Biomea Fusion, Inc. (NASDAQ:BMEA) Shares Purchased by Griffin Asset Management Inc.

Griffin Asset Management Inc. raised its stake in shares of Biomea Fusion, Inc. (NASDAQ:BMEA) by 147.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,070 shares of the company’s stock after buying an additional 57,180 shares during the period. Griffin Asset Management Inc. owned approximately 0.27% of Biomea Fusion worth $970,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BMEA. Renaissance Technologies LLC acquired a new position in shares of Biomea Fusion in the 2nd quarter worth approximately $1,481,000. Squarepoint Ops LLC acquired a new position in shares of Biomea Fusion in the 2nd quarter worth approximately $237,000. XTX Topco Ltd acquired a new position in shares of Biomea Fusion in the 2nd quarter worth approximately $207,000. iA Global Asset Management Inc. acquired a new position in shares of Biomea Fusion in the 2nd quarter worth approximately $174,000. Finally, SG Americas Securities LLC acquired a new position in shares of Biomea Fusion in the 1st quarter worth approximately $462,000. Institutional investors and hedge funds own 96.72% of the company’s stock.

Insider Buying and Selling at Biomea Fusion

In other Biomea Fusion news, Director Michael J.M. Hitchcock bought 10,000 shares of Biomea Fusion stock in a transaction on Monday, September 30th. The stock was purchased at an average cost of $10.06 per share, for a total transaction of $100,600.00. Following the completion of the purchase, the director now directly owns 15,000 shares of the company’s stock, valued at $150,900. The trade was a 200.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 27.57% of the company’s stock.

Analyst Ratings Changes

BMEA has been the topic of several recent research reports. EF Hutton Acquisition Co. I raised shares of Biomea Fusion to a “strong-buy” rating in a research note on Wednesday, October 9th. Rodman & Renshaw upgraded shares of Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a report on Thursday, September 26th. Capital One Financial began coverage on shares of Biomea Fusion in a report on Thursday, August 29th. They issued an “overweight” rating and a $25.00 target price for the company. Scotiabank raised their target price on shares of Biomea Fusion from $21.00 to $41.00 and gave the stock a “sector outperform” rating in a report on Friday, September 27th. Finally, RODMAN&RENSHAW upgraded shares of Biomea Fusion to a “strong-buy” rating in a report on Thursday, September 26th. Two equities research 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 company’s stock. Based on data from MarketBeat, Biomea Fusion presently has a consensus rating of “Buy” and a consensus target price of $29.40.

Biomea Fusion Stock Up 5.4 %

NASDAQ BMEA opened at $10.97 on Wednesday. The stock has a market capitalization of $394.32 million, a PE ratio of -3.07 and a beta of -0.43. The company has a 50 day moving average price of $8.07 and a two-hundred day moving average price of $8.45. Biomea Fusion, Inc. has a 12-month low of $3.61 and a 12-month high of $22.74.

Biomea Fusion (NASDAQ:BMEA) last posted its earnings results on Wednesday, July 31st. The company reported ($1.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.03). As a group, equities analysts anticipate that Biomea Fusion, Inc. will post -4.09 EPS 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.