70. The trade was a 3.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 $16,467,430.72. This trade represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,851 shares of company stock valued at $4,984,696. 4.21% of the stock is currently owned by insiders.

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.