Teachers Retirement System of The State of Kentucky Cuts Stock Position in Blueprint Medicines Co. (NASDAQ:BPMC)

Teachers Retirement System of The State of Kentucky trimmed its position in shares of Blueprint Medicines Co. (NASDAQ:BPMC) by 22.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,300 shares of the biotechnology company’s stock after selling 4,419 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Blueprint Medicines were worth $1,411,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Blueprint Medicines by 0.6% during the third quarter. Vanguard Group Inc. now owns 5,967,143 shares of the biotechnology company’s stock valued at $299,670,000 after acquiring an additional 37,716 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Blueprint Medicines by 3.2% in the 3rd quarter. Wellington Management Group LLP now owns 5,080,521 shares of the biotechnology company’s stock valued at $255,144,000 after purchasing an additional 156,807 shares in the last quarter. Rock Springs Capital Management LP boosted its stake in shares of Blueprint Medicines by 22.8% in the 3rd quarter. Rock Springs Capital Management LP now owns 2,685,294 shares of the biotechnology company’s stock valued at $134,855,000 after purchasing an additional 498,622 shares in the last quarter. Polar Capital Holdings Plc grew its holdings in shares of Blueprint Medicines by 108.0% during the 3rd quarter. Polar Capital Holdings Plc now owns 1,040,000 shares of the biotechnology company’s stock valued at $52,229,000 after purchasing an additional 540,000 shares during the last quarter. Finally, Avidity Partners Management LP raised its position in Blueprint Medicines by 81.1% in the 3rd quarter. Avidity Partners Management LP now owns 751,600 shares of the biotechnology company’s stock worth $37,745,000 after purchasing an additional 336,600 shares during the period.

Insider Buying and Selling at Blueprint Medicines

In related news, CFO Michael Landsittel sold 10,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $105.00, for a total value of $1,050,000.00. Following the completion of the transaction, the chief financial officer now directly owns 47,286 shares in the company, valued at approximately $4,965,030. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Blueprint Medicines news, insider Ariel Hurley sold 1,834 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $103.88, for a total value of $190,515.92. Following the sale, the insider now directly owns 14,913 shares of the company’s stock, valued at $1,549,162.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Landsittel sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $105.00, for a total value of $1,050,000.00. Following the transaction, the chief financial officer now owns 47,286 shares of the company’s stock, valued at $4,965,030. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,864 shares of company stock valued at $6,272,263. 4.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BPMC. Leerink Partnrs raised Blueprint Medicines from an “underperform” rating to a “market perform” rating in a research note on Monday, May 6th. Piper Sandler raised their price target on Blueprint Medicines from $78.00 to $104.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. StockNews.com raised Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Citigroup increased their price objective on Blueprint Medicines from $65.00 to $76.00 and gave the company a “sell” rating in a research note on Friday, May 3rd. Finally, HC Wainwright lifted their target price on shares of Blueprint Medicines from $125.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Blueprint Medicines presently has a consensus rating of “Moderate Buy” and an average price target of $108.00.

Blueprint Medicines Stock Performance

Blueprint Medicines stock opened at $104.23 on Monday. Blueprint Medicines Co. has a fifty-two week low of $43.89 and a fifty-two week high of $111.02. The stock’s 50 day simple moving average is $101.33 and its two-hundred day simple moving average is $91.80. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.61 and a current ratio of 3.76. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of -21.67 and a beta of 0.70.

Blueprint Medicines (NASDAQ:BPMC) last released its earnings results on Thursday, May 2nd. The biotechnology company reported ($1.32) EPS for the quarter, beating analysts’ consensus estimates of ($1.64) by $0.32. The company had revenue of $96.12 million during the quarter, compared to analysts’ expectations of $82.58 million. Blueprint Medicines had a negative return on equity of 193.48% and a negative net margin of 102.15%. As a group, analysts expect that Blueprint Medicines Co. will post -5.15 earnings per share for the current fiscal year.

Blueprint Medicines 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.