Blueprint Medicines Co. (NASDAQ:BPMC) Shares Purchased by Sei Investments Co.

Sei Investments Co. boosted its holdings in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,384 shares of the biotechnology company’s stock after buying an additional 6,411 shares during the period. Sei Investments Co.’s holdings in Blueprint Medicines were worth $6,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BPMC. Wellington Management Group LLP increased its holdings in shares of Blueprint Medicines by 22.5% during the third quarter. Wellington Management Group LLP now owns 3,964,610 shares of the biotechnology company’s stock valued at $366,726,000 after acquiring an additional 729,055 shares in the last quarter. State Street Corp grew its position in Blueprint Medicines by 16.2% during the 3rd quarter. State Street Corp now owns 2,765,702 shares of the biotechnology company’s stock worth $255,827,000 after purchasing an additional 385,818 shares during the last quarter. Jennison Associates LLC acquired a new position in Blueprint Medicines during the 4th quarter valued at approximately $31,417,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Blueprint Medicines by 161.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 496,087 shares of the biotechnology company’s stock worth $45,888,000 after buying an additional 306,079 shares during the last quarter. Finally, 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 worth $169,616,000 after buying an additional 269,896 shares during the period.

Wall Street Analysts Forecast Growth

BPMC has been the topic of several research reports. Piper Sandler upped their target price on Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Scotiabank assumed coverage on Blueprint Medicines in a report on Friday, March 7th. They set a “sector outperform” rating and a $150.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $133.00 target price on shares of Blueprint Medicines in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Blueprint Medicines in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.95.

Blueprint Medicines Price Performance

Blueprint Medicines stock opened at $88.51 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85. The company’s fifty day moving average price is $97.70 and its 200 day moving average price is $94.07. The stock has a market capitalization of $5.66 billion, a P/E ratio of -81.95 and a beta of 0.58. Blueprint Medicines Co. has a 1 year low of $80.68 and a 1 year high of $121.90.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) 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%. As a group, equities research analysts anticipate that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jeffrey W. Albers sold 15,161 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the completion of the sale, the director now directly owns 152,396 shares in the company, valued at approximately $16,691,933.88. The trade was a 9.05 % decrease in their ownership of the stock. 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 on Monday, March 3rd. The shares were sold at an average price of $92.62, for a total value of $296,661.86. Following the completion of the transaction, the insider now owns 18,270 shares in the company, valued at $1,692,167.40. The trade was a 14.92 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 31,608 shares of company stock worth $3,319,587. Corporate insiders own 4.21% of the company’s stock.

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.