Viking Global Investors LP Lowers Stock Position in Blueprint Medicines Corp (NASDAQ:BPMC)

Viking Global Investors LP lessened its holdings in Blueprint Medicines Corp (NASDAQ:BPMC) by 16.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 551,040 shares of the biotechnology company’s stock after selling 107,621 shares during the quarter. Viking Global Investors LP owned 1.12% of Blueprint Medicines worth $51,980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in BPMC. State Board of Administration of Florida Retirement System boosted its stake in shares of Blueprint Medicines by 2.1% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 24,831 shares of the biotechnology company’s stock worth $2,342,000 after acquiring an additional 510 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Blueprint Medicines by 4,594.1% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 798 shares of the biotechnology company’s stock worth $75,000 after acquiring an additional 781 shares in the last quarter. Whittier Trust Co. purchased a new stake in shares of Blueprint Medicines during the 2nd quarter worth approximately $97,000. Xact Kapitalforvaltning AB boosted its stake in shares of Blueprint Medicines by 17.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 7,551 shares of the biotechnology company’s stock worth $712,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Summit Wealth & Retirement Planning Inc. boosted its stake in shares of Blueprint Medicines by 19.7% during the 2nd quarter. Summit Wealth & Retirement Planning Inc. now owns 7,345 shares of the biotechnology company’s stock worth $693,000 after acquiring an additional 1,210 shares in the last quarter. 99.29% of the stock is currently owned by institutional investors.

Shares of Blueprint Medicines stock traded down $1.28 during trading on Wednesday, hitting $79.66. 16,646 shares of the company were exchanged, compared to its average volume of 455,519. The company has a quick ratio of 7.52, a current ratio of 7.52 and a debt-to-equity ratio of 0.16. Blueprint Medicines Corp has a fifty-two week low of $44.58 and a fifty-two week high of $102.98. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -14.78 and a beta of 1.65. The firm has a 50 day moving average price of $82.86 and a 200 day moving average price of $84.79.



Blueprint Medicines (NASDAQ:BPMC) last issued its quarterly earnings data on Thursday, August 1st. The biotechnology company reported ($2.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.92) by ($0.12). Blueprint Medicines had a negative return on equity of 73.73% and a negative net margin of 4,268.74%. The company had revenue of $5.11 million for the quarter, compared to analyst estimates of $1.39 million. During the same quarter in the prior year, the firm earned ($0.62) earnings per share. The company’s revenue for the quarter was down 87.7% on a year-over-year basis. Analysts predict that Blueprint Medicines Corp will post -8.44 earnings per share for the current year.

Several brokerages have recently commented on BPMC. Deutsche Bank began coverage on Blueprint Medicines in a research note on Thursday, July 18th. They set a “buy” rating and a $110.00 price target on the stock. Canaccord Genuity boosted their price target on Blueprint Medicines from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Cowen reissued a “buy” rating on shares of Blueprint Medicines in a research note on Monday, September 9th. Raymond James raised Blueprint Medicines from a “market perform” rating to an “outperform” rating in a research note on Thursday, September 12th. Finally, Zacks Investment Research lowered Blueprint Medicines from a “buy” rating to a “sell” rating and set a $94.00 price target on the stock. in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $107.60.

In other Blueprint Medicines news, CEO Jeffrey W. Albers sold 20,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $81.73, for a total value of $1,634,600.00. Following the completion of the transaction, the chief executive officer now directly owns 48,961 shares in the company, valued at approximately $4,001,582.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alexis Borisy sold 21,818 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $92.01, for a total value of $2,007,474.18. The disclosure for this sale can be found here. Insiders have sold a total of 86,662 shares of company stock valued at $7,613,317 over the last 90 days. Insiders own 4.02% of the company’s stock.

Blueprint Medicines Company Profile

Blueprint Medicines Corporation develops drugs of small molecule kinase inhibitors that target genomic drivers in various cancers and a rare genetic disease. Its lead drug candidates include avapritinib, which completed Phase I clinical trials that targets PDGFRA Exon 18 mutant GIST and KIT-driven GIST; and BLU-554, which is in Phase I clinical trials an orally available, potent, and irreversible inhibitor of the kinase FGFR4 that is activated in a defined subset of patients with hepatocellular carcinoma.

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

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