Blueprint Medicines Co. (NASDAQ:BPMC) Shares Sold by Amalgamated Bank

Posted by Defense World Staff on Aug 8th, 2023

Amalgamated Bank lowered its holdings in Blueprint Medicines Co. (NASDAQ:BPMC – Free Report) by 13.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,470 shares of the biotechnology company’s stock after selling 1,310 shares during the quarter. Amalgamated Bank’s holdings in Blueprint Medicines were worth $381,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BPMC. Norges Bank purchased a new position in shares of Blueprint Medicines during the 4th quarter valued at about $27,778,000. State Street Corp lifted its holdings in shares of Blueprint Medicines by 30.9% in the 1st quarter. State Street Corp now owns 2,266,894 shares of the biotechnology company’s stock valued at $144,809,000 after buying an additional 535,424 shares during the period. Marshall Wace LLP acquired a new position in shares of Blueprint Medicines in the 4th quarter valued at about $23,195,000. Wellington Management Group LLP lifted its holdings in shares of Blueprint Medicines by 12.4% in the 1st quarter. Wellington Management Group LLP now owns 3,908,944 shares of the biotechnology company’s stock valued at $249,703,000 after buying an additional 431,619 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Blueprint Medicines by 6.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,299,290 shares of the biotechnology company’s stock valued at $188,352,000 after buying an additional 267,479 shares during the period.

Insider Activity at Blueprint Medicines

In related news, insider Percy H. Carter sold 2,307 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $52.06, for a total value of $120,102.42. Following the transaction, the insider now directly owns 38,117 shares in the company, valued at $1,984,371.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BPMC has been the subject of several analyst reports. Barclays boosted their price objective on Blueprint Medicines from $44.00 to $46.00 in a report on Tuesday, May 23rd. Wells Fargo & Company raised Blueprint Medicines from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $55.00 to $82.00 in a report on Monday, July 31st. The Goldman Sachs Group reduced their price target on Blueprint Medicines from $93.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, August 3rd. StockNews.com cut Blueprint Medicines from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, VNET Group reaffirmed a “maintains” rating on shares of Blueprint Medicines in a report on Friday, May 5th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.76.

View Our Latest Analysis on BPMC

Blueprint Medicines Price Performance

BPMC stock opened at $47.14 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.80 and a quick ratio of 4.70. The business has a 50 day simple moving average of $59.43 and a 200-day simple moving average of $51.62. The firm has a market capitalization of $2.86 billion, a PE ratio of -5.11 and a beta of 0.74. Blueprint Medicines Co. has a 1 year low of $37.82 and a 1 year high of $79.40.

Blueprint Medicines (NASDAQ:BPMC – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($2.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.58) by $0.39. The business had revenue of $57.60 million during the quarter, compared to analyst estimates of $45.60 million. Blueprint Medicines had a negative return on equity of 117.88% and a negative net margin of 245.62%. The business’s revenue was up 57.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.68) earnings per share. Equities research analysts anticipate that Blueprint Medicines Co. will post -9.15 earnings per share for the current fiscal year.

Blueprint Medicines Profile

(Free Report)

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; and Fisogatinib.

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

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