Short Interest in Blueprint Medicines Co. (NASDAQ:BPMC) Increases By 12.6%

Blueprint Medicines Co. (NASDAQ:BPMC) was the recipient of a large increase in short interest during 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 days-to-cover ratio is presently 7.9 days.

Insider Activity at Blueprint Medicines

In related news, CEO Kate Haviland sold 1,446 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $110.24, for a total value of $159,407.04. Following the completion of the transaction, the chief executive officer now owns 149,378 shares in the company, valued at $16,467,430.72. This represents a 0.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Christina Rossi sold 2,274 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $95.10, for a total transaction of $216,257.40. Following the sale, the chief operating officer now owns 71,657 shares in the company, valued at $6,814,580.70. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,851 shares of company stock worth $4,984,696 in the last ninety days. 4.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Blueprint Medicines

Several large investors have recently bought and sold shares of BPMC. Mackenzie Financial Corp raised its position in shares of Blueprint Medicines by 5.2% during the 2nd quarter. Mackenzie Financial Corp now owns 4,885 shares of the biotechnology company’s stock valued at $527,000 after acquiring an additional 243 shares during the last quarter. Creative Planning increased its holdings in Blueprint Medicines by 27.1% in the second quarter. Creative Planning now owns 12,351 shares of the biotechnology company’s stock valued at $1,331,000 after purchasing an additional 2,636 shares during the last quarter. Dana Investment Advisors Inc. lifted its stake in Blueprint Medicines by 8.2% in the second quarter. Dana Investment Advisors Inc. now owns 14,744 shares of the biotechnology company’s stock valued at $1,589,000 after buying an additional 1,114 shares during the period. Clearbridge Investments LLC bought a new position in Blueprint Medicines during the second quarter worth about $23,817,000. Finally, CWM LLC increased its stake in shares of Blueprint Medicines by 69.2% in the 3rd quarter. CWM LLC now owns 1,870 shares of the biotechnology company’s stock valued at $173,000 after acquiring an additional 765 shares during the last quarter.

Blueprint Medicines Trading Down 0.9 %

NASDAQ:BPMC traded down $1.03 on Monday, hitting $111.50. 757,436 shares of the stock were exchanged, compared to its average volume of 910,249. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.27 and a current ratio of 3.32. Blueprint Medicines has a 52 week low of $72.24 and a 52 week high of $121.90. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of -52.84 and a beta of 0.61. The company’s 50-day moving average price is $98.13 and its 200 day moving average price is $95.03.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BPMC shares. UBS Group started coverage on Blueprint Medicines in a research report on Thursday, October 24th. They set a “neutral” rating and a $88.00 price target on the stock. Guggenheim reiterated a “buy” rating on shares of Blueprint Medicines in a research report on Wednesday, December 11th. HC Wainwright restated a “buy” rating and set a $135.00 price objective on shares of Blueprint Medicines in a research report on Friday, November 15th. Piper Sandler increased their target price on shares of Blueprint Medicines from $109.00 to $119.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, Wells Fargo & Company reduced their price objective on Blueprint Medicines from $153.00 to $151.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.56.

About Blueprint Medicines

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.