Walleye Capital LLC Trims Stock Holdings in Biomea Fusion, Inc. $BMEA

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 lowered its position in Biomea Fusion, Inc. (NASDAQ:BMEA - Free Report) by 63.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,089 shares of the company's stock after selling 148,591 shares during the quarter. Walleye Capital LLC owned approximately 0.23% of Biomea Fusion worth $186,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Nuveen LLC bought a new position in Biomea Fusion in the first quarter worth approximately $575,000. Federated Hermes Inc. grew its stake in Biomea Fusion by 398.2% in the first quarter. Federated Hermes Inc. now owns 594,121 shares of the company's stock worth $1,265,000 after purchasing an additional 474,862 shares in the last quarter. CWM LLC grew its stake in Biomea Fusion by 8,058.5% in the first quarter. CWM LLC now owns 16,888 shares of the company's stock worth $36,000 after purchasing an additional 16,681 shares in the last quarter. Cerity Partners LLC bought a new position in Biomea Fusion in the first quarter worth approximately $37,000. Finally, Oppenheimer & Co. Inc. grew its stake in Biomea Fusion by 90.0% in the first quarter. Oppenheimer & Co. Inc. now owns 165,937 shares of the company's stock worth $353,000 after purchasing an additional 78,579 shares in the last quarter. Institutional investors own 96.72% of the company's stock.

Biomea Fusion Trading Down 1.1%

Shares of BMEA traded down $0.02 during midday trading on Wednesday, hitting $1.84. 268,342 shares of the company's stock traded hands, compared to its average volume of 529,628. Biomea Fusion, Inc. has a 1 year low of $1.29 and a 1 year high of $13.07. The firm's fifty day moving average is $1.78 and its 200-day moving average is $2.00. The stock has a market capitalization of $109.50 million, a price-to-earnings ratio of -0.61 and a beta of -0.13.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BMEA. Scotiabank lowered their target price on Biomea Fusion from $30.00 to $10.00 and set a "sector outperform" rating for the company in a report on Wednesday, August 6th. Citigroup lowered their target price on Biomea Fusion from $9.00 to $7.00 and set a "buy" rating for the company in a report on Monday, August 11th. D. Boral Capital restated a "buy" rating and set a $16.00 target price on shares of Biomea Fusion in a report on Wednesday, August 6th. Jefferies Financial Group began coverage on Biomea Fusion in a report on Thursday, August 28th. They set a "buy" rating and a $5.00 target price for the company. Finally, Oppenheimer restated an "outperform" rating on shares of Biomea Fusion in a report on Tuesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $14.80.

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.