D. E. Shaw & Co. Inc. Acquires New Shares in Biomea Fusion, Inc. (NASDAQ:BMEA)

D. E. Shaw & Co. Inc. bought a new stake in Biomea Fusion, Inc. (NASDAQ:BMEA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 116,653 shares of the company’s stock, valued at approximately $453,000. D. E. Shaw & Co. Inc. owned approximately 0.32% of Biomea Fusion at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of BMEA. Bayesian Capital Management LP acquired a new position in Biomea Fusion in the 4th quarter valued at $42,000. Wells Fargo & Company MN boosted its holdings in Biomea Fusion by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,914 shares of the company’s stock valued at $50,000 after acquiring an additional 4,399 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Biomea Fusion in the fourth quarter valued at about $54,000. SG Americas Securities LLC bought a new position in shares of Biomea Fusion in the fourth quarter worth about $58,000. Finally, Maia Wealth LLC bought a new position in shares of Biomea Fusion in the fourth quarter worth about $62,000. 96.72% of the stock is owned by institutional investors and hedge funds.

Biomea Fusion Stock Up 2.1%

NASDAQ:BMEA opened at $1.48 on Monday. Biomea Fusion, Inc. has a twelve month low of $1.36 and a twelve month high of $13.07. The stock’s 50-day simple moving average is $1.95 and its 200 day simple moving average is $3.63. The firm has a market capitalization of $55.61 million, a PE ratio of -0.37 and a beta of -0.07.

Biomea Fusion (NASDAQ:BMEA) last posted its earnings results on Monday, May 5th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.04. On average, analysts anticipate that Biomea Fusion, Inc. will post -3.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on BMEA. D. Boral Capital reiterated a “buy” rating and set a $16.00 price target on shares of Biomea Fusion in a report on Thursday, May 15th. Oppenheimer set a $10.00 target price on shares of Biomea Fusion in a research note on Monday, March 24th. HC Wainwright reduced their price target on shares of Biomea Fusion from $40.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. Finally, Barclays dropped their price objective on shares of Biomea Fusion from $11.00 to $3.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Biomea Fusion has a consensus rating of “Buy” and a consensus price target of $22.60.

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.