Point72 Asia Singapore Pte. Ltd. Purchases Shares of 8,075 Biomea Fusion, Inc. (NASDAQ:BMEA)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Biomea Fusion, Inc. (NASDAQ:BMEA) in the 2nd quarter, Holdings Channel reports. The fund acquired 8,075 shares of the company’s stock, valued at approximately $36,000.

A number of other large investors have also recently made changes to their positions in BMEA. Bellevue Group AG purchased a new stake in Biomea Fusion during the 4th quarter valued at about $363,000. Centaurus Financial Inc. acquired a new stake in shares of Biomea Fusion during the fourth quarter worth about $102,000. PNC Financial Services Group Inc. purchased a new stake in Biomea Fusion in the fourth quarter valued at approximately $116,000. Griffin Asset Management Inc. increased its holdings in Biomea Fusion by 39.4% in the 1st quarter. Griffin Asset Management Inc. now owns 37,890 shares of the company’s stock worth $566,000 after buying an additional 10,700 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Biomea Fusion by 66.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,862 shares of the company’s stock worth $103,000 after buying an additional 2,731 shares during the period. 96.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BMEA shares. Barclays raised their target price on shares of Biomea Fusion from $5.00 to $9.00 and gave the stock an “equal weight” rating in a report on Friday. Scotiabank lifted their price objective on Biomea Fusion from $21.00 to $41.00 and gave the company a “sector outperform” rating in a research note on Friday. Capital One Financial began coverage on Biomea Fusion in a research note on Thursday, August 29th. They issued an “overweight” rating and a $25.00 target price on the stock. RODMAN&RENSHAW upgraded Biomea Fusion to a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Truist Financial raised 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. Two 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.40.

Biomea Fusion Price Performance

Shares of Biomea Fusion stock opened at $10.10 on Tuesday. The stock’s 50 day simple moving average is $6.99 and its 200-day simple moving average is $8.85. The stock has a market cap of $363.04 million, a P/E ratio of -2.83 and a beta of -0.47. Biomea Fusion, Inc. has a 1-year low of $3.61 and a 1-year high of $22.74.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Wednesday, July 31st. The company reported ($1.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.03). As a group, research analysts expect that Biomea Fusion, Inc. will post -4.09 EPS for the current fiscal year.

Biomea Fusion Company 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.