Assenagon Asset Management S.A. Sells 64,612 Shares of Blueprint Medicines Co. (NASDAQ:BPMC)

Assenagon Asset Management S.A. lowered its position in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 39.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,633 shares of the biotechnology company's stock after selling 64,612 shares during the period. Assenagon Asset Management S.A. owned about 0.16% of Blueprint Medicines worth $9,309,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Triad Wealth Partners LLC acquired a new stake in shares of Blueprint Medicines during the second quarter worth $27,000. Covestor Ltd boosted its position in shares of Blueprint Medicines by 9,700.0% during the first quarter. Covestor Ltd now owns 294 shares of the biotechnology company's stock worth $28,000 after buying an additional 291 shares during the period. Headlands Technologies LLC grew its holdings in shares of Blueprint Medicines by 105.2% during the first quarter. Headlands Technologies LLC now owns 667 shares of the biotechnology company's stock worth $63,000 after buying an additional 342 shares in the last quarter. Natixis acquired a new stake in Blueprint Medicines in the 1st quarter valued at approximately $73,000. Finally, CWM LLC lifted its stake in Blueprint Medicines by 114.6% in the 2nd quarter. CWM LLC now owns 1,105 shares of the biotechnology company's stock valued at $119,000 after acquiring an additional 590 shares in the last quarter.

Insider Activity at Blueprint Medicines

In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of Blueprint Medicines stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $89.32, for a total value of $324,499.56. Following the completion of the transaction, the insider now directly owns 69,070 shares of the company's stock, valued at $6,169,332.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Blueprint Medicines news, insider Fouad Namouni sold 3,633 shares of the firm's stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $89.32, for a total value of $324,499.56. Following the transaction, the insider now directly owns 69,070 shares of the company's stock, valued at $6,169,332.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Philina Lee sold 41,913 shares of the company's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $93.19, for a total transaction of $3,905,872.47. Following the sale, the insider now directly owns 34,729 shares of the company's stock, valued at approximately $3,236,395.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.21% of the stock is currently owned by corporate insiders.

Blueprint Medicines Stock Performance

NASDAQ BPMC traded up $0.30 on Monday, reaching $82.77. The stock had a trading volume of 614,987 shares, compared to its average volume of 686,127. Blueprint Medicines Co. has a 1-year low of $53.73 and a 1-year high of $121.90. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.71 and a quick ratio of 3.65. The company has a market cap of $5.18 billion, a P/E ratio of -17.21 and a beta of 0.58. The firm has a fifty day moving average of $89.29 and a two-hundred day moving average of $98.52.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($1.29) by $0.49. Blueprint Medicines had a negative net margin of 56.64% and a negative return on equity of 157.30%. The business had revenue of $138.20 million during the quarter, compared to analysts' expectations of $104.02 million. During the same quarter in the previous year, the company earned ($2.19) EPS. The business's revenue was up 139.9% on a year-over-year basis. On average, equities research analysts anticipate that Blueprint Medicines Co. will post -3.99 EPS for the current year.

Analyst Ratings Changes

BPMC has been the topic of a number of research reports. Baird R W raised shares of Blueprint Medicines to a "strong-buy" rating in a research report on Friday, August 2nd. Morgan Stanley lifted their target price on Blueprint Medicines from $110.00 to $115.00 and gave the company an "equal weight" rating in a research report on Friday, July 12th. Oppenheimer increased their price target on Blueprint Medicines from $114.00 to $125.00 and gave the company an "outperform" rating in a research report on Monday, July 8th. Robert W. Baird boosted their price target on Blueprint Medicines from $112.00 to $127.00 and gave the stock an "outperform" rating in a research report on Friday, August 2nd. Finally, Barclays increased their price objective on Blueprint Medicines from $75.00 to $105.00 and gave the company an "equal weight" rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $118.22.

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.