Swiss National Bank Lowers Position in Blueprint Medicines Corporation (NASDAQ:BPMC)

Swiss National Bank lessened its stake in Blueprint Medicines Corporation (NASDAQ:BPMC) by 1.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 123,100 shares of the biotechnology company’s stock after selling 1,500 shares during the quarter. Swiss National Bank owned approximately 0.19% of Blueprint Medicines worth $10,896,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Blueprint Medicines by 53.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,957 shares of the biotechnology company’s stock worth $426,000 after buying an additional 1,735 shares in the last quarter. Cerity Partners LLC purchased a new position in shares of Blueprint Medicines in the fourth quarter worth $291,000. SG Americas Securities LLC lifted its holdings in shares of Blueprint Medicines by 70.1% in the first quarter. SG Americas Securities LLC now owns 7,276 shares of the biotechnology company’s stock worth $644,000 after buying an additional 2,999 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Blueprint Medicines by 4.7% in the first quarter. Fifth Third Bancorp now owns 3,221 shares of the biotechnology company’s stock worth $285,000 after buying an additional 146 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Blueprint Medicines in the first quarter worth $297,000.

Blueprint Medicines Stock Performance

NASDAQ BPMC opened at $129.46 on Friday. The company has a market cap of $8.36 billion, a P/E ratio of -52.41 and a beta of 0.89. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.75 and a current ratio of 2.80. The business’s 50 day moving average price is $128.87 and its 200-day moving average price is $106.98. Blueprint Medicines Corporation has a fifty-two week low of $73.04 and a fifty-two week high of $129.65.

Insider Activity

In other news, COO Christina Rossi sold 2,274 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $100.51, for a total transaction of $228,559.74. Following the transaction, the chief operating officer owned 64,718 shares of the company’s stock, valued at approximately $6,504,806.18. The trade was a 3.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Percy H. Carter sold 1,051 shares of the company’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $128.25, for a total value of $134,790.75. Following the completion of the transaction, the insider directly owned 53,155 shares in the company, valued at $6,817,128.75. This trade represents a 1.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,325 shares of company stock valued at $869,050. 4.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on BPMC. TD Cowen downgraded Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 3rd. Guggenheim set a $132.00 price objective on Blueprint Medicines in a research note on Tuesday, June 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, May 2nd. Wall Street Zen raised Blueprint Medicines to a “hold” rating in a research note on Friday, July 18th. Finally, Citizens Jmp downgraded Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 3rd. Seventeen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Blueprint Medicines currently has an average rating of “Hold” and an average target price of $130.00.

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.