Barclays PLC Raises Holdings in Biomea Fusion, Inc. (NASDAQ:BMEA)

Barclays PLC increased its stake in shares of Biomea Fusion, Inc. (NASDAQ:BMEA) by 156.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,620 shares of the company’s stock after acquiring an additional 24,162 shares during the quarter. Barclays PLC’s holdings in Biomea Fusion were worth $401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Biomea Fusion in the second quarter worth approximately $36,000. Scientech Research LLC bought a new stake in Biomea Fusion in the 2nd quarter worth $46,000. DRW Securities LLC purchased a new position in shares of Biomea Fusion in the second quarter valued at about $55,000. China Universal Asset Management Co. Ltd. increased its position in shares of Biomea Fusion by 64.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company’s stock valued at $70,000 after acquiring an additional 2,741 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Biomea Fusion during the second quarter valued at about $109,000. 96.72% of the stock is owned by hedge funds and other institutional investors.

Biomea Fusion Price Performance

NASDAQ:BMEA opened at $3.73 on Friday. The firm’s 50-day moving average price is $6.48 and its 200-day moving average price is $6.97. The company has a market capitalization of $135.17 million, a PE ratio of -0.93 and a beta of -0.53. Biomea Fusion, Inc. has a 1-year low of $3.61 and a 1-year high of $20.21.

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

Analysts Set New Price Targets

BMEA has been the topic of a number of research analyst reports. Barclays boosted their price target on Biomea Fusion from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Rodman & Renshaw raised Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Thursday, September 26th. EF Hutton Acquisition Co. I raised Biomea Fusion to a “strong-buy” rating in a research note on Wednesday, October 9th. Truist Financial raised shares of Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Friday, September 27th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $128.00 target price on shares of Biomea Fusion in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus 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.