270,087 Shares in Biomea Fusion, Inc. $BMEA Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired 270,087 shares of Biomea Fusion, Inc. ($BMEA), valued at approximately $575,000, representing about 0.72% ownership of the company.
• Multiple hedge funds, including Bank of America and Oppenheimer, have significantly increased their holdings in Biomea Fusion, indicating growing institutional interest in the stock.
• Biomea Fusion's stock price has experienced volatility, currently trading at $1.92, with a 12-month high of $13.07 and a consensus analyst rating of "Buy."

Nuveen LLC purchased a new stake in Biomea Fusion, Inc. (NASDAQ:BMEA - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 270,087 shares of the company's stock, valued at approximately $575,000. Nuveen LLC owned 0.72% of Biomea Fusion at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BMEA. Bayesian Capital Management LP purchased a new stake in shares of Biomea Fusion in the fourth quarter worth $42,000. Wells Fargo & Company MN lifted its stake in Biomea Fusion by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 12,914 shares of the company's stock valued at $50,000 after acquiring an additional 4,399 shares during the period. CWM LLC increased its holdings in Biomea Fusion by 8,058.5% in the 1st quarter. CWM LLC now owns 16,888 shares of the company's stock worth $36,000 after acquiring an additional 16,681 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Biomea Fusion in the first quarter valued at about $37,000. Finally, Corton Capital Inc. acquired a new position in Biomea Fusion in the fourth quarter valued at about $105,000. 96.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup reduced 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. Piper Sandler began coverage on Biomea Fusion in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $7.00 price objective for the company. Jefferies Financial Group started coverage on Biomea Fusion in a research note on Thursday, August 28th. They set a "buy" rating and a $5.00 target price for the company. Oppenheimer reiterated an "outperform" rating on shares of Biomea Fusion in a research report on Tuesday, August 5th. Finally, D. Boral Capital reiterated a "buy" rating and issued a $16.00 price objective on shares of Biomea Fusion in a report on Wednesday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Biomea Fusion currently has a consensus rating of "Buy" and a consensus target price of $14.80.

Biomea Fusion Stock Performance

BMEA stock traded down $0.09 during mid-day trading on Monday, reaching $1.83. 459,513 shares of the stock traded hands, compared to its average volume of 1,311,657. The business has a 50-day moving average price of $1.78 and a two-hundred day moving average price of $2.01. The stock has a market capitalization of $109.14 million, a PE ratio of -0.60 and a beta of -0.13. Biomea Fusion, Inc. has a one year low of $1.29 and a one year high of $13.07.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.51) earnings per share for the quarter, beating analysts' consensus estimates of ($0.59) by $0.08. On average, equities analysts expect 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.