Biomea Fusion, Inc. (NASDAQ:BMEA) Shares Bought by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. increased its stake in shares of Biomea Fusion, Inc. (NASDAQ:BMEA) by 64.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,964 shares of the company’s stock after buying an additional 2,741 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Biomea Fusion were worth $70,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. purchased a new position in shares of Biomea Fusion in the 4th quarter valued at approximately $116,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Biomea Fusion in the 2nd quarter valued at $36,000. High Net Worth Advisory Group LLC purchased a new position in Biomea Fusion during the 2nd quarter worth $45,000. Scientech Research LLC acquired a new stake in shares of Biomea Fusion in the 2nd quarter worth $46,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Biomea Fusion in the first quarter valued at about $182,000. Institutional investors and hedge funds own 96.72% of the company’s stock.

Insider Activity

In related news, Director Michael J.M. Hitchcock acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average price of $10.06 per share, for a total transaction of $100,600.00. Following the transaction, the director now owns 15,000 shares in the company, valued at $150,900. This trade represents a 200.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 27.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BMEA. EF Hutton Acquisition Co. I upgraded shares of Biomea Fusion to a “strong-buy” rating in a research report on Wednesday, October 9th. RODMAN&RENSHAW upgraded Biomea Fusion to a “strong-buy” rating in a research note on Thursday, September 26th. 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 report on Friday, September 27th. Piper Sandler boosted their target price on shares of Biomea Fusion from $10.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Capital One Financial assumed coverage on shares of Biomea Fusion in a report on Thursday, August 29th. They issued an “overweight” rating and a $25.00 price target for the company. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $30.50.

Biomea Fusion Trading Down 9.4 %

NASDAQ:BMEA opened at $9.37 on Friday. Biomea Fusion, Inc. has a twelve month low of $3.61 and a twelve month high of $22.74. The company has a market capitalization of $339.29 million, a P/E ratio of -2.34 and a beta of -0.43. The firm has a 50-day moving average price of $9.39 and a two-hundred day moving average price of $8.36.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.94) by $0.03. On average, equities research analysts predict that Biomea Fusion, Inc. will post -4.09 earnings per share for the current 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.