The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Blueprint Medicines Corp shares valued at $1,050,000 were sold by Landsittel Michael on May 02 ’24. At $105.00 per share, Landsittel Michael sold 10,000 shares. The insider’s holdings dropped to 47,286 shares worth approximately $5.12 million following the completion of this transaction.
Also, Hurley Ariel sold 1,834 shares, netting a total of over 190,516 in proceeds. Following the sale of shares at $103.88 each, the insider now holds 14,913 shares.
Before that, Landsittel Michael had sold 5,000 shares from its account. In a trade valued at $475,000, the CHIEF FINANCIAL OFFICER traded Blueprint Medicines Corp shares for $95.00 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $5.12 million.
As published in a research note from Leerink Partners on May 06, 2024, Blueprint Medicines Corp [BPMC] has been rated up from an Underperform to a Market perform and the price target has been revised to $97 from $50. Analysts at Oppenheimer upgraded the stock from ‘”a Perform”‘ to ‘”an Outperform”‘ outlook in a report released in late October. As of August 21, 2023, Needham has reiterated its “Buy” rating for BPMC. Earlier on July 31, 2023, Wells Fargo upgraded its rating. Their new recommendation was “an Overweight” for BPMC stock which previously was a “an Equal weight”.
Analyzing BPMC Stock Performance
During the last five days, there has been a surge of approximately 1.25%. Over the course of the year, Blueprint Medicines Corp shares have jumped approximately 17.45%. Shares of the company reached a 52-week high of $110.93 on 05/03/24 and a 52-week low of $72.24 on 02/14/24. A 50-day SMA is recorded $92.71, while a 200-day SMA reached $72.36. Nevertheless, trading volume fell to 0.55 million shares from 0.76 million shares the previous day.
Support And Resistance Levels for Blueprint Medicines Corp (BPMC)
According to the 24-hour chart, there is a support level at 107.60, which, if violated, would cause prices to drop to 106.86. In the upper region, resistance lies at 109.47. The next price resistance is at 110.61. RSI (Relative Strength Index) is 71.59 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 9.68, which suggests the price will increase in the coming days. Percent R is at 10.61%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
