Biomea Fusion, Inc. (NASDAQ:BMEA) Shares Sold by Marshall Wace LLP

Marshall Wace LLP decreased its stake in shares of Biomea Fusion, Inc. (NASDAQ:BMEA) by 49.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 123,313 shares of the company’s stock after selling 121,412 shares during the period. Marshall Wace LLP owned 0.34% of Biomea Fusion worth $478,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in shares of Biomea Fusion by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 601,479 shares of the company’s stock worth $6,076,000 after buying an additional 4,291 shares during the last quarter. Renaissance Technologies LLC increased its stake in Biomea Fusion by 317.7% during the fourth quarter. Renaissance Technologies LLC now owns 343,732 shares of the company’s stock worth $1,334,000 after acquiring an additional 261,432 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Biomea Fusion in the 4th quarter worth about $914,000. Federated Hermes Inc. acquired a new position in shares of Biomea Fusion in the 4th quarter valued at about $463,000. Finally, Jump Financial LLC purchased a new stake in shares of Biomea Fusion during the 4th quarter worth about $383,000. Hedge funds and other institutional investors own 96.72% of the company’s stock.

Biomea Fusion Stock Up 7.4 %

Shares of NASDAQ BMEA opened at $2.18 on Friday. Biomea Fusion, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $13.43. The business has a 50 day moving average price of $2.27 and a two-hundred day moving average price of $4.66. The firm has a market cap of $81.91 million, a PE ratio of -0.54 and a beta of -0.07.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings results on Monday, March 31st. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.19. On average, analysts anticipate that Biomea Fusion, Inc. will post -3.93 earnings per share for the current year.

Wall Street Analyst Weigh In

BMEA has been the topic of several research reports. HC Wainwright restated a “buy” rating and issued a $40.00 price target on shares of Biomea Fusion in a report on Monday, March 31st. Barclays reduced their target price on shares of Biomea Fusion from $11.00 to $3.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 2nd. Oppenheimer set a $10.00 price target on shares of Biomea Fusion in a research report on Monday, March 24th. Finally, D. Boral Capital reissued a “buy” rating and issued a $16.00 price objective on shares of Biomea Fusion in a research report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Biomea Fusion presently has an average rating of “Buy” and a consensus price target of $23.91.

Biomea Fusion Profile

Biomea Fusion, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of covalent small molecule drugs to treat patients with genetically defined cancers and metabolic diseases. Its lead product candidate is BMF-219, a covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.