Biomea Fusion, Inc. (NASDAQ:BMEA) Shares Sold by Bellevue Group AG

Bellevue Group AG lessened its holdings in Biomea Fusion, Inc. (NASDAQ:BMEA) by 28.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,800 shares of the company’s stock after selling 7,200 shares during the quarter. Bellevue Group AG’s holdings in Biomea Fusion were worth $266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Biomea Fusion during the first quarter worth about $462,000. Griffin Asset Management Inc. acquired a new stake in Biomea Fusion in the fourth quarter worth $395,000. Transcend Capital Advisors LLC bought a new stake in Biomea Fusion in the fourth quarter valued at $330,000. Vanguard Group Inc. lifted its stake in Biomea Fusion by 1.7% in the third quarter. Vanguard Group Inc. now owns 1,339,428 shares of the company’s stock valued at $18,431,000 after buying an additional 21,835 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Biomea Fusion during the first quarter valued at $182,000. 96.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on BMEA. HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of Biomea Fusion in a research note on Tuesday, June 25th. JPMorgan Chase & Co. increased their price objective on Biomea Fusion from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Scotiabank cut their target price on Biomea Fusion from $41.00 to $21.00 and set a “sector outperform” rating on the stock in a research note on Friday, June 7th. Piper Sandler lowered their price target on Biomea Fusion from $45.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, June 7th. Finally, Oppenheimer cut their price objective on shares of Biomea Fusion from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.25.

Biomea Fusion Price Performance

Biomea Fusion stock traded down $0.08 during midday trading on Monday, hitting $5.46. The company’s stock had a trading volume of 167,497 shares, compared to its average volume of 1,102,192. Biomea Fusion, Inc. has a 12 month low of $3.61 and a 12 month high of $23.03. The stock’s 50-day moving average price is $6.72 and its 200-day moving average price is $11.97.

Biomea Fusion (NASDAQ:BMEA) last released its earnings results on Thursday, May 2nd. The company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.07). As a group, sell-side analysts anticipate that Biomea Fusion, Inc. will post -4.09 EPS 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.