Virtu Financial LLC Makes New Investment in Biomea Fusion, Inc. (NASDAQ:BMEA)

Virtu Financial LLC purchased a new stake in shares of Biomea Fusion, Inc. (NASDAQ:BMEA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,489 shares of the company’s stock, valued at approximately $103,000. Virtu Financial LLC owned about 0.07% of Biomea Fusion at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of BMEA. Charles Schwab Investment Management Inc. boosted its position in Biomea Fusion by 3.8% in the 3rd 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 last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Biomea Fusion during the third quarter valued at $111,000. FMR LLC boosted its holdings in Biomea Fusion by 0.7% in the third quarter. FMR LLC now owns 5,431,525 shares of the company’s stock valued at $54,858,000 after acquiring an additional 39,959 shares during the last quarter. Wexford Capital LP increased its position in 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 purchasing an additional 27,619 shares during the period. Finally, Barclays PLC raised its holdings in Biomea Fusion by 156.3% during the 3rd quarter. Barclays PLC now owns 39,620 shares of the company’s stock worth $401,000 after purchasing an additional 24,162 shares during the last quarter. Institutional investors and hedge funds own 96.72% of the company’s stock.

Biomea Fusion Price Performance

Shares of BMEA stock opened at $2.30 on Monday. The company has a fifty day moving average price of $3.32 and a two-hundred day moving average price of $6.00. The stock has a market cap of $83.35 million, a P/E ratio of -0.57 and a beta of -0.26. Biomea Fusion, Inc. has a one year low of $2.27 and a one year high of $16.29.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. D. Boral Capital reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Biomea Fusion in a research note on Wednesday, March 19th. Oppenheimer set a $10.00 price objective on Biomea Fusion in a research report on Monday, March 24th. Finally, HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of Biomea Fusion in a report on Monday, March 24th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Biomea Fusion has an average rating of “Buy” and a consensus price target of $24.64.

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.