Blueprint Medicines Co. (NASDAQ:BPMC) Short Interest Update

Blueprint Medicines Co. (NASDAQ:BPMC) was the recipient of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 5,100,000 shares, an increase of 12.6% from the December 31st total of 4,530,000 shares. Based on an average daily volume of 643,900 shares, the short-interest ratio is presently 7.9 days.

Insider Transactions at Blueprint Medicines

In other Blueprint Medicines news, COO Christina Rossi sold 2,274 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $95.10, for a total transaction of $216,257.40. Following the completion of the sale, the chief operating officer now directly owns 71,657 shares in the company, valued at approximately $6,814,580.70. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey W. Albers sold 15,161 shares of Blueprint Medicines stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $109.53, for a total transaction of $1,660,584.33. Following the completion of the sale, the director now owns 152,396 shares of the company’s stock, valued at $16,691,933.88. This represents a 9.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,851 shares of company stock valued at $4,984,696. Company insiders own 4.21% of the company’s stock.

Institutional Trading of Blueprint Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of BPMC. Mackenzie Financial Corp raised its position in shares of Blueprint Medicines by 5.2% during the second quarter. Mackenzie Financial Corp now owns 4,885 shares of the biotechnology company’s stock worth $527,000 after purchasing an additional 243 shares during the period. Creative Planning raised its position in shares of Blueprint Medicines by 27.1% during the second quarter. Creative Planning now owns 12,351 shares of the biotechnology company’s stock worth $1,331,000 after purchasing an additional 2,636 shares during the period. Dana Investment Advisors Inc. raised its position in shares of Blueprint Medicines by 8.2% during the second quarter. Dana Investment Advisors Inc. now owns 14,744 shares of the biotechnology company’s stock worth $1,589,000 after purchasing an additional 1,114 shares during the period. Clearbridge Investments LLC acquired a new stake in shares of Blueprint Medicines during the second quarter worth $23,817,000. Finally, CWM LLC raised its position in shares of Blueprint Medicines by 69.2% during the third quarter. CWM LLC now owns 1,870 shares of the biotechnology company’s stock worth $173,000 after purchasing an additional 765 shares during the period.

Blueprint Medicines Price Performance

Shares of BPMC traded down $1.03 during midday trading on Monday, reaching $111.50. The stock had a trading volume of 757,436 shares, compared to its average volume of 910,249. Blueprint Medicines has a 52 week low of $72.24 and a 52 week high of $121.90. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.32 and a quick ratio of 3.27. The firm’s 50 day moving average price is $98.13 and its 200-day moving average price is $95.03. The company has a market capitalization of $7.08 billion, a P/E ratio of -52.84 and a beta of 0.61.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BPMC. Piper Sandler boosted 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. Needham & Company LLC reissued a “buy” rating and set a $135.00 price target on shares of Blueprint Medicines in a research report on Monday, January 13th. Guggenheim reissued a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. UBS Group began coverage on shares of Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 price target for the company. Finally, StockNews.com raised shares of Blueprint Medicines from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $123.56.

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.