Voloridge Investment Management LLC Sells 73,863 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Voloridge Investment Management LLC cut its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 25.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 213,697 shares of the biotechnology company’s stock after selling 73,863 shares during the quarter. Voloridge Investment Management LLC’s holdings in Blueprint Medicines were worth $18,639,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Torray Investment Partners LLC increased its position in shares of Blueprint Medicines by 1.1% during the 4th quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company’s stock valued at $1,439,000 after purchasing an additional 186 shares during the last quarter. Sherbrooke Park Advisers LLC grew its position in Blueprint Medicines by 8.4% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 3,374 shares of the biotechnology company’s stock worth $294,000 after acquiring an additional 261 shares during the last quarter. Summit Investment Advisors Inc. grew its position in Blueprint Medicines by 4.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,652 shares of the biotechnology company’s stock worth $580,000 after acquiring an additional 283 shares during the last quarter. Pitcairn Co. grew its position in Blueprint Medicines by 2.8% during the 4th quarter. Pitcairn Co. now owns 10,608 shares of the biotechnology company’s stock worth $925,000 after acquiring an additional 293 shares during the last quarter. Finally, Hillsdale Investment Management Inc. grew its position in Blueprint Medicines by 0.6% during the 4th quarter. Hillsdale Investment Management Inc. now owns 50,830 shares of the biotechnology company’s stock worth $4,433,000 after acquiring an additional 310 shares during the last quarter.

Blueprint Medicines Price Performance

Shares of BPMC stock opened at $100.34 on Friday. The firm has a market cap of $6.48 billion, a P/E ratio of -92.91 and a beta of 0.83. Blueprint Medicines Co. has a fifty-two week low of $73.04 and a fifty-two week high of $121.90. The business’s 50 day moving average price is $90.53 and its 200-day moving average price is $94.63. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.32). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. The business had revenue of $149.41 million during the quarter, compared to the consensus estimate of $158.31 million. During the same quarter in the prior year, the business posted $1.40 earnings per share. Blueprint Medicines’s quarterly revenue was up 55.5% compared to the same quarter last year. On average, equities research analysts anticipate that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

Insider Activity at Blueprint Medicines

In related news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $95.02, for a total transaction of $216,075.48. Following the sale, the chief operating officer now directly owns 69,266 shares in the company, valued at $6,581,655.32. The trade was a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ariel Hurley sold 2,752 shares of Blueprint Medicines stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $103.13, for a total value of $283,813.76. Following the sale, the insider now owns 16,944 shares in the company, valued at $1,747,434.72. This represents a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,777 shares of company stock worth $1,256,490 over the last ninety days. 4.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BPMC has been the topic of several recent research reports. Needham & Company LLC reduced their price target on Blueprint Medicines from $133.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. JMP Securities restated a “market outperform” rating and set a $125.00 price target on shares of Blueprint Medicines in a research report on Friday, February 14th. Piper Sandler raised their price target on Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. raised their price target on Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, HC Wainwright restated a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $126.56.

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.