Biomea Fusion, Inc. $BMEA Shares Sold by Walleye Capital LLC

Key Points

• Walleye Capital LLC has significantly reduced its holdings in Biomea Fusion, Inc. by 63.0% during the first quarter, now owning 87,089 shares worth $186,000.
• Institutional investors maintain a strong presence in Biomea Fusion, with 96.72% of stock owned by such entities, reflecting growing interest despite mixed analyst ratings.
• Biomea Fusion shares opened at $1.83, with a 12-month low of $1.29 and a high of $13.07, indicating significant price fluctuation over the year.

Walleye Capital LLC trimmed its position in shares of Biomea Fusion, Inc. (NASDAQ:BMEA - Free Report) by 63.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,089 shares of the company's stock after selling 148,591 shares during the quarter. Walleye Capital LLC owned 0.23% of Biomea Fusion worth $186,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BMEA. Wells Fargo & Company MN increased its stake in shares of Biomea Fusion by 51.7% during 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 during the period. Barclays PLC boosted its holdings in Biomea Fusion by 18.4% during the fourth quarter. Barclays PLC now owns 46,904 shares of the company's stock worth $182,000 after buying an additional 7,284 shares in the last quarter. Northern Trust Corp boosted its holdings 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 buying an additional 12,210 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in Biomea Fusion during the fourth quarter worth about $42,000. Finally, Bank of America Corp DE boosted its holdings in Biomea Fusion by 98.0% during the fourth quarter. Bank of America Corp DE now owns 51,180 shares of the company's stock worth $199,000 after buying an additional 25,332 shares in the last quarter. 96.72% of the stock is currently owned by institutional investors and hedge funds.

Biomea Fusion Price Performance

Shares of NASDAQ BMEA opened at $1.83 on Friday. Biomea Fusion, Inc. has a 12-month low of $1.29 and a 12-month high of $13.07. The company has a market capitalization of $108.90 million, a PE ratio of -0.60 and a beta of -0.13. The firm's 50-day moving average is $1.78 and its two-hundred day moving average is $2.05.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.08. On average, analysts forecast that Biomea Fusion, Inc. will post -3.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BMEA has been the topic of a number of research analyst reports. Citigroup decreased their price objective on shares of Biomea Fusion from $9.00 to $7.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Scotiabank decreased their price objective on shares of Biomea Fusion from $30.00 to $10.00 and set a "sector outperform" rating on the stock in a report on Wednesday, August 6th. Oppenheimer reissued an "outperform" rating on shares of Biomea Fusion in a report on Tuesday, August 5th. D. Boral Capital reissued a "buy" rating and set a $16.00 price objective on shares of Biomea Fusion in a report on Wednesday, August 6th. Finally, Piper Sandler initiated coverage on shares of Biomea Fusion in a report on Tuesday, June 3rd. They set an "overweight" rating and a $7.00 price objective on the stock. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $14.80.

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.

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