Man Group plc Has $9.06 Million Stock Holdings in Blueprint Medicines Co. (NASDAQ:BPMC)

Man Group plc lowered its holdings in Blueprint Medicines Co. (NASDAQ:BPMC) by 80.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 103,919 shares of the biotechnology company’s stock after selling 414,697 shares during the period. Man Group plc’s holdings in Blueprint Medicines were worth $9,064,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Torray Investment Partners LLC boosted its holdings in Blueprint Medicines by 1.1% in the 4th quarter. Torray Investment Partners LLC now owns 16,499 shares of the biotechnology company’s stock valued at $1,439,000 after purchasing an additional 186 shares during the period. Summit Investment Advisors Inc. increased its stake in Blueprint Medicines by 4.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,652 shares of the biotechnology company’s stock valued at $580,000 after acquiring an additional 283 shares during the period. Pitcairn Co. raised its holdings in Blueprint Medicines by 2.8% in the 4th quarter. Pitcairn Co. now owns 10,608 shares of the biotechnology company’s stock valued at $925,000 after acquiring an additional 293 shares in the last quarter. Hillsdale Investment Management Inc. raised its holdings in Blueprint Medicines by 0.6% in the 4th quarter. Hillsdale Investment Management Inc. now owns 50,830 shares of the biotechnology company’s stock valued at $4,433,000 after acquiring an additional 310 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Blueprint Medicines by 48.2% in the 4th quarter. Van ECK Associates Corp now owns 1,116 shares of the biotechnology company’s stock worth $97,000 after acquiring an additional 363 shares during the period.

Analyst Ratings Changes

A number of research firms have recently issued reports on BPMC. JMP Securities restated a “market outperform” rating and set a $125.00 price objective on shares of Blueprint Medicines in a research report on Friday, February 14th. StockNews.com upgraded shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research note on Friday, May 2nd. Needham & Company LLC decreased their target price on shares of Blueprint Medicines from $133.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Piper Sandler increased their price target on shares of Blueprint Medicines from $109.00 to $119.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. lifted their price objective on Blueprint Medicines from $126.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Blueprint Medicines has an average rating of “Moderate Buy” and an average target price of $126.56.

Insiders Place Their Bets

In other news, COO Christina Rossi sold 2,274 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $95.02, for a total transaction of $216,075.48. Following the transaction, the chief operating officer now directly owns 69,266 shares in the company, valued at approximately $6,581,655.32. This represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ariel Hurley sold 2,752 shares of the 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 sale, the insider now directly owns 16,944 shares in the company, valued at $1,747,434.72. This trade represents a 13.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,503 shares of company stock valued at $1,027,931 in the last 90 days. 4.21% of the stock is currently owned by insiders.

Blueprint Medicines Trading Up 2.2%

BPMC stock opened at $101.69 on Monday. The business has a fifty day moving average price of $89.65 and a 200 day moving average price of $94.40. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.85 and a quick ratio of 2.80. Blueprint Medicines Co. has a fifty-two week low of $73.04 and a fifty-two week high of $121.90. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of -94.16 and a beta of 0.83.

Blueprint Medicines (NASDAQ:BPMC) last announced its earnings results on Thursday, May 1st. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.32). Blueprint Medicines had a negative net margin of 13.19% and a negative return on equity of 77.49%. The business had revenue of $149.41 million during the quarter, compared to analyst estimates of $158.31 million. During the same quarter last year, the business posted $1.40 earnings per share. The business’s quarterly revenue was up 55.5% compared to the same quarter last year. Analysts expect that Blueprint Medicines Co. will post -1.28 EPS 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.