Diadema Partners LP Invests $5.60 Million in Blueprint Medicines Co. (NASDAQ:BPMC)

Diadema Partners LP purchased a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 64,193 shares of the biotechnology company's stock, valued at approximately $5,599,000. Blueprint Medicines makes up 2.4% of Diadema Partners LP's holdings, making the stock its 6th largest holding. Diadema Partners LP owned approximately 0.10% of Blueprint Medicines as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Blueprint Medicines during the 4th quarter valued at $51,000. Headlands Technologies LLC bought a new stake in Blueprint Medicines in the 4th quarter valued at about $65,000. Thematics Asset Management bought a new position in Blueprint Medicines during the fourth quarter worth about $72,000. Covestor Ltd boosted its holdings in Blueprint Medicines by 62.7% in the 4th quarter. Covestor Ltd now owns 973 shares of the biotechnology company's stock worth $85,000 after buying an additional 375 shares during the period. Finally, Asset Management One Co. Ltd. purchased a new position in Blueprint Medicines in the 4th quarter valued at approximately $88,000.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Blueprint Medicines in a research report on Monday, March 17th. They set a "buy" rating and a $135.00 price target for the company. Wolfe Research assumed coverage on shares of Blueprint Medicines in a research report on Tuesday, March 18th. They set an "outperform" rating on the stock. JMP Securities reiterated a "market outperform" rating and issued a $125.00 price objective on shares of Blueprint Medicines in a report on Friday, February 14th. Morgan Stanley started coverage on shares of Blueprint Medicines in a research report on Thursday, March 20th. They set an "equal weight" rating and a $100.00 price target for the company. Finally, StockNews.com lowered Blueprint Medicines from a "hold" rating to a "sell" rating in a research report on Monday, March 3rd. Two equities 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $124.95.

Blueprint Medicines Stock Performance

Shares of Blueprint Medicines stock traded up $1.57 during trading hours on Friday, reaching $87.66. 679,412 shares of the stock traded hands, compared to its average volume of 769,835. The company has a 50 day moving average price of $87.57 and a 200 day moving average price of $93.10. Blueprint Medicines Co. has a one year low of $73.04 and a one year high of $121.90. 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 firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of -81.17 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 the consensus estimate 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%. On average, equities research analysts expect that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

In related news, COO Christina Rossi sold 2,274 shares of the company's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the sale, the chief operating officer now owns 69,266 shares of the company's stock, valued at $6,581,655.32. This represents a 3.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ariel Hurley sold 3,203 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.62, for a total transaction of $296,661.86. Following the completion of the transaction, the insider now directly owns 18,270 shares of the company's stock, valued at approximately $1,692,167.40. The trade was a 14.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.21% of the company's stock.

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.