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Blueprint Medicines Corp [NASDAQ: BPMC] Sees Decrease in Stock Value

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 $324,500 were sold by Namouni Fouad on Oct 03 ’24. At $89.32 per share, Namouni Fouad sold 3,633 shares. The insider’s holdings dropped to 69,070 shares worth approximately $6.01 million following the completion of this transaction.

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Also, Albers Jeffrey W. sold 19,702 shares, netting a total of over 1,685,891 in proceeds. Following the sale of shares at $85.57 each, the insider now holds 157,557 shares.

Before that, Albers Jeffrey W. had added 19,702 shares to its account. In a trade valued at $1,685,911, the Director bought Blueprint Medicines Corp shares for $85.57 each.

As published in their initiating research note from Stephens on May 14, 2024, Blueprint Medicines Corp [BPMC] has been an Overweight and the price target has been revised to $140. Analysts at Leerink Partners upgraded the stock from ‘”an Underperform”‘ to ‘”a Market perform”‘ outlook in a report released in early May. As of October 27, 2023, Oppenheimer has increased its “Perform” rating to a “an Outperform” for BPMC. Earlier on August 21, 2023, Needham resumed its rating. Their recommendation was “a Buy” for BPMC stock.

Analyzing BPMC Stock Performance

During the last five days, there has been a drop of approximately -1.25%. Over the course of the year, Blueprint Medicines Corp shares have dropped approximately -5.71%. Shares of the company reached a 52-week high of $121.90 on 07/16/24 and a 52-week low of $72.24 on 02/14/24. A 50-day SMA is recorded $91.19, while a 200-day SMA reached $94.86. Nevertheless, trading volume fell to 0.64 million shares from 0.4 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 85.89, which, if violated, would cause prices to drop to 84.82. In the upper region, resistance lies at 87.82. The next price resistance is at 88.68. RSI (Relative Strength Index) is 42.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.96, which suggests the price will decrease in the coming days. Percent R is at 85.60%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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