Marshall Wace LLP Reduces Position in Biomea Fusion, Inc. (NASDAQ:BMEA)

Marshall Wace LLP cut its holdings in Biomea Fusion, Inc. (NASDAQ:BMEA - Free Report) by 49.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,313 shares of the company's stock after selling 121,412 shares during the period. Marshall Wace LLP owned about 0.34% of Biomea Fusion worth $478,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Wells Fargo & Company MN grew its position in Biomea Fusion by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,914 shares of the company's stock worth $50,000 after acquiring an additional 4,399 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Biomea Fusion in the 4th quarter valued at approximately $54,000. SG Americas Securities LLC bought a new stake in shares of Biomea Fusion in the 4th quarter valued at approximately $58,000. Maia Wealth LLC purchased a new position in shares of Biomea Fusion in the 4th quarter worth approximately $62,000. Finally, JPMorgan Chase & Co. increased its position in shares of Biomea Fusion by 27.6% during the 4th quarter. JPMorgan Chase & Co. now owns 22,535 shares of the company's stock valued at $87,000 after purchasing an additional 4,868 shares during the last quarter. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

Biomea Fusion Stock Up 1.8 %

Shares of NASDAQ BMEA traded up $0.03 during trading hours on Thursday, hitting $1.73. 154,204 shares of the stock were exchanged, compared to its average volume of 907,597. Biomea Fusion, Inc. has a 12 month low of $1.53 and a 12 month high of $13.43. The firm has a fifty day moving average price of $2.20 and a 200-day moving average price of $4.46. The company has a market cap of $65.00 million, a PE ratio of -0.43 and a beta of -0.07.

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

Analyst Ratings Changes

Several research analysts have commented on BMEA shares. HC Wainwright dropped their price objective on shares of Biomea Fusion from $40.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday. D. Boral Capital reissued a "buy" rating and issued a $16.00 price objective on shares of Biomea Fusion in a research report on Tuesday. Oppenheimer set a $10.00 target price on Biomea Fusion in a research report on Monday, March 24th. Finally, Barclays reduced 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. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Biomea Fusion presently has a consensus rating of "Buy" and a consensus price target of $22.60.

About Biomea Fusion

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.