Bank of New York Mellon Corp Acquires 3,586 Shares of Blueprint Medicines Corporation (NASDAQ:BPMC)

Bank of New York Mellon Corp grew its position in Blueprint Medicines Corporation (NASDAQ:BPMC) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 307,018 shares of the biotechnology company’s stock after acquiring an additional 3,586 shares during the period. Bank of New York Mellon Corp owned about 0.48% of Blueprint Medicines worth $27,174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. GF Fund Management CO. LTD. increased its position in Blueprint Medicines by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 1,626 shares of the biotechnology company’s stock valued at $144,000 after acquiring an additional 292 shares during the period. Calamos Advisors LLC purchased a new stake in Blueprint Medicines during the first quarter worth about $329,000. Moody Aldrich Partners LLC purchased a new position in shares of Blueprint Medicines in the first quarter worth about $1,977,000. Allspring Global Investments Holdings LLC boosted its position 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 valued at $426,000 after acquiring an additional 1,735 shares during the period. Finally, Diversified Trust Co lifted its position in Blueprint Medicines by 105.3% during the first quarter. Diversified Trust Co now owns 15,226 shares of the biotechnology company’s stock valued at $1,348,000 after purchasing an additional 7,808 shares during the last quarter.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, insider Ariel Hurley sold 2,752 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $103.13, for a total transaction of $283,813.76. Following the completion of the transaction, the insider directly owned 16,944 shares in the company, valued at $1,747,434.72. The trade was a 13.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Christina Rossi sold 2,274 shares of the business’s stock in a transaction 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 completion of the sale, the chief operating officer directly owned 64,718 shares in the company, valued at approximately $6,504,806.18. This represents a 3.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,351 shares of company stock worth $1,384,244 in the last 90 days. Company insiders own 4.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on BPMC shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $129.00 price objective (down from $130.00) on shares of Blueprint Medicines in a research report on Monday, June 2nd. JMP Securities restated a “market perform” rating on shares of Blueprint Medicines in a research report on Tuesday, June 3rd. Cowen lowered Blueprint Medicines to a “hold” rating in a research note on Monday, June 2nd. Stephens downgraded Blueprint Medicines from a “strong-buy” rating to a “hold” rating and lowered their price target for the stock from $150.00 to $135.00 in a report on Tuesday, June 3rd. Finally, Wall Street Zen raised Blueprint Medicines from a “sell” rating to a “hold” rating in a report on Friday, May 2nd. Eighteen analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $128.25.

Blueprint Medicines Trading Down 0.1%

Blueprint Medicines stock opened at $129.28 on Thursday. Blueprint Medicines Corporation has a 52 week low of $73.04 and a 52 week high of $129.65. The firm has a market capitalization of $8.35 billion, a PE ratio of -52.34 and a beta of 0.89. The business’s 50-day simple moving average is $118.77 and its 200-day simple moving average is $102.55. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.75 and a current ratio of 2.80.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.32). Blueprint Medicines had a negative return on equity of 64.60% and a negative net margin of 27.70%. The business had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. During the same period in the previous year, the firm earned $1.40 earnings per share. The firm’s revenue was up 55.5% compared to the same quarter last year. Equities research analysts forecast that Blueprint Medicines Corporation will post -1.28 earnings per share for the current year.

Blueprint Medicines Company 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.