Cinctive Capital Management LP Raises Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Cinctive Capital Management LP grew its stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 29.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 96,048 shares of the biotechnology company's stock after acquiring an additional 21,707 shares during the quarter. Cinctive Capital Management LP owned about 0.15% of Blueprint Medicines worth $8,377,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BPMC. Massachusetts Financial Services Co. MA increased its position in Blueprint Medicines by 7.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 269,990 shares of the biotechnology company's stock worth $23,549,000 after purchasing an additional 17,754 shares during the last quarter. Trexquant Investment LP grew its stake in shares of Blueprint Medicines by 7.2% in the 4th quarter. Trexquant Investment LP now owns 127,098 shares of the biotechnology company's stock valued at $11,085,000 after buying an additional 8,553 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Blueprint Medicines during the 4th quarter worth approximately $65,000. Geode Capital Management LLC raised its position in shares of Blueprint Medicines by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,490,101 shares of the biotechnology company's stock valued at $129,996,000 after buying an additional 9,914 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Blueprint Medicines by 8.0% in the fourth quarter. Wellington Management Group LLP now owns 4,281,364 shares of the biotechnology company's stock valued at $373,421,000 after acquiring an additional 316,754 shares during the last quarter.

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Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, Director Jeffrey W. Albers sold 5,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $102.28, for a total value of $511,400.00. Following the transaction, the director now directly owns 157,557 shares in the company, valued at $16,114,929.96. This represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kate Haviland sold 1,446 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total transaction of $159,407.04. Following the sale, the chief executive officer now owns 149,378 shares of the company's stock, valued at $16,467,430.72. This represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,608 shares of company stock valued at $3,319,587. Corporate insiders own 4.21% of the company's stock.

Blueprint Medicines Stock Down 3.9 %

Shares of NASDAQ:BPMC traded down $3.21 during trading hours on Monday, reaching $78.48. The stock had a trading volume of 788,767 shares, compared to its average volume of 742,908. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of -72.97 and a beta of 0.75. The firm's 50 day moving average is $95.52 and its 200-day moving average is $94.03. Blueprint Medicines Co. has a 1 year low of $76.49 and a 1 year high of $121.90. 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 - Get Free Report) last posted 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 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BPMC shares. JMP Securities restated a "market outperform" rating and issued a $125.00 target price on shares of Blueprint Medicines in a research report on Friday, February 14th. StockNews.com cut shares of Blueprint Medicines from a "hold" rating to a "sell" rating in a research report on Monday, March 3rd. Wedbush reiterated an "outperform" rating and set a $128.00 price target on shares of Blueprint Medicines in a research report on Friday, February 28th. Stephens restated an "overweight" rating and issued a $140.00 price objective on shares of Blueprint Medicines in a report on Thursday, January 2nd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $133.00 target price on shares of Blueprint Medicines in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $124.95.

Blueprint Medicines Company 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.