Blueprint Medicines Co. (NASDAQ:BPMC) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its stake in Blueprint Medicines Co. (NASDAQ:BPMC - Free Report) by 27.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,300 shares of the biotechnology company's stock after selling 48,200 shares during the quarter. Renaissance Technologies LLC owned about 0.20% of Blueprint Medicines worth $11,016,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in Blueprint Medicines in the 4th quarter valued at about $62,028,000. Jennison Associates LLC acquired a new position in shares of Blueprint Medicines in the fourth quarter valued at approximately $31,417,000. Wellington Management Group LLP raised its position in shares of 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 buying an additional 316,754 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of Blueprint Medicines by 16.1% during the fourth quarter. William Blair Investment Management LLC now owns 1,944,695 shares of the biotechnology company's stock valued at $169,616,000 after buying an additional 269,896 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Blueprint Medicines during the fourth quarter worth approximately $21,104,000.

Blueprint Medicines Stock Down 0.9 %

Blueprint Medicines stock traded down $0.77 during midday trading on Tuesday, hitting $83.41. 919,766 shares of the stock were exchanged, compared to its average volume of 769,800. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. The company has a 50 day moving average price of $87.99 and a two-hundred day moving average price of $93.17. The firm has a market cap of $5.33 billion, a P/E ratio of -77.23 and a beta of 0.75. Blueprint Medicines Co. has a 1 year low of $73.04 and a 1 year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC - Get Free Report) last announced its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 predict that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Blueprint Medicines

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

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Piper Sandler increased their price target on Blueprint Medicines from $109.00 to $119.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Morgan Stanley began coverage on Blueprint Medicines in a research report on Thursday, March 20th. They set an "equal weight" rating and a $100.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on Blueprint Medicines from $126.00 to $129.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Stephens reiterated an "overweight" rating and set a $140.00 price objective on shares of Blueprint Medicines in a report on Thursday, January 2nd. Finally, Jefferies Financial Group started coverage on shares of Blueprint Medicines in a report on Monday, March 17th. They issued a "buy" rating and a $135.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.