Griffin Asset Management Inc. Has $566,000 Stake in Biomea Fusion, Inc. (NASDAQ:BMEA)

Griffin Asset Management Inc. raised its position in Biomea Fusion, Inc. (NASDAQ:BMEA) by 39.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,890 shares of the company’s stock after acquiring an additional 10,700 shares during the quarter. Griffin Asset Management Inc. owned approximately 0.11% of Biomea Fusion worth $566,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Signaturefd LLC acquired a new stake in Biomea Fusion in the 4th quarter valued at about $36,000. Grove Bank & Trust bought a new position in shares of Biomea Fusion during the 4th quarter worth approximately $56,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Biomea Fusion by 348.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,131 shares of the company’s stock worth $60,000 after acquiring an additional 3,210 shares during the period. Quest Partners LLC acquired a new position in shares of Biomea Fusion during the 4th quarter worth approximately $79,000. Finally, Centaurus Financial Inc. bought a new stake in Biomea Fusion in the 4th quarter valued at $102,000. Institutional investors own 96.72% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Scotiabank decreased their price objective on shares of Biomea Fusion from $41.00 to $21.00 and set a “sector outperform” rating on the stock in a report on Friday, June 7th. HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Biomea Fusion in a report on Tuesday, June 25th. Truist Financial downgraded shares of Biomea Fusion from a “buy” rating to a “hold” rating in a research report on Tuesday, June 11th. Piper Sandler decreased their target price on Biomea Fusion from $45.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, June 7th. Finally, Citigroup dropped their price target on Biomea Fusion from $90.00 to $45.00 and set a “buy” rating for the company in a report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Biomea Fusion currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.25.

Biomea Fusion Trading Down 0.7 %

Shares of BMEA stock opened at $4.50 on Friday. Biomea Fusion, Inc. has a 1 year low of $3.61 and a 1 year high of $23.92. The stock has a 50 day simple moving average of $9.33 and a 200 day simple moving average of $13.36.

Biomea Fusion (NASDAQ:BMEA) last released its earnings results on Thursday, May 2nd. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.07). On average, equities research analysts expect that Biomea Fusion, Inc. will post -4.09 earnings per share for the current 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.