Vanguard Group Inc. Trims Stock Holdings in Blueprint Medicines Corporation (NASDAQ:BPMC)

Vanguard Group Inc. trimmed its holdings in Blueprint Medicines Corporation (NASDAQ:BPMC) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,640,523 shares of the biotechnology company’s stock after selling 134,361 shares during the quarter. Vanguard Group Inc. owned approximately 10.28% of Blueprint Medicines worth $587,753,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in 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 worth $426,000 after purchasing an additional 1,735 shares in the last quarter. Cerity Partners LLC bought a new position in Blueprint Medicines in the fourth quarter worth approximately $291,000. SG Americas Securities LLC grew its stake in Blueprint Medicines by 70.1% in the first quarter. SG Americas Securities LLC now owns 7,276 shares of the biotechnology company’s stock worth $644,000 after purchasing an additional 2,999 shares in the last quarter. Fifth Third Bancorp grew its stake in Blueprint Medicines by 4.7% in the first quarter. Fifth Third Bancorp now owns 3,221 shares of the biotechnology company’s stock worth $285,000 after purchasing an additional 146 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Blueprint Medicines in the first quarter worth approximately $297,000.

Blueprint Medicines Price Performance

Blueprint Medicines stock opened at $129.46 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.80 and a quick ratio of 2.75. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of -52.41 and a beta of 0.89. Blueprint Medicines Corporation has a 1-year low of $73.04 and a 1-year high of $129.65. The business has a fifty day moving average price of $128.81 and a 200-day moving average price of $106.77.

Analyst Ratings Changes

BPMC has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $135.00 price objective on shares of Blueprint Medicines in a research note on Friday, May 2nd. Citigroup raised Blueprint Medicines from a “strong sell” rating to a “hold” rating and increased their price objective for the stock from $83.00 to $129.00 in a research note on Wednesday, June 4th. UBS Group increased their price objective on Blueprint Medicines from $88.00 to $129.00 and gave the stock a “neutral” rating in a research note on Thursday, June 5th. Citizens Jmp cut Blueprint Medicines from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 3rd. Finally, Wall Street Zen raised Blueprint Medicines to a “hold” rating in a research report on Friday, July 18th. Seventeen analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $130.00.

Insider Transactions at Blueprint Medicines

In other news, Director Jeffrey W. Albers sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $101.14, for a total value of $505,700.00. Following the completion of the sale, the director owned 146,630 shares of the company’s stock, valued at $14,830,158.20. This trade represents a 3.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Percy H. Carter sold 1,051 shares of the firm’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $128.25, for a total value of $134,790.75. Following the completion of the sale, the insider directly owned 53,155 shares of the company’s stock, valued at $6,817,128.75. The trade was a 1.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,325 shares of company stock valued at $869,050 in the last quarter. 4.21% of the stock is currently owned by corporate insiders.

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.