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Blueprint Medicines Corp (BPMC) Stock: Deerfield Management Reports New 4.51% Stake

A new 13G filing with the Securities and Exchange Commission revealed that James E. Flynn‘s Deerfield Management has acquired 1.23 million common shares of Blueprint Medicines Corp (NASDAQ:BPMC), which represent 4.51% of the company’s stock. The acquisition represents a new addition to Deerfield Management’s portfolio.

Blueprint Medicines Corp (NASDAQ:BPMC) is a biopharmaceutical company that works to discover therapies to help people who suffer from genomically defined diseases induced by abnormal kinase activation. Over the past 12 months, the company’s shares have gained 65.51%. For the second quarter of 2016, the company reported collaboration revenue of $7.07 million, and a loss per share of $0.70, compared to revenue of $2.69 million and a loss per share of $0.81 for the corresponding quarter in 2015.

James Flynn Deerfield Management

Out of the 749 hedge funds followed by Insider Monkey which filed 13Fs for the June quarter, 12 were bullish on Blueprint Medicines Corp (NASDAQ:BPMC) at the end of June, up by one from the end of March. Some of the largest positions in the company on June 30 were held by Richard Driehaus’ Driehaus Capital (760,303 shares), Eli Casdin’s Casdin Capital (340,000 shares), and James A. Silverman’s Opaleye Management (250,000 shares).

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Deerfield Mgmt 0 1,231,343 0 1,231,343 1,231,343 4.51%
Deerfield Management Company 0 1,231,343 0 1,231,343 1,231,343 4.51%
Deerfield Partners 0 539,328 0 539,328 539,328 1.98%
Deerfield International Master Fund 0 692,015 0 692,015 692,015 2.54%
James E. Flynn
James E. Flynn
Deerfield Management

Page 1 of 12 – SEC Filing

(Rule 13d-102)
(Amendment No. ) *
Blueprint Medicines Corporation

(Name of Issuer)

Common Stock

(Title of Class of Securities)

(CUSIP Number)
October 20, 2016

(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
          o Rule 13d-1(b)
          x Rule 13d-1(c)
          o Rule 13d-1(d)
(Page 1 of 10 Pages)
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
     The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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