Biomea Fusion (NASDAQ:BMEA) Posts Quarterly Earnings Results, Misses Estimates By $0.39 EPS

Biomea Fusion (NASDAQ:BMEA) issued its quarterly earnings data on Tuesday. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.39), Zacks reports.

Biomea Fusion Trading Up 8.0%

NASDAQ BMEA opened at $1.22 on Thursday. The firm has a market capitalization of $86.25 million, a P/E ratio of -0.93 and a beta of -0.20. The firm’s fifty day moving average price is $1.29 and its two-hundred day moving average price is $1.43. Biomea Fusion has a 1 year low of $0.87 and a 1 year high of $3.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its holdings in Biomea Fusion by 670.5% during the 1st quarter. AQR Capital Management LLC now owns 264,028 shares of the company’s stock valued at $562,000 after purchasing an additional 229,763 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Biomea Fusion by 99.2% in the second quarter. Bridgeway Capital Management LLC now owns 70,300 shares of the company’s stock valued at $127,000 after purchasing an additional 35,000 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of Biomea Fusion in the second quarter valued at about $26,000. Vanguard Group Inc. raised its position in shares of Biomea Fusion by 15.4% in the third quarter. Vanguard Group Inc. now owns 2,170,066 shares of the company’s stock valued at $4,384,000 after purchasing an additional 290,376 shares during the period. Finally, Two Sigma Investments LP lifted its stake in shares of Biomea Fusion by 61.0% during the 3rd quarter. Two Sigma Investments LP now owns 562,968 shares of the company’s stock worth $1,137,000 after buying an additional 213,321 shares during the last quarter. 96.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BMEA shares. D. Boral Capital reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Biomea Fusion in a research report on Wednesday. Rodman & Renshaw started coverage on Biomea Fusion in a report on Tuesday, January 13th. They set a “buy” rating and a $8.00 target price for the company. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Biomea Fusion in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.63.

Biomea Fusion Company Profile

Biomea Fusion, Inc (NASDAQ:BMEA) is a clinical‐stage biopharmaceutical company headquartered in Carlsbad, California. The company is dedicated to the discovery and development of small molecule therapies that target epigenetic regulators implicated in cancer. By leveraging a proprietary chemistry and drug discovery platform, Biomea Fusion aims to design precision medicines that modulate gene expression pathways involved in the initiation and progression of hematological malignancies and solid tumors.

The company’s lead clinical asset, BMF-219, is an orally bioavailable inhibitor of the menin–mixed‐lineage leukemia (MLL) protein–protein interaction.