Swiss National Bank Sells 4,400 Shares of Biomea Fusion, Inc. (NASDAQ:BMEA)

Swiss National Bank lessened its stake in shares of Biomea Fusion, Inc. (NASDAQ:BMEAFree Report) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,700 shares of the company’s stock after selling 4,400 shares during the quarter. Swiss National Bank owned about 0.13% of Biomea Fusion worth $664,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Exchange Traded Concepts LLC lifted its position in Biomea Fusion by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 9,248 shares of the company’s stock valued at $134,000 after acquiring an additional 2,345 shares in the last quarter. Signaturefd LLC bought a new position in Biomea Fusion in the 4th quarter valued at about $36,000. China Universal Asset Management Co. Ltd. lifted its position in Biomea Fusion by 348.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,131 shares of the company’s stock valued at $60,000 after acquiring an additional 3,210 shares in the last quarter. Grove Bank & Trust bought a new position in Biomea Fusion in the 4th quarter valued at about $56,000. Finally, Corton Capital Inc. bought a new position in Biomea Fusion in the 3rd quarter valued at about $152,000. Institutional investors own 96.72% of the company’s stock.

Biomea Fusion Stock Up 0.6 %

Shares of BMEA stock opened at $10.52 on Friday. The company has a 50 day moving average of $12.16 and a 200-day moving average of $14.31. Biomea Fusion, Inc. has a 12-month low of $8.13 and a 12-month high of $43.69. The firm has a market cap of $378.09 million, a P/E ratio of -2.95 and a beta of -0.33.

Biomea Fusion (NASDAQ:BMEAGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.07). As a group, equities analysts expect that Biomea Fusion, Inc. will post -4.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BMEA. Truist Financial reaffirmed a “buy” rating and issued a $55.00 price target on shares of Biomea Fusion in a research report on Monday, April 1st. Oppenheimer dropped their target price on shares of Biomea Fusion from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday. HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Biomea Fusion in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Biomea Fusion from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $52.00.

View Our Latest Analysis on BMEA

About Biomea Fusion

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Biomea Fusion (NASDAQ:BMEA)

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