Walleye Capital LLC Makes New $264,000 Investment in Blueprint Medicines Co. (NASDAQ:BPMC)

Walleye Capital LLC bought a new position in shares of Blueprint Medicines Co. (NASDAQ:BPMCGet Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,234 shares of the biotechnology company’s stock, valued at approximately $264,000.

Other institutional investors have also recently bought and sold shares of the company. Duality Advisers LP acquired a new position in Blueprint Medicines during the first quarter worth about $761,000. Eventide Asset Management LLC increased its stake in shares of Blueprint Medicines by 49.7% in the first quarter. Eventide Asset Management LLC now owns 592,500 shares of the biotechnology company’s stock valued at $37,849,000 after buying an additional 196,700 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Blueprint Medicines by 1.9% in the first quarter. JPMorgan Chase & Co. now owns 1,675,124 shares of the biotechnology company’s stock valued at $107,006,000 after buying an additional 30,963 shares during the period. Aigen Investment Management LP acquired a new position in shares of Blueprint Medicines in the first quarter valued at approximately $570,000. Finally, Rock Springs Capital Management LP increased its stake in shares of Blueprint Medicines by 10.2% in the first quarter. Rock Springs Capital Management LP now owns 947,715 shares of the biotechnology company’s stock valued at $60,540,000 after buying an additional 87,960 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Piper Sandler lowered their price objective on Blueprint Medicines from $65.00 to $59.00 in a research note on Tuesday, August 2nd. Berenberg Bank assumed coverage on Blueprint Medicines in a research note on Wednesday, September 14th. They issued a “buy” rating and a $90.00 price objective for the company. Wedbush lowered their price objective on Blueprint Medicines from $120.00 to $106.00 and set an “outperform” rating for the company in a research note on Wednesday, November 2nd. Oppenheimer cut Blueprint Medicines from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 2nd. Finally, The Goldman Sachs Group reduced their target price on Blueprint Medicines from $143.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, November 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $83.67.

Insider Transactions at Blueprint Medicines

In other news, CEO Kate Haviland bought 1,100 shares of the stock in a transaction dated Thursday, November 3rd. The shares were bought at an average cost of $43.98 per share, with a total value of $48,378.00. Following the completion of the transaction, the chief executive officer now directly owns 92,281 shares of the company’s stock, valued at $4,058,518.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jeffrey W. Albers sold 8,410 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $70.54, for a total value of $593,241.40. Following the completion of the sale, the director now directly owns 183,243 shares of the company’s stock, valued at approximately $12,925,961.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kate Haviland purchased 1,100 shares of the stock in a transaction that occurred on Thursday, November 3rd. The stock was bought at an average cost of $43.98 per share, with a total value of $48,378.00. Following the completion of the transaction, the chief executive officer now directly owns 92,281 shares in the company, valued at approximately $4,058,518.38. The disclosure for this purchase can be found here. Insiders have sold 17,420 shares of company stock valued at $1,226,906 over the last ninety days. 3.42% of the stock is owned by company insiders.

Blueprint Medicines Price Performance

Shares of NASDAQ:BPMC opened at $42.47 on Friday. The company has a quick ratio of 6.79, a current ratio of 6.99 and a debt-to-equity ratio of 0.19. Blueprint Medicines Co. has a twelve month low of $40.78 and a twelve month high of $111.78. The stock’s 50 day moving average is $55.60 and its 200-day moving average is $57.98. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of -3.51 and a beta of 0.67.

Blueprint Medicines Profile

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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 non-advanced SM and other mast cell disorders; and Fisogatinib, an orally available and potent inhibitor for the treatment of hepatocellular carcinoma.

See Also

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Institutional Ownership by Quarter for Blueprint Medicines (NASDAQ:BPMC)

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