Wellington Management Group LLP Acquires 316,754 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Wellington Management Group LLP boosted its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,281,364 shares of the biotechnology company's stock after buying an additional 316,754 shares during the quarter. Wellington Management Group LLP owned approximately 6.70% of Blueprint Medicines worth $373,421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BPMC. Torray Investment Partners LLC grew its position in shares of Blueprint Medicines by 1.1% in the 4th quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company's stock worth $1,439,000 after acquiring an additional 186 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Blueprint Medicines by 0.7% in the third quarter. Franklin Resources Inc. now owns 36,761 shares of the biotechnology company's stock worth $3,259,000 after purchasing an additional 265 shares during the period. Hillsdale Investment Management Inc. raised its holdings in shares of Blueprint Medicines by 0.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 50,830 shares of the biotechnology company's stock worth $4,433,000 after purchasing an additional 310 shares during the period. Quarry LP bought a new position in shares of Blueprint Medicines in the 3rd quarter worth about $32,000. Finally, Van ECK Associates Corp grew its position 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 buying an additional 363 shares during the last quarter.

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Insider Activity

In other Blueprint Medicines news, insider Ariel Hurley sold 3,203 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.62, for a total value of $296,661.86. Following the completion of the sale, the insider now owns 18,270 shares in the company, valued at $1,692,167.40. This represents a 14.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey W. Albers sold 15,161 shares of Blueprint Medicines stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the sale, the director now directly owns 152,396 shares of the company's stock, valued at $16,691,933.88. This trade represents a 9.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,608 shares of company stock worth $3,319,587 in the last 90 days. Company insiders own 4.21% of the company's stock.

Blueprint Medicines Trading Down 6.2 %

NASDAQ BPMC traded down $5.43 on Friday, hitting $81.68. 1,492,586 shares of the stock were exchanged, compared to its average volume of 742,386. The company's 50-day moving average price is $95.52 and its two-hundred day moving average price is $94.03. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. Blueprint Medicines Co. has a 52-week low of $80.08 and a 52-week high of $121.90. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of -75.63 and a beta of 0.75.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings results 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%. Research analysts predict that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BPMC. Piper Sandler raised their price target on Blueprint Medicines from $109.00 to $119.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Wedbush reissued an "outperform" rating and issued a $128.00 price objective on shares of Blueprint Medicines in a report on Friday, February 28th. Jefferies Financial Group began coverage on Blueprint Medicines in a research note on Monday, March 17th. They set a "buy" rating and a $135.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and issued a $133.00 price target on shares of Blueprint Medicines in a research note on Thursday, February 13th. Finally, StockNews.com cut shares of Blueprint Medicines from a "hold" rating to a "sell" rating in a research note on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $124.95.

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.