Mirae Asset Global Investments Co. Ltd. Sells 4,003 Shares of Biomea Fusion, Inc. (NASDAQ:BMEA)

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of Biomea Fusion, Inc. (NASDAQ:BMEA) by 22.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,801 shares of the company’s stock after selling 4,003 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Biomea Fusion were worth $200,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BMEA. Laurion Capital Management LP increased its holdings in shares of Biomea Fusion by 16.5% during the third quarter. Laurion Capital Management LP now owns 2,613,135 shares of the company’s stock valued at $35,957,000 after acquiring an additional 369,448 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Biomea Fusion by 125.0% during the third quarter. Adage Capital Partners GP L.L.C. now owns 180,000 shares of the company’s stock valued at $2,477,000 after acquiring an additional 100,000 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in shares of Biomea Fusion by 70.8% during the third quarter. Rafferty Asset Management LLC now owns 233,848 shares of the company’s stock valued at $3,218,000 after acquiring an additional 96,945 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Biomea Fusion by 113.8% during the third quarter. Citigroup Inc. now owns 116,134 shares of the company’s stock valued at $1,598,000 after acquiring an additional 61,810 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Biomea Fusion by 73.7% during the third quarter. Barclays PLC now owns 116,621 shares of the company’s stock valued at $1,605,000 after acquiring an additional 49,485 shares in the last quarter. Institutional investors own 96.72% of the company’s stock.

Biomea Fusion Trading Up 3.0 %

BMEA stock opened at $10.78 on Friday. The stock’s fifty day simple moving average is $14.72 and its two-hundred day simple moving average is $14.08. Biomea Fusion, Inc. has a 1-year low of $8.13 and a 1-year high of $43.69. The stock has a market cap of $386.88 million, a P/E ratio of -3.12 and a beta of -0.53.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings data on Monday, April 1st. The company reported ($0.98) earnings per share for the quarter. As a group, analysts forecast that Biomea Fusion, Inc. will post -4.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BMEA shares. Oppenheimer reiterated an “outperform” rating and set a $70.00 price target on shares of Biomea Fusion in a report on Wednesday, April 3rd. Truist Financial reiterated a “buy” rating and set a $55.00 price target on shares of Biomea Fusion in a report on Monday, April 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $14.00 price target (down previously from $51.00) on shares of Biomea Fusion in a report on Tuesday, April 2nd. Finally, HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Biomea Fusion in a report on Monday, April 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.13.

Biomea Fusion Company 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.