Oppenheimer & Co. Inc. Sells 3,953 Shares of Biomea Fusion, Inc. (NASDAQ:BMEA)

Oppenheimer & Co. Inc. cut its stake in Biomea Fusion, Inc. (NASDAQ:BMEA) by 4.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 87,569 shares of the company’s stock after selling 3,953 shares during the period. Oppenheimer & Co. Inc.’s holdings in Biomea Fusion were worth $884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Biomea Fusion during the 2nd quarter worth approximately $36,000. High Net Worth Advisory Group LLC acquired a new stake in shares of Biomea Fusion during the second quarter worth $45,000. Scientech Research LLC bought a new stake in shares of Biomea Fusion in the second quarter valued at about $46,000. DRW Securities LLC acquired a new position in shares of Biomea Fusion in the second quarter valued at about $55,000. Finally, China Universal Asset Management Co. Ltd. increased its position in Biomea Fusion by 64.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company’s stock worth $70,000 after acquiring an additional 2,741 shares during the period. Institutional investors and hedge funds own 96.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on BMEA. HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of Biomea Fusion in a report on Thursday, October 31st. Rodman & Renshaw raised Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Thursday, September 26th. Citigroup cut their target price on Biomea Fusion from $45.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Capital One Financial assumed coverage on Biomea Fusion in a research report on Thursday, August 29th. They issued an “overweight” rating and a $25.00 price target on the stock. Finally, Barclays boosted their price target on Biomea Fusion from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $30.50.

Insider Buying and Selling at Biomea Fusion

In other Biomea Fusion news, Director Michael J.M. Hitchcock acquired 10,000 shares of Biomea Fusion stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average price of $10.06 per share, with a total value of $100,600.00. Following the completion of the purchase, the director now directly owns 15,000 shares in the company, valued at $150,900. This trade represents a 200.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 27.57% of the company’s stock.

Biomea Fusion Stock Down 0.2 %

NASDAQ BMEA opened at $6.42 on Wednesday. Biomea Fusion, Inc. has a twelve month low of $3.61 and a twelve month high of $22.74. The business’s fifty day moving average is $9.48 and its 200 day moving average is $8.01. The company has a market cap of $232.65 million, a price-to-earnings ratio of -1.60 and a beta of -0.41.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.03. On average, research analysts anticipate that Biomea Fusion, Inc. will post -3.93 earnings per share 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.