Geode Capital Management LLC Purchases 30,499 Shares of Blueprint Medicines Corp (NASDAQ:BPMC)

Geode Capital Management LLC boosted its stake in shares of Blueprint Medicines Corp (NASDAQ:BPMC) by 6.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 492,662 shares of the biotechnology company’s stock after buying an additional 30,499 shares during the period. Geode Capital Management LLC owned about 1.12% of Blueprint Medicines worth $26,559,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BPMC. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in Blueprint Medicines by 24.2% during the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,000 shares of the biotechnology company’s stock worth $107,000 after purchasing an additional 390 shares during the period. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Blueprint Medicines in the fourth quarter valued at approximately $140,000. PNC Financial Services Group Inc. boosted its position in shares of Blueprint Medicines by 16.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,255 shares of the biotechnology company’s stock valued at $229,000 after acquiring an additional 594 shares during the period. Amalgamated Bank bought a new stake in shares of Blueprint Medicines in the fourth quarter valued at approximately $327,000. Finally, SG Americas Securities LLC boosted its position in shares of Blueprint Medicines by 485.3% in the fourth quarter. SG Americas Securities LLC now owns 9,962 shares of the biotechnology company’s stock valued at $537,000 after acquiring an additional 8,260 shares during the period. Hedge funds and other institutional investors own 97.46% of the company’s stock.

BPMC has been the subject of several research reports. Cowen reissued a “buy” rating on shares of Blueprint Medicines in a research report on Thursday, March 28th. BidaskClub lowered Blueprint Medicines from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. Zacks Investment Research upgraded Blueprint Medicines from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Tuesday, April 30th. Goldman Sachs Group restated a “buy” rating and issued a $125.00 target price on shares of Blueprint Medicines in a research note on Thursday, May 23rd. Finally, Morgan Stanley started coverage on Blueprint Medicines in a research note on Wednesday, April 3rd. They set an “overweight” rating and a $112.00 price objective for the company. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Blueprint Medicines currently has an average rating of “Buy” and a consensus target price of $105.83.

Shares of NASDAQ:BPMC traded up $1.62 during midday trading on Friday, reaching $94.33. The company’s stock had a trading volume of 1,110,658 shares, compared to its average volume of 640,879. Blueprint Medicines Corp has a fifty-two week low of $44.58 and a fifty-two week high of $100.76. The company has a market capitalization of $4.61 billion, a P/E ratio of -17.50 and a beta of 1.45. The company has a quick ratio of 6.59, a current ratio of 6.59 and a debt-to-equity ratio of 0.27. The stock’s fifty day simple moving average is $85.54.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, May 9th. The biotechnology company reported ($1.98) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.83) by ($0.15). The business had revenue of $0.73 million during the quarter, compared to analyst estimates of $1.38 million. Blueprint Medicines had a negative net margin of 603.88% and a negative return on equity of 59.26%. The business’s quarterly revenue was down 23.2% compared to the same quarter last year. During the same quarter last year, the business posted ($1.29) earnings per share. Equities analysts predict that Blueprint Medicines Corp will post -7.76 earnings per share for the current year.

In other Blueprint Medicines news, CEO Jeffrey W. Albers sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $84.75, for a total transaction of $1,695,000.00. Following the transaction, the chief executive officer now owns 48,961 shares in the company, valued at $4,149,444.75. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Charles A. Rowland, Jr. sold 11,818 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $95.15, for a total value of $1,124,482.70. Following the sale, the director now directly owns 11,818 shares in the company, valued at approximately $1,124,482.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,044 shares of company stock worth $7,077,431. 3.15% of the stock is owned by company insiders.

About Blueprint Medicines

Blueprint Medicines Corporation develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

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Institutional Ownership by Quarter for Blueprint Medicines (NASDAQ:BPMC)

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