Baker BROS. Advisors LP Sells 656,959 Shares of Biomea Fusion, Inc. (NASDAQ:BMEA)

Baker BROS. Advisors LP cut its holdings in Biomea Fusion, Inc. (NASDAQ:BMEA - Free Report) by 31.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,451,990 shares of the company's stock after selling 656,959 shares during the period. Baker BROS. Advisors LP owned 4.01% of Biomea Fusion worth $5,634,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position 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 acquiring an additional 4,291 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Biomea Fusion by 317.7% during the 4th quarter. Renaissance Technologies LLC now owns 343,732 shares of the company's stock worth $1,334,000 after purchasing an additional 261,432 shares during the period. Northern Trust Corp increased its position in Biomea Fusion by 3.9% during the fourth quarter. Northern Trust Corp now owns 322,650 shares of the company's stock worth $1,252,000 after purchasing an additional 12,210 shares during the last quarter. Walleye Capital LLC acquired a new stake in Biomea Fusion during the 4th quarter worth approximately $914,000. Finally, Federated Hermes Inc. purchased a new position in Biomea Fusion in the fourth quarter valued at about $463,000. Hedge funds and other institutional investors own 96.72% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BMEA shares. HC Wainwright cut their price target on shares of Biomea Fusion from $40.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday. Oppenheimer set a $10.00 target price on shares of Biomea Fusion in a report on Monday, March 24th. Barclays lowered their price target on Biomea Fusion from $11.00 to $3.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 2nd. Finally, D. Boral Capital reissued a "buy" rating and issued a $16.00 price target on shares of Biomea Fusion in a research note on Tuesday. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $22.60.

Biomea Fusion Trading Down 6.6 %

NASDAQ:BMEA traded down $0.12 during mid-day trading on Friday, hitting $1.64. The company's stock had a trading volume of 497,556 shares, compared to its average volume of 908,639. The company has a market capitalization of $61.43 million, a price-to-earnings ratio of -0.41 and a beta of -0.07. Biomea Fusion, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $13.43. The stock has a fifty day moving average of $2.19 and a 200-day moving average of $4.39.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.04. On average, equities analysts anticipate that Biomea Fusion, Inc. will post -3.93 earnings per share for the current fiscal year.

Biomea Fusion Company 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.