Invesco Ltd. Increases Stake in Blueprint Medicines by 2.5%
Invesco Ltd. has raised its stake in Blueprint Medicines Corporation (NASDAQ: BPMC) by 2.5% during the first quarter of 2023. According to Holdings Channel, the investment firm acquired an additional 24,237 shares, bringing its total holdings to 984,674 shares. As of the end of the most recent quarter, the value of Invesco’s investment in the biotechnology company stood at approximately $87.15 million.
Several other major investors have also adjusted their positions in Blueprint Medicines, reflecting growing interest in the company. For instance, Thematics Asset Management purchased a new stake in the fourth quarter valued at $72,000. Headlands Technologies LLC increased its position by 25%, now holding 936 shares worth $83,000 after acquiring an additional 187 shares. Covestor Ltd. also raised its investment by 15.9%, owning now 1,128 shares valued at $100,000.
Notably, Point72 Asia Singapore Pte. Ltd. and GF Fund Management CO. LTD. each entered new positions in the fourth quarter, valued at approximately $106,000 and $116,000, respectively.
Recent Insider Transactions
Recent insider trading activity at Blueprint Medicines has also caught attention. On May 27, 2023, Director Jeffrey W. Albers sold 5,000 shares at an average price of $101.14, totaling approximately $505,700. Following this sale, Albers retained 146,630 shares, valued at around $14.83 million, marking a 3.30% decrease in his overall position.
On May 19, 2023, Chief Operating Officer Christina Rossi sold 2,274 shares at an average price of $100.51, resulting in a transaction worth about $228,560. After this sale, Rossi holds 64,718 shares, valued at roughly $6.50 million, which represents a 3.39% decrease in her position. In total, insiders have sold 8,325 shares in the last quarter, amounting to approximately $869,050, with insiders currently owning 4.21% of the company’s stock.
Company Overview and Market Performance
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. Financial metrics show a debt-to-equity ratio of 1.01, a quick ratio of 2.75, and a current ratio of 2.80. The stock has fluctuated between a 52-week low of $73.04 and a high of $129.65, with a 50-day simple moving average of $128.87 and a 200-day simple moving average of $106.98.
Blueprint Medicines Corporation is dedicated to developing precision therapies for genomically defined cancers and blood disorders, both in the United States and internationally. The company is actively working on treatments such as AYVAKIT for systemic mastocytosis and gastrointestinal stromal tumors, as well as BLU-263, a potent, orally available KIT inhibitor for indolent systemic mastocytosis and other mast cell disorders.
Investors and analysts alike are keeping a close eye on Blueprint Medicines as it continues to navigate the complex landscape of biotechnology and pharmaceuticals.
