Why Bristol Myers Squibb (BMY) Stock Is Down Today

Bristol Myers Squibb (BMY) is down 3.6% today. Here is some analysis on what might have caused this price movement.

Analysis: The move looks counterintuitive because Bristol Myers Squibb released two positive Phase 3 updates on October 12, 2026, but investors may be treating the news as not enough to fully offset broader worries about the company’s pipeline durability and near-term earnings power. This could be because traders are still focused on recent analyst downgrades and the view that some clinical wins may take time to translate into meaningful revenue.

Details:

On October 12, Bristol Myers Squibb said Phase 3 ACTION-1 met its primary endpoint, with RYZ101 showing a statistically significant and clinically meaningful progression-free survival benefit in patients with GEP-NETs.

Also on October 12, the company said Phase 3 ALOFT-IPF met its primary endpoint at the 60 mg dose for admilparant, while the 120 mg dose slowed decline in lung function but did not reach statistical significance.

Leerink downgraded the stock on October 5 to Market Perform from Outperform and cut its target to $59 from $73, pointing to caution around upcoming pipeline readouts.

Cantor Fitzgerald also lowered its target to $53 on October 8 while keeping a Neutral rating, reinforcing the idea that Wall Street remains cautious even after recent trial progress.

Sources:

Bristol Myers Squibb, TipRanks, StockAnalysis

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$BMY Insider Trading Activity

$BMY insiders have traded $BMY stock on the open market 2 times in the past 6 months. Of those trades, 0 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $BMY stock by insiders over the last 6 months:

CRISTIAN MASSACESI (EVP,Chief Med Offr,Head of Dev) sold 6,249 shares for an estimated $403,497
PHIL M HOLZER (SVP and Controller) sold 500 shares for an estimated $33,750

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$BMY Hedge Fund Activity

We have seen 1,140 institutional investors add shares of $BMY stock to their portfolio, and 1,127 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

JPMORGAN CHASE & CO added 71,713,442 shares (+inf%) to their portfolio in Q2 2026, for an estimated $4,132,128,528
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 67,595,177 shares (+inf%) to their portfolio in Q2 2026, for an estimated $3,894,834,098
PRICE T ROWE ASSOCIATES INC /MD/ added 21,457,405 shares (+209.3%) to their portfolio in Q2 2026, for an estimated $1,236,375,676
BLACKROCK, INC. added 8,702,106 shares (+5.1%) to their portfolio in Q2 2026, for an estimated $501,415,347
PACER ADVISORS, INC. added 7,995,711 shares (+inf%) to their portfolio in Q2 2026, for an estimated $460,712,867
CHARLES SCHWAB INVESTMENT MANAGEMENT INC added 6,479,804 shares (+10.6%) to their portfolio in Q2 2026, for an estimated $373,366,306
NORDEA INVESTMENT MANAGEMENT AB added 6,019,226 shares (+296.1%) to their portfolio in Q2 2026, for an estimated $346,827,802

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$BMY Government Contracts

We have seen $11,795,749 of award payments to $BMY over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

REVLIMID, POMALYST, CAMZYOS SPECIALTY PHARMACEUTICALS: $848,445
ABECMA FOR CAR-T: $378,650

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard. You can access data on government contracts through the Quiver Quantitative API government contracts endpoint.

$BMY Congressional Stock Trading

Members of Congress have traded $BMY stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $BMY stock by members of Congress over the last 6 months:

REPRESENTATIVE MIKE KELLY sold up to $50,000 on 05/07.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.