BIT Capital GmbH Boosts Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

BIT Capital GmbH grew its position in Blueprint Medicines Co. (NASDAQ:BPMC) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,921 shares of the biotechnology company’s stock after purchasing an additional 3,347 shares during the quarter. Blueprint Medicines comprises approximately 0.5% of BIT Capital GmbH’s investment portfolio, making the stock its 28th biggest holding. BIT Capital GmbH owned about 0.12% of Blueprint Medicines worth $6,883,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Quarry LP acquired a new stake in shares of Blueprint Medicines in the 3rd quarter worth $32,000. R Squared Ltd purchased a new stake in Blueprint Medicines in the fourth quarter valued at about $51,000. Asset Management One Co. Ltd. acquired a new stake in Blueprint Medicines in the fourth quarter worth about $88,000. Van ECK Associates Corp grew its stake in shares of Blueprint Medicines by 48.2% during the fourth quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $97,000 after acquiring an additional 363 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Blueprint Medicines during the third quarter valued at about $108,000.

Analysts Set New Price Targets

BPMC has been the topic of several research analyst reports. Jefferies Financial Group assumed coverage on shares of Blueprint Medicines in a research report on Monday, March 17th. They set a “buy” rating and a $135.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, February 14th. Wedbush reiterated an “outperform” rating and issued a $128.00 target price on shares of Blueprint Medicines in a research report on Friday, February 28th. JPMorgan Chase & Co. increased their price target on shares of Blueprint Medicines from $126.00 to $129.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Wolfe Research started coverage on shares of Blueprint Medicines in a research note on Tuesday, March 18th. They set an “outperform” rating for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Blueprint Medicines has an average rating of “Moderate Buy” and an average price target of $124.95.

Blueprint Medicines Stock Performance

NASDAQ:BPMC opened at $90.72 on Thursday. The company has a fifty day moving average of $98.84 and a two-hundred day moving average of $93.95. Blueprint Medicines Co. has a fifty-two week low of $80.68 and a fifty-two week high of $121.90. The stock has a market capitalization of $5.80 billion, a PE ratio of -84.00 and a beta of 0.58. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.80 and a current ratio of 2.85.

Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings results on Thursday, February 20th. The biotechnology company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.11). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. As a group, research analysts forecast that Blueprint Medicines Co. will post -1.28 earnings per share for the current fiscal year.

Insider Transactions at Blueprint Medicines

In related news, insider Ariel Hurley sold 2,250 shares of Blueprint Medicines stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $100.00, for a total transaction of $225,000.00. Following the transaction, the insider now owns 14,967 shares in the company, valued at approximately $1,496,700. This trade represents a 13.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Kate Haviland sold 1,446 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $110.24, for a total value of $159,407.04. Following the transaction, the chief executive officer now owns 149,378 shares in the company, valued at $16,467,430.72. This trade represents a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,608 shares of company stock valued at $3,319,587 over the last ninety days. 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.