Jacobs Levy Equity Management Inc. Invests $766,000 in Biomea Fusion, Inc. (NASDAQ:BMEA)

Jacobs Levy Equity Management Inc. acquired a new stake in shares of Biomea Fusion, Inc. (NASDAQ:BMEA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 197,528 shares of the company's stock, valued at approximately $766,000. Jacobs Levy Equity Management Inc. owned about 0.55% of Biomea Fusion as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Graham Capital Management L.P. acquired a new position in shares of Biomea Fusion during the 4th quarter valued at about $307,000. D. E. Shaw & Co. Inc. acquired a new position in shares of Biomea Fusion during the 4th quarter valued at about $453,000. Corton Capital Inc. acquired a new position in shares of Biomea Fusion during the 4th quarter valued at about $105,000. Cubist Systematic Strategies LLC acquired a new position in shares of Biomea Fusion during the 4th quarter valued at about $582,000. Finally, Cantor Fitzgerald L. P. increased its holdings in shares of Biomea Fusion by 535.0% during the 4th quarter. Cantor Fitzgerald L. P. now owns 63,500 shares of the company's stock valued at $246,000 after acquiring an additional 53,500 shares during the last quarter. Institutional investors and hedge funds own 96.72% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BMEA shares. HC Wainwright lowered their price objective on Biomea Fusion from $40.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Barclays lowered their target price 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. Oppenheimer set a $10.00 target price on Biomea Fusion in a report on Monday, March 24th. Finally, D. Boral Capital reaffirmed a "buy" rating and issued a $16.00 target price on shares of Biomea Fusion in a report on Thursday, May 15th. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $22.60.

Biomea Fusion Stock Performance

Shares of NASDAQ:BMEA traded up $0.03 during trading on Friday, hitting $1.48. 475,892 shares of the stock were exchanged, compared to its average volume of 909,397. Biomea Fusion, Inc. has a 1-year low of $1.36 and a 1-year high of $13.07. The company has a market capitalization of $55.61 million, a price-to-earnings ratio of -0.37 and a beta of -0.07. The company's fifty day simple moving average is $1.95 and its 200-day simple moving average is $3.70.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.04. On average, research analysts forecast that Biomea Fusion, Inc. will post -3.93 earnings per share for the current fiscal year.

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.