XTX Topco Ltd Makes New Investment in Biomea Fusion, Inc. (NASDAQ:BMEA)

XTX Topco Ltd bought a new stake in shares of Biomea Fusion, Inc. (NASDAQ:BMEA) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 45,929 shares of the company’s stock, valued at approximately $207,000. XTX Topco Ltd owned 0.13% of Biomea Fusion at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. High Net Worth Advisory Group LLC purchased a new position in Biomea Fusion during the 2nd quarter worth $45,000. Centaurus Financial Inc. bought a new position in shares of Biomea Fusion during the 4th quarter worth $102,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Biomea Fusion by 66.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,862 shares of the company’s stock valued at $103,000 after buying an additional 2,731 shares during the period. PNC Financial Services Group Inc. bought a new stake in shares of Biomea Fusion in the fourth quarter valued at about $116,000. Finally, Rhumbline Advisers lifted its stake in Biomea Fusion by 29.6% in the second quarter. Rhumbline Advisers now owns 36,238 shares of the company’s stock worth $163,000 after acquiring an additional 8,272 shares during the period. 96.72% of the stock is currently owned by institutional investors.

Biomea Fusion Stock Up 3.4 %

BMEA opened at $9.90 on Monday. The firm’s 50-day moving average price is $6.89 and its 200-day moving average price is $8.90. The company has a market cap of $355.86 million, a P/E ratio of -2.77 and a beta of -0.47. Biomea Fusion, Inc. has a 52-week low of $3.61 and a 52-week high of $22.74.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Capital One Financial started coverage on shares of Biomea Fusion in a research report on Thursday, August 29th. They set an “overweight” rating and a $25.00 target price on the stock. Barclays boosted their price objective on shares of Biomea Fusion from $5.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Friday. HC Wainwright upped their target price on Biomea Fusion from $15.00 to $40.00 and gave the stock a “buy” rating in a report on Friday. Citigroup cut their price target on Biomea Fusion from $45.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Finally, Truist Financial upgraded Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Friday. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.40.

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.