Biomea Fusion, Inc. (NASDAQ:BMEA) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP lowered its stake in shares of Biomea Fusion, Inc. (NASDAQ:BMEA) by 36.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 98,291 shares of the company’s stock after selling 57,280 shares during the quarter. GSA Capital Partners LLP owned about 0.27% of Biomea Fusion worth $993,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Biomea Fusion in the 2nd quarter valued at approximately $36,000. High Net Worth Advisory Group LLC purchased a new position in Biomea Fusion in the 2nd quarter valued at $45,000. Scientech Research LLC acquired a new position in Biomea Fusion in the 2nd quarter valued at $46,000. DRW Securities LLC acquired a new position in Biomea Fusion in the 2nd quarter valued at $55,000. Finally, China Universal Asset Management Co. Ltd. raised its position in Biomea Fusion by 64.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company’s stock worth $70,000 after buying an additional 2,741 shares during the last quarter. Institutional investors and hedge funds own 96.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BMEA. Scotiabank boosted their price target on shares of Biomea Fusion from $21.00 to $41.00 and gave the stock a “sector outperform” rating in a research note on Friday, September 27th. HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of Biomea Fusion in a research report on Thursday, October 31st. Truist Financial raised Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Friday, September 27th. EF Hutton Acquisition Co. I upgraded Biomea Fusion to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Piper Sandler raised their target price on Biomea Fusion from $10.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Biomea Fusion currently has an average rating of “Buy” and a consensus price target of $30.50.

Insider Buying and Selling at Biomea Fusion

In other news, Director Michael J.M. Hitchcock bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of $10.06 per share, with a total value of $100,600.00. Following the purchase, the director now owns 15,000 shares of the company’s stock, valued at $150,900. This trade represents a 200.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 27.57% of the stock is owned by insiders.

Biomea Fusion Stock Down 8.2 %

Biomea Fusion stock opened at $6.53 on Friday. The firm’s 50-day simple moving average is $9.51 and its 200 day simple moving average is $8.13. Biomea Fusion, Inc. has a 52 week low of $3.61 and a 52 week high of $22.74. The firm has a market capitalization of $236.64 million, a PE ratio of -1.63 and a beta of -0.41.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.03. On average, research analysts expect that Biomea Fusion, Inc. will post -3.93 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.