Intech Investment Management LLC Invests $54,000 in Biomea Fusion, Inc. (NASDAQ:BMEA)

Intech Investment Management LLC purchased a new stake in shares of Biomea Fusion, Inc. (NASDAQ:BMEA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 13,909 shares of the company’s stock, valued at approximately $54,000.

Several other institutional investors also recently bought and sold shares of BMEA. FMR LLC lifted its holdings in shares of Biomea Fusion by 0.7% during the 3rd quarter. FMR LLC now owns 5,431,525 shares of the company’s stock valued at $54,858,000 after acquiring an additional 39,959 shares in the last quarter. Wexford Capital LP raised its position in Biomea Fusion by 26.9% in the third quarter. Wexford Capital LP now owns 130,336 shares of the company’s stock valued at $1,316,000 after purchasing an additional 27,619 shares during the period. Barclays PLC lifted its stake in shares of Biomea Fusion by 156.3% during the third quarter. Barclays PLC now owns 39,620 shares of the company’s stock worth $401,000 after purchasing an additional 24,162 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Biomea Fusion during the fourth quarter worth about $58,000. Finally, Maia Wealth LLC purchased a new stake in shares of Biomea Fusion in the fourth quarter worth about $62,000. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of Biomea Fusion in a research report on Monday, March 24th. D. Boral Capital reissued a “buy” rating and set a $16.00 target price on shares of Biomea Fusion in a research report on Wednesday, March 19th. Finally, Oppenheimer set a $10.00 price target on shares of Biomea Fusion in a report on Monday. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $24.64.

Biomea Fusion Price Performance

NASDAQ BMEA opened at $2.30 on Friday. The company’s fifty day moving average price is $3.32 and its two-hundred day moving average price is $6.02. The company has a market capitalization of $83.35 million, a price-to-earnings ratio of -0.57 and a beta of -0.26. Biomea Fusion, Inc. has a 12 month low of $2.27 and a 12 month high of $16.29.

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.