American International Group Inc. Makes New Investment in Biomea Fusion, Inc. (NASDAQ:BMEA)

American International Group Inc. acquired a new position in shares of Biomea Fusion, Inc. (NASDAQ:BMEA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,562 shares of the company’s stock, valued at approximately $210,000.

Other large investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new stake in Biomea Fusion during the second quarter worth approximately $78,000. UBS Group AG grew its stake in shares of Biomea Fusion by 3,980.0% during the third quarter. UBS Group AG now owns 4,080 shares of the company’s stock valued at $40,000 after buying an additional 3,980 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new position in shares of Biomea Fusion during the first quarter valued at approximately $238,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Biomea Fusion during the first quarter valued at approximately $248,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Biomea Fusion by 553.8% during the third quarter. Tower Research Capital LLC TRC now owns 8,382 shares of the company’s stock valued at $82,000 after buying an additional 7,100 shares during the last quarter. 93.68% of the stock is owned by institutional investors.

Biomea Fusion Stock Down 0.8 %

Biomea Fusion stock opened at $10.32 on Tuesday. The business has a fifty day moving average of $11.67 and a two-hundred day moving average of $20.56. The firm has a market cap of $368.49 million, a P/E ratio of -3.09 and a beta of -0.95. Biomea Fusion, Inc. has a twelve month low of $6.04 and a twelve month high of $43.69.

Biomea Fusion (NASDAQ:BMEA) last posted its earnings results on Monday, October 30th. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.03. Equities analysts expect that Biomea Fusion, Inc. will post -3.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on BMEA. Scotiabank began coverage on Biomea Fusion in a research note on Thursday, July 27th. They set an “outperform” rating and a $41.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $50.00 price target on shares of Biomea Fusion in a report on Tuesday, August 1st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Biomea Fusion has a consensus rating of “Moderate Buy” and an average target price of $43.88.

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, an orally bioavailable, potent, and selective covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.