A company insider recently sold 20,000 shares of Blueprint Medicines Corporation [BPMC]. Should You Sale?


Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Blueprint Medicines Corporation shares valued at $1,001,800 were sold by Albers Jeffrey W. on Dec 05. At $50.09 per share, Albers Jeffrey W. sold 20,000 shares. The insider’s holdings dropped to 183,243 shares worth approximately $7.92 million following the completion of this transaction.

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Also, Haviland Kate purchased 1,100 shares, netting a total of over 48,378 in proceeds. Following the buying of shares at $43.98 each, the insider now holds 92,281 shares.

Before that, Rossi Christina had sold 533 shares from its account. In a trade valued at $24,113, the CHIEF OPERATING OFFICER traded Blueprint Medicines Corporation shares for $45.24 each. Upon closing the transaction, the insider’s holdings decreased to 533 shares, worth approximately $1.88 million.

As published in a research note from Wells Fargo on January 03, 2023, Blueprint Medicines Corporation [BPMC] has been rated up from an Underweight to an Equal weight and the price target has been revised to $41. This represents a -5.39% premium over Thursday’s closing price. Analysts at Needham started covering the stock with ‘”a Buy”‘ outlook in a report released in mid December. As of November 02, 2022, Oppenheimer has decreased its “an Outperform” rating to a “Perform” for BPMC. Earlier on September 14, 2022, Berenberg initiated its rating. Their recommendation was “a Buy” for BPMC stock.

Analyzing BPMC Stock Performance

On Thursday, Blueprint Medicines Corporation [NASDAQ: BPMC] rose 0.14% to $43.21. The stock’s lowest price that day was $42.25, but it reached a high of $43.56 in the same session. During the last five days, there has been a surge of approximately 3.95%. Over the course of the year, Blueprint Medicines Corporation shares have dropped approximately -1.37%. Shares of the company reached a 52-week high of $51.07 on 01/13/23 and a 52-week low of $37.82 on 02/24/23. A 50-day SMA is recorded $45.05, while a 200-day SMA reached $53.72. Nevertheless, trading volume fell to 0.52 million shares from 0.91 million shares the previous day.

Support And Resistance Levels for Blueprint Medicines Corporation (BPMC)

According to the 24-hour chart, there is a support level at 42.38, which, if violated, would cause prices to drop to 41.61. In the upper region, resistance lies at 43.98. The next price resistance is at 44.81. RSI (Relative Strength Index) is 47.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.06, which suggests the price will decrease in the coming days. Percent R is at 38.47%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Blueprint Medicines Corporation subject to short interest?

Stocks of Blueprint Medicines Corporation saw a sharp rise in short interest on Jan 30, 2023 jumping by 0.38 million shares to 5.01 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 4.63 million shares. A jump of 7.58% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 11.11 of the overall float, the days-to-cover ratio (short ratio) jumped to 11.11.

Which companies own the most shares of Blueprint Medicines Corporation (BPMC)?

According to Fidelity Management & Research Co filings, the company currently owns 7,173,398 shares, which is about 11.99% of the total BPMC shares outstanding. The investor’s shares have appreciated by 206,788 from its previous 13-F filing of 6966610.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $262,393,593. Wellington Management Co. LLP acquire a 30.84% interest valued at $233.86 million while BlackRock Fund Advisors purchased a 318,472 stake. A total of 267,479 shares of Blueprint Medicines Corporation were bought by T. Rowe Price Associates, Inc. during the quarter, and 615,123 were bought by SSgA Funds Management, Inc. In its current portfolio, T. Rowe Price Investment Manageme holds 2,492,381 shares valued at $116.49 million.

In terms of Blueprint Medicines Corporation share price expectations, FactSet research, analysts set an average price target of $68.65 in the next 12 months, up nearly 62.22% from the previous closing price of $43.15. Analysts anticipate Blueprint Medicines Corporation stock to reach $114.00 by 2023, with the lowest price target being $38.00. In spite of this, 19 analysts ranked Blueprint Medicines Corporation stock as an Overweight at the end of 2023. On July 08, 2022, Oppenheimer assigned a price target of “an Outperform” to the stock and initiated coverage with a $80.


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