Two Sigma Investments LP Purchases 286,049 Shares of Biomea Fusion, Inc. (NASDAQ:BMEA)

Two Sigma Investments LP increased its position in shares of Biomea Fusion, Inc. (NASDAQ:BMEA - Free Report) by 104.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 559,930 shares of the company's stock after purchasing an additional 286,049 shares during the quarter. Two Sigma Investments LP owned approximately 1.55% of Biomea Fusion worth $2,173,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Biomea Fusion during the fourth quarter worth $58,000. Maia Wealth LLC purchased a new position in Biomea Fusion in the 4th quarter valued at $62,000. PNC Financial Services Group Inc. raised its holdings in Biomea Fusion by 14.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 24,005 shares of the company's stock worth $93,000 after purchasing an additional 3,005 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Biomea Fusion in the 4th quarter valued at approximately $54,000. Finally, Virtu Financial LLC purchased a new stake in shares of Biomea Fusion during the 4th quarter worth $103,000. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

Biomea Fusion Stock Performance

Shares of BMEA traded up $0.94 during mid-day trading on Tuesday, hitting $2.49. The company's stock had a trading volume of 63,119,989 shares, compared to its average volume of 1,152,124. The stock's 50-day moving average is $1.80 and its two-hundred day moving average is $3.38. Biomea Fusion, Inc. has a one year low of $1.29 and a one year high of $13.07. The firm has a market capitalization of $93.55 million, a PE ratio of -0.62 and a beta of -0.07.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.04. Analysts expect that Biomea Fusion, Inc. will post -3.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Oppenheimer set a $10.00 price target on Biomea Fusion in a report on Monday, March 24th. D. Boral Capital reiterated a "buy" rating and issued a $16.00 price target on shares of Biomea Fusion in a report on Thursday, May 15th. Piper Sandler began coverage on shares of Biomea Fusion in a research report on Tuesday. They set an "overweight" rating and a $7.00 target price for the company. Barclays reduced their price objective on Biomea Fusion from $11.00 to $3.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 2nd. Finally, HC Wainwright cut their price objective on shares of Biomea Fusion from $40.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $21.40.

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.