Victory Capital Management Inc. Decreases Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Victory Capital Management Inc. cut its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 91.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 16,023 shares of the biotechnology company’s stock after selling 174,338 shares during the quarter. Victory Capital Management Inc.’s holdings in Blueprint Medicines were worth $1,398,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP purchased a new position in shares of Blueprint Medicines in the third quarter valued at $32,000. R Squared Ltd purchased a new position in shares of Blueprint Medicines in the fourth quarter valued at $51,000. Asset Management One Co. Ltd. purchased a new position in shares of Blueprint Medicines in the fourth quarter valued at $88,000. Van ECK Associates Corp boosted its stake in shares of Blueprint Medicines by 48.2% in the fourth quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock valued at $97,000 after purchasing an additional 363 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Blueprint Medicines in the third quarter valued at $108,000.

Insider Activity at Blueprint Medicines

In related news, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $110.14, for a total transaction of $250,458.36. Following the transaction, the chief operating officer now owns 67,109 shares of the company’s stock, valued at approximately $7,391,385.26. This trade represents a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kate Haviland sold 1,446 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total transaction of $159,407.04. Following the transaction, the chief executive officer now directly owns 149,378 shares in the company, valued at approximately $16,467,430.72. The trade was a 0.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,334 shares of company stock valued at $4,450,062. 4.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $133.00 price objective on shares of Blueprint Medicines in a research note on Thursday, February 13th. Piper Sandler increased their price objective on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a research note on Wednesday, December 11th. StockNews.com downgraded shares of Blueprint Medicines from a “hold” rating to a “sell” rating in a research note on Monday, March 3rd. Finally, Jefferies Financial Group assumed coverage on shares of Blueprint Medicines in a research note on Monday. They set a “buy” rating and a $135.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Blueprint Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.70.

Blueprint Medicines Stock Performance

Shares of BPMC opened at $89.59 on Wednesday. Blueprint Medicines Co. has a one year low of $80.68 and a one year high of $121.90. The company has a 50-day moving average of $99.49 and a two-hundred day moving average of $93.99. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of -82.95 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80.

Blueprint Medicines (NASDAQ:BPMC) last posted its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) EPS 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 year.

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.