Blueprint Medicines Corporation’s filing revealed that its Director Albers Jeffrey W. unloaded Company’s shares for reported $0.5 million on Aug 25. In the deal valued at $50.16 per share,10,000 shares were sold. As a result of this transaction, Albers Jeffrey W. now holds 176,050 shares worth roughly $ 8.75 million.
Then, Albers Jeffrey W. sold 15,000 shares, generating $743,550 in total proceeds. Upon selling the shares at $49.57, the Director now owns 176,050 shares.
Before that, Carter Percy H. sold 2,307 shares. Blueprint Medicines Corporation shares valued at $120,102 were divested by the CHIEF SCIENTIFIC OFFICER at a price of $52.06 per share. As a result of the transaction, Carter Percy H. now holds 38,117 shares, worth roughly $1.89 million.
Needham reiterated its Blueprint Medicines Corporation [BPMC] rating to a Buy in a research note published on Tuesday, August 21, 2023; the price target was $66. PT values the company’s stock at a premium of 24.71 to its Tuesday closing price.
Price Performance Review of BPMC
On Tuesday, Blueprint Medicines Corporation [NASDAQ:BPMC] saw its stock fall -1.88% to $49.69. On the same session, the stock had its day’s lowest price of $48.72, but rose to a high of $50.94. Over the last five days, the stock has gained 1.35%. Blueprint Medicines Corporation shares have risen nearly 13.42% since the year began. Nevertheless, the stocks have fallen -32.70% over the past one year. While a 52-week high of $79.40 was reached on 07/31/23, a 52-week low of $37.82 was recorded on 02/24/23. SMA at 50 days reached $55.38, while 200 days put it at $50.06. A total of 0.57 million shares were traded, compared to the trading of 0.55 million shares in the previous session.
Levels Of Support And Resistance For BPMC Stock
The 24-hour chart illustrates a support level at 48.63, which if violated will result in even more drops to 47.56. On the upside, there is a resistance level at 50.85. A further resistance level may holdings at 52.00. The Relative Strength Index (RSI) on the 14-day chart is 43.54, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.44, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 51.87%. Stochastics %K at 61.33% indicates the stock is a holding.
How much short interest is there in Blueprint Medicines Corporation?
A steep rise in short interest was recorded in Blueprint Medicines Corporation stocks on Aug 14, 2023, growing by 0.33 million shares to a total of 3.91 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.58 million shares. There was a rise of 8.44%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 8.70% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.57.
Blueprint Medicines Corporation [BPMC] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 5,756,210 shares, or roughly 9.52% of the outstanding BPMC shares. In other words, the investor’s shares have risen by 43,221 from its previous 13-F filing of 5712989.0. Additionally, T. Rowe Price Associates, Inc. increased 13.80% of its stake after which the total value it holdings stand at $366,320,988, while Fidelity Management & Research Co reduced -22.23% of its stake to hold $356.93 million in the firm. Over the last quarter, Wellington Management Co. LLP sold -213,989 shares of Blueprint Medicines Corporation, while BlackRock Fund Advisors sold 92,243 shares. At present, SSgA Funds Management, Inc. is holding 2,502,993 shares valued at $165.2 million. T. Rowe Price Investment Manageme owned 2,451,035 shares of the company at the time of its most recent 13F filing, worth $161.77 million.
According to FactSet, Blueprint Medicines Corporation’s share price will average $74.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 57.98 percent from its previous closing price of $50.64. Analysts expect Blueprint Medicines Corporation stock to reach the higher price of $114.00, while the lowest price estimate is $40.00. However, 19 analysts have rated BPMC stock as an Overweight in their predictions for 2023.