Alpha DNA Investment Management LLC Makes New Investment in Blueprint Medicines Co. (NASDAQ:BPMC)

Alpha DNA Investment Management LLC bought a new stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,098 shares of the biotechnology company's stock, valued at approximately $445,000.

A number of other hedge funds have also made changes to their positions in BPMC. R Squared Ltd acquired a new stake in shares of Blueprint Medicines during the 4th quarter valued at about $51,000. Headlands Technologies LLC acquired a new stake in Blueprint Medicines in the fourth quarter valued at approximately $65,000. Covestor Ltd grew its position in Blueprint Medicines by 62.7% in the fourth quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock worth $85,000 after acquiring an additional 375 shares in the last quarter. Asset Management One Co. Ltd. acquired a new position in shares of Blueprint Medicines during the 4th quarter worth $88,000. Finally, Van ECK Associates Corp raised its holdings in shares of Blueprint Medicines by 48.2% during the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock valued at $97,000 after purchasing an additional 363 shares in the last quarter.

Insider Activity

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction on Monday, March 24th. The stock was sold at an average price of $95.02, for a total value of $216,075.48. Following the completion of the transaction, the chief operating officer now owns 69,266 shares in the company, valued at approximately $6,581,655.32. The trade was a 3.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ariel Hurley sold 3,203 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.62, for a total value of $296,661.86. Following the completion of the transaction, the insider now directly owns 18,270 shares in the company, valued at approximately $1,692,167.40. This represents a 14.92 % decrease in their position. The disclosure for this sale can be found here. 4.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BPMC shares. StockNews.com lowered Blueprint Medicines from a "hold" rating to a "sell" rating in a report on Monday, March 3rd. Wedbush reissued an "outperform" rating and issued a $128.00 price objective on shares of Blueprint Medicines in a research note on Wednesday, April 16th. JPMorgan Chase & Co. upped their target price on Blueprint Medicines from $126.00 to $129.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Stephens reissued an "overweight" rating and issued a $140.00 price target on shares of Blueprint Medicines in a research report on Thursday, January 2nd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $124.95.

Blueprint Medicines Price Performance

NASDAQ:BPMC traded up $2.40 during trading hours on Wednesday, reaching $85.81. The company had a trading volume of 698,989 shares, compared to its average volume of 769,517. The company has a quick ratio of 2.80, a current ratio of 2.85 and a debt-to-equity ratio of 1.15. The stock has a 50-day moving average of $87.99 and a two-hundred day moving average of $93.17. Blueprint Medicines Co. has a one year low of $73.04 and a one year high of $121.90. The firm has a market capitalization of $5.48 billion, a PE ratio of -79.45 and a beta of 0.75.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative return on equity of 77.49% and a negative net margin of 13.19%. Analysts forecast that Blueprint Medicines Co. will post -1.28 earnings per share for the current year.

About Blueprint Medicines

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.