DRW Securities LLC Takes Position in Biomea Fusion, Inc. (NASDAQ:BMEA)

DRW Securities LLC acquired a new position in Biomea Fusion, Inc. (NASDAQ:BMEA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,203 shares of the company’s stock, valued at approximately $55,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. High Net Worth Advisory Group LLC bought a new position in shares of Biomea Fusion in the 2nd quarter valued at about $45,000. Quest Partners LLC acquired a new position in Biomea Fusion in the fourth quarter valued at approximately $79,000. Centaurus Financial Inc. acquired a new position in Biomea Fusion in the fourth quarter valued at approximately $102,000. China Universal Asset Management Co. Ltd. boosted its stake in Biomea Fusion by 66.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 6,862 shares of the company’s stock valued at $103,000 after acquiring an additional 2,731 shares during the last quarter. Finally, PNC Financial Services Group Inc. acquired a new stake in Biomea Fusion during the 4th quarter worth $116,000. 96.72% of the stock is currently owned by institutional investors and hedge funds.

Biomea Fusion Stock Performance

Shares of BMEA opened at $8.00 on Wednesday. The firm’s 50 day moving average price is $6.64 and its two-hundred day moving average price is $9.04. Biomea Fusion, Inc. has a twelve month low of $3.61 and a twelve month high of $22.74. The firm has a market cap of $287.56 million, a P/E ratio of -2.24 and a beta of -0.47.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($1.03) EPS for the quarter, meeting the consensus estimate of ($1.03). On average, sell-side analysts anticipate that Biomea Fusion, Inc. will post -4.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on BMEA. Truist Financial downgraded Biomea Fusion from a “buy” rating to a “hold” rating in a research note on Tuesday, June 11th. HC Wainwright restated a “buy” rating and set a $15.00 target price on shares of Biomea Fusion in a research report on Thursday, August 1st. Oppenheimer cut their price target 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, May 30th. Barclays cut shares of Biomea Fusion from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $30.00 to $5.00 in a report on Friday, June 7th. Finally, Capital One Financial assumed coverage on shares of Biomea Fusion in a report on Thursday, August 29th. They issued an “overweight” rating and a $25.00 target price on the stock. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Biomea Fusion has a consensus rating of “Moderate Buy” and an average price target of $25.33.

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.