Invesco Increases Stake in Blueprint Medicines by 2.5%

Invesco Ltd. has raised its stake in shares of Blueprint Medicines Corporation (NASDAQ: BPMC) by 2.5% during the first quarter of 2023. According to Holdings Channel, the investment firm purchased an additional 24,237 shares, bringing its total holdings to 984,674 shares, valued at approximately $87.15 million at the end of the quarter.

Several other large investors have also adjusted their positions in Blueprint Medicines. Thematics Asset Management established a new position in the company during the fourth quarter, investing $72,000. Meanwhile, Headlands Technologies LLC increased its stake by 25.0% in the first quarter, now holding 936 shares valued at around $83,000. Covestor Ltd. similarly raised its position by 15.9%, owning 1,128 shares worth $100,000 after acquiring an additional 155 shares. Other notable investors include Point72 Asia Singapore Pte. Ltd. and GF Fund Management CO. LTD., both of which bought new positions in the fourth quarter worth approximately $106,000 and $116,000, respectively.

Insider Transactions and Company Performance

In recent insider trading news, Director Jeffrey W. Albers sold 5,000 shares of Blueprint Medicines on May 27, 2023, at an average price of $101.14, resulting in a total transaction value of $505,700. Following this sale, Albers retains 146,630 shares valued at around $14.83 million, reflecting a 3.30% decrease in his position.

Additionally, Chief Operating Officer Christina Rossi sold 2,274 shares on May 19, 2023, for an average price of $100.51, amounting to $228,559.74. Rossi now holds 64,718 shares worth about $6.50 million, which represents a 3.39% reduction in her holdings. In total, insiders sold 8,325 shares of the company in the last quarter, with an aggregate value of $869,050. Currently, insiders own 4.21% of Blueprint Medicines.

Market Overview and Company Profile

As of the latest trading session, shares of Blueprint Medicines opened at $129.46. The company boasts a market capitalization of $8.36 billion, with a price-to-earnings ratio of -52.41 and a beta of 0.89. Its debt-to-equity ratio stands at 1.01, with a quick ratio of 2.75 and a current ratio of 2.80. Over the past year, Blueprint Medicines has seen a low of $73.04 and a high of $129.65. The company’s 50-day simple moving average is $128.87, while the 200-day simple moving average is $106.98.

Blueprint Medicines Corporation is a precision therapy company focused on developing innovative treatments for genomically defined cancers and blood disorders. Notable products in its pipeline include AYVAKIT, targeting systemic mastocytosis and gastrointestinal stromal tumors, and BLU-263, a potent KIT inhibitor aimed at treating indolent systemic mastocytosis and related disorders.

Investors and analysts will continue to monitor Blueprint Medicines as it navigates the biotechnology landscape, with keen interest in its ongoing developments and market performance.