Biomea Fusion, Inc. (NASDAQ:BMEA) Shares Bought by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. significantly increased its stake in Biomea Fusion, Inc. by 398.2% in the first quarter, owning 594,121 shares worth approximately $1.27 million.
• Institutional investors control 96.72% of Biomea Fusion's stock, indicating strong institutional support and interest in the company.
• Biomea Fusion's stock has received mixed analyst ratings, with a range of price targets, the highest being $40.00 and the lowest at $7.00, reflecting differing expectations for its performance.

Federated Hermes Inc. grew its position in Biomea Fusion, Inc. (NASDAQ:BMEA - Free Report) by 398.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 594,121 shares of the company's stock after acquiring an additional 474,862 shares during the period. Federated Hermes Inc. owned about 1.58% of Biomea Fusion worth $1,265,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Two Sigma Investments LP raised its position in shares of Biomea Fusion by 104.4% in the fourth quarter. Two Sigma Investments LP now owns 559,930 shares of the company's stock worth $2,173,000 after acquiring an additional 286,049 shares during the period. Two Sigma Advisers LP raised its position in shares of Biomea Fusion by 290.7% in the fourth quarter. Two Sigma Advisers LP now owns 459,500 shares of the company's stock worth $1,783,000 after acquiring an additional 341,900 shares during the period. Renaissance Technologies LLC raised its position in shares of Biomea Fusion by 317.7% in the fourth quarter. Renaissance Technologies LLC now owns 343,732 shares of the company's stock worth $1,334,000 after acquiring an additional 261,432 shares during the period. Northern Trust Corp increased its stake in shares of 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 in the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Biomea Fusion during the fourth quarter worth about $914,000. Institutional investors and hedge funds own 96.72% of the company's stock.

Biomea Fusion Price Performance

NASDAQ BMEA traded down $0.09 during trading hours on Friday, hitting $1.54. 1,080,461 shares of the company's stock traded hands, compared to its average volume of 810,138. Biomea Fusion, Inc. has a 52-week low of $1.29 and a 52-week high of $13.07. The company has a market capitalization of $57.86 million, a PE ratio of -0.51 and a beta of -0.14. The firm's 50-day moving average is $1.95 and its 200-day moving average is $2.32.

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

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Oppenheimer reissued an "outperform" rating on shares of Biomea Fusion in a research note on Tuesday. Citigroup cut their target price on shares of Biomea Fusion from $22.00 to $9.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. D. Boral Capital reissued a "buy" rating and set a $16.00 target price on shares of Biomea Fusion in a research note on Wednesday. Scotiabank cut their target price on shares of Biomea Fusion from $30.00 to $10.00 and set a "sector outperform" rating for the company in a research note on Wednesday. Finally, Piper Sandler assumed coverage on shares of Biomea Fusion in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $7.00 target price for the company. One analyst has rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $17.00.

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.