Edgestream Partners L.P. Sells 35,728 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Edgestream Partners L.P. lowered its stake in shares of Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 63.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 20,395 shares of the biotechnology company's stock after selling 35,728 shares during the period. Edgestream Partners L.P.'s holdings in Blueprint Medicines were worth $1,779,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Empirical Asset Management LLC bought a new stake in Blueprint Medicines during the fourth quarter worth $2,348,000. Stephens Inc. AR purchased a new position in shares of Blueprint Medicines in the 4th quarter worth approximately $321,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Blueprint Medicines by 48.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 252,236 shares of the biotechnology company's stock worth $23,332,000 after buying an additional 82,693 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Blueprint Medicines in the third quarter valued at approximately $999,000. Finally, Bank of New York Mellon Corp increased its position in shares of Blueprint Medicines by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 303,432 shares of the biotechnology company's stock valued at $26,465,000 after acquiring an additional 7,101 shares during the last quarter.

Blueprint Medicines Price Performance

Blueprint Medicines stock traded down $0.26 during midday trading on Friday, reaching $89.58. 669,910 shares of the stock were exchanged, compared to its average volume of 1,013,739. Blueprint Medicines Co. has a 52 week low of $80.68 and a 52 week 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. The firm has a market cap of $5.72 billion, a PE ratio of -82.94 and a beta of 0.58. The company's fifty day moving average is $99.46 and its 200-day moving average is $94.09.

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Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last released 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, sell-side analysts forecast that Blueprint Medicines Co. will post -1.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Piper Sandler upped their price objective on Blueprint Medicines from $109.00 to $119.00 and gave the company a "neutral" rating in a research note on Monday, January 27th. HC Wainwright reissued a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a report on Friday, February 14th. Guggenheim restated a "buy" rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. Stephens reiterated an "overweight" rating and issued a $140.00 target price on shares of Blueprint Medicines in a research note on Thursday, January 2nd. Finally, Needham & Company LLC restated a "buy" rating and set a $133.00 price target on shares of Blueprint Medicines in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Blueprint Medicines has an average rating of "Moderate Buy" and a consensus target price of $125.21.

Insiders Place Their Bets

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of Blueprint Medicines stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $95.91, for a total value of $218,099.34. Following the transaction, the chief operating officer now directly owns 69,383 shares of the company's stock, valued at $6,654,523.53. The trade was a 3.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ariel Hurley sold 2,250 shares of the company's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $100.00, for a total transaction of $225,000.00. Following the sale, the insider now owns 14,967 shares of the company's stock, valued at $1,496,700. This represents a 13.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,608 shares of company stock valued at $4,668,161 over the last 90 days. 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.