Holocene Advisors LP Sells 926,550 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Holocene Advisors LP reduced its stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 98.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,914 shares of the biotechnology company's stock after selling 926,550 shares during the period. Holocene Advisors LP's holdings in Blueprint Medicines were worth $1,565,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BPMC. Triad Wealth Partners LLC acquired a new position in Blueprint Medicines during the second quarter worth about $27,000. Covestor Ltd raised its holdings in shares of Blueprint Medicines by 206.7% in the 3rd quarter. Covestor Ltd now owns 598 shares of the biotechnology company's stock worth $55,000 after purchasing an additional 403 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Blueprint Medicines in the 3rd quarter worth approximately $108,000. CWM LLC lifted its stake in Blueprint Medicines by 114.6% during the second quarter. CWM LLC now owns 1,105 shares of the biotechnology company's stock valued at $119,000 after purchasing an additional 590 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Blueprint Medicines by 13.3% during the second quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company's stock worth $120,000 after buying an additional 131 shares in the last quarter.

Insiders Place Their Bets

In other news, COO Christina Rossi sold 2,274 shares of the business's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total value of $216,257.40. Following the completion of the sale, the chief operating officer now directly owns 71,657 shares in the company, valued at approximately $6,814,580.70. The trade was a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Fouad Namouni sold 3,633 shares of the firm's stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total transaction of $324,499.56. Following the completion of the transaction, the insider now owns 69,070 shares in the company, valued at $6,169,332.40. The trade was a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,260 shares of company stock valued at $768,057 over the last quarter. Insiders own 4.21% of the company's stock.

Blueprint Medicines Stock Up 0.9 %

Shares of NASDAQ BPMC traded up $0.89 during trading hours on Friday, hitting $95.97. The stock had a trading volume of 373,649 shares, compared to its average volume of 556,725. The company has a market capitalization of $6.10 billion, a P/E ratio of -45.48 and a beta of 0.59. The firm's 50-day moving average price is $91.62 and its two-hundred day moving average price is $97.79. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. Blueprint Medicines Co. has a 52 week low of $71.97 and a 52 week high of $121.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.89) EPS for the quarter, topping the consensus estimate of ($0.97) by $0.08. The company had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.56 million. Blueprint Medicines had a negative net margin of 29.48% and a negative return on equity of 112.30%. Blueprint Medicines's quarterly revenue was up 126.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.20) EPS. Analysts anticipate that Blueprint Medicines Co. will post -3.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on BPMC shares. JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 price target on shares of Blueprint Medicines in a report on Monday, November 18th. Wells Fargo & Company cut their target price on Blueprint Medicines from $153.00 to $151.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. HC Wainwright reiterated a "buy" rating and issued a $135.00 price target on shares of Blueprint Medicines in a research report on Friday, November 15th. Needham & Company LLC restated a "buy" rating and set a $135.00 price objective on shares of Blueprint Medicines in a report on Friday, November 15th. Finally, Wedbush reaffirmed an "outperform" rating and set a $135.00 price objective on shares of Blueprint Medicines in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $122.11.

Blueprint Medicines 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.