BlackRock Inc. purchased a new position in Biomea Fusion, Inc. (NASDAQ:BMEA - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 715,445 shares of the company's stock, valued at approximately $1,052,000. BlackRock Inc. owned 0.99% of Biomea Fusion at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of BMEA. AQR Capital Management LLC raised its stake in Biomea Fusion by 670.5% during the 1st quarter. AQR Capital Management LLC now owns 264,028 shares of the company's stock worth $562,000 after acquiring an additional 229,763 shares during the period. Bridgeway Capital Management LLC increased its stake 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 worth $127,000 after purchasing an additional 35,000 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Biomea Fusion in the second quarter worth $26,000. Vanguard Group Inc. raised its position in shares of Biomea Fusion by 15.4% during the 3rd 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 raised its position 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 valued at $1,137,000 after purchasing an additional 213,321 shares during the period. Hedge funds and other institutional investors own 96.72% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on BMEA. HC Wainwright restated a "buy" rating on shares of Biomea Fusion in a research note on Monday, August 24th. Wall Street Zen lowered Biomea Fusion from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Weiss Ratings cut Biomea Fusion from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, July 1st. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $9.00.
Read Our Latest Stock Analysis on Biomea Fusion
Biomea Fusion Price Performance
Shares of BMEA stock opened at $2.03 on Monday. The company's fifty day simple moving average is $1.40 and its two-hundred day simple moving average is $1.42. Biomea Fusion, Inc. has a 52 week low of $0.87 and a 52 week high of $2.99. The stock has a market cap of $147.13 million, a P/E ratio of -7.00 and a beta of -0.23.
Biomea Fusion (NASDAQ:BMEA - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.10. On average, analysts anticipate that Biomea Fusion, Inc. will post -0.73 EPS for the current fiscal year.
Biomea Fusion Company Profile
(
Free Report)
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.
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