Barclays PLC Increases Stock Position in Biomea Fusion, Inc. (NASDAQ:BMEA)

Barclays PLC boosted its holdings in Biomea Fusion, Inc. (NASDAQ:BMEA) by 156.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,620 shares of the company’s stock after buying an additional 24,162 shares during the period. Barclays PLC owned approximately 0.11% of Biomea Fusion worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BMEA. Wexford Capital LP boosted its holdings in shares of Biomea Fusion by 26.9% in the third quarter. Wexford Capital LP now owns 130,336 shares of the company’s stock worth $1,316,000 after acquiring an additional 27,619 shares during the period. FMR LLC boosted its stake in Biomea Fusion by 0.7% in the 3rd quarter. FMR LLC now owns 5,431,525 shares of the company’s stock worth $54,858,000 after purchasing an additional 39,959 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Biomea Fusion during the 3rd quarter valued at about $111,000. Charles Schwab Investment Management Inc. increased its position in shares of Biomea Fusion by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 208,391 shares of the company’s stock valued at $2,105,000 after buying an additional 7,551 shares during the period. Finally, Quest Partners LLC lifted its holdings in shares of Biomea Fusion by 528.3% in the third quarter. Quest Partners LLC now owns 19,553 shares of the company’s stock worth $197,000 after buying an additional 16,441 shares in the last quarter. Institutional investors own 96.72% of the company’s stock.

Biomea Fusion Trading Up 1.1 %

BMEA opened at $3.73 on Friday. The stock has a market capitalization of $135.17 million, a P/E ratio of -0.93 and a beta of -0.53. Biomea Fusion, Inc. has a 12-month low of $3.61 and a 12-month high of $20.21. The stock has a 50-day moving average price of $6.48 and a 200-day moving average price of $6.97.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.91) EPS for the quarter, topping the consensus estimate of ($0.94) by $0.03. On average, equities research analysts predict that Biomea Fusion, Inc. will post -3.93 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on BMEA. Piper Sandler boosted their price objective on shares of Biomea Fusion from $10.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Truist Financial raised shares of Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Friday, September 27th. EF Hutton Acquisition Co. I raised shares of Biomea Fusion to a “strong-buy” rating in a report on Wednesday, October 9th. HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of Biomea Fusion in a research note on Monday, December 16th. Finally, Scotiabank upped their target price on Biomea Fusion from $21.00 to $41.00 and gave the stock a “sector outperform” rating in a research note on Friday, September 27th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Biomea Fusion has a consensus rating of “Buy” and an average target price of $39.36.

About Biomea Fusion

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.