Barclays PLC Purchases 24,162 Shares of Biomea Fusion, Inc. (NASDAQ:BMEA)

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

Several other institutional investors and hedge funds have also added to or reduced their stakes in BMEA. Renaissance Technologies LLC bought a new stake in Biomea Fusion during the second quarter worth about $1,481,000. Griffin Asset Management Inc. lifted its holdings in shares of Biomea Fusion by 147.0% during the third quarter. Griffin Asset Management Inc. now owns 96,070 shares of the company’s stock valued at $970,000 after purchasing an additional 57,180 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Biomea Fusion in the 2nd quarter worth approximately $237,000. XTX Topco Ltd purchased a new stake in shares of Biomea Fusion in the 2nd quarter worth approximately $207,000. Finally, FMR LLC grew its stake in shares of 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 buying an additional 39,959 shares during the last quarter. Hedge funds and other institutional investors own 96.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on BMEA shares. EF Hutton Acquisition Co. I raised Biomea Fusion to a “strong-buy” rating in a report on Wednesday, October 9th. D. Boral Capital reiterated a “buy” rating and issued a $128.00 price target on shares of Biomea Fusion in a research note on Friday, January 10th. Rodman & Renshaw raised shares of Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Thursday, September 26th. RODMAN&RENSHAW raised shares of Biomea Fusion to a “strong-buy” rating in a report on Thursday, September 26th. Finally, Barclays upped their target price on shares of Biomea Fusion from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $39.36.

Biomea Fusion Stock Down 2.2 %

Shares of Biomea Fusion stock opened at $3.97 on Friday. Biomea Fusion, Inc. has a twelve month low of $3.61 and a twelve month high of $20.21. The company’s 50 day moving average is $5.38 and its 200 day moving average is $6.94. The company has a market cap of $143.87 million, a price-to-earnings ratio of -0.99 and a beta of -0.35.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.91) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.03. Sell-side analysts expect that Biomea Fusion, Inc. will post -3.93 EPS for the current fiscal year.

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.