Biomea Fusion, Inc. (NASDAQ:BMEA) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE boosted its stake in Biomea Fusion, Inc. (NASDAQ:BMEA) by 98.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,180 shares of the company’s stock after acquiring an additional 25,332 shares during the quarter. Bank of America Corp DE owned about 0.14% of Biomea Fusion worth $199,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BMEA. Bayesian Capital Management LP purchased a new position in shares of Biomea Fusion in the fourth quarter valued at $42,000. Northern Trust Corp boosted its position in Biomea Fusion by 3.9% in the 4th quarter. Northern Trust Corp now owns 322,650 shares of the company’s stock valued at $1,252,000 after buying an additional 12,210 shares during the last quarter. Jump Financial LLC purchased a new position in Biomea Fusion in the 4th quarter valued at about $383,000. Walleye Capital LLC acquired a new stake in shares of Biomea Fusion during the fourth quarter valued at about $914,000. Finally, XTX Topco Ltd purchased a new stake in shares of Biomea Fusion during the fourth quarter worth about $249,000. Institutional investors and hedge funds own 96.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BMEA. Oppenheimer set a $10.00 price target on Biomea Fusion in a report on Monday, March 24th. Barclays reduced their target price on Biomea Fusion from $11.00 to $3.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 2nd. Piper Sandler began coverage on shares of Biomea Fusion in a research note on Tuesday, June 3rd. They issued an “overweight” rating and a $7.00 price target for the company. D. Boral Capital reaffirmed a “buy” rating and issued a $16.00 price target on shares of Biomea Fusion in a report on Friday. Finally, HC Wainwright reduced their price objective on shares of Biomea Fusion from $40.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $21.40.

Biomea Fusion Stock Performance

Biomea Fusion stock opened at $2.36 on Monday. Biomea Fusion, Inc. has a 1 year low of $1.29 and a 1 year high of $13.07. The firm’s 50-day moving average is $1.88 and its 200-day moving average is $3.12. The company has a market cap of $88.67 million, a P/E ratio of -0.59 and a beta of -0.23.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Monday, May 5th. The company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.04. As a group, sell-side analysts predict that Biomea Fusion, Inc. will post -3.93 earnings per share for the current 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.