Biomea Fusion (NASDAQ:BMEA) Shares Down 3% – What’s Next?

Biomea Fusion, Inc. (NASDAQ:BMEA) shares fell 3% on Wednesday . The company traded as low as $1.26 and last traded at $1.31. Approximately 656,208 shares changed hands during trading, a decline of 48% from the average session volume of 1,265,224 shares. The stock had previously closed at $1.35.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BMEA shares. Rodman & Renshaw began coverage on shares of Biomea Fusion in a research report on Tuesday, January 13th. They set a “buy” rating and a $8.00 price objective on the stock. Citigroup dropped their price target on shares of Biomea Fusion from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. D. Boral Capital restated a “buy” rating and set a $12.00 price target on shares of Biomea Fusion in a report on Tuesday, January 13th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Biomea Fusion in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.78.

Biomea Fusion Stock Performance

The firm has a market capitalization of $92.62 million, a price-to-earnings ratio of -0.55 and a beta of -0.16. The business’s 50 day moving average is $1.32 and its 200-day moving average is $1.52.

Insider Transactions at Biomea Fusion

In other Biomea Fusion news, insider Rainer M. Erdtmann purchased 30,000 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were bought at an average cost of $1.43 per share, with a total value of $42,900.00. Following the transaction, the insider directly owned 723,027 shares in the company, valued at approximately $1,033,928.61. This represents a 4.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 18.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Biomea Fusion

Large investors have recently bought and sold shares of the stock. Aisling Capital Management LP lifted its stake in shares of Biomea Fusion by 156.5% in the second quarter. Aisling Capital Management LP now owns 2,048,757 shares of the company’s stock valued at $3,688,000 after buying an additional 1,250,000 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Biomea Fusion in the 4th quarter valued at approximately $783,000. XTX Topco Ltd lifted its position in shares of Biomea Fusion by 77.1% in the 3rd quarter. XTX Topco Ltd now owns 265,303 shares of the company’s stock worth $536,000 after acquiring an additional 115,524 shares during the period. Scientech Research LLC bought a new stake in shares of Biomea Fusion in the 3rd quarter worth approximately $25,000. Finally, Mariner LLC acquired a new stake in shares of Biomea Fusion during the 3rd quarter worth approximately $483,000. 96.72% of the stock is currently owned by institutional investors and hedge funds.

Biomea Fusion Company Profile

Biomea Fusion, Inc (NASDAQ:BMEA) is a clinical‐stage biopharmaceutical company headquartered in Carlsbad, California. The company is dedicated to the discovery and development of small molecule therapies that target epigenetic regulators implicated in cancer. By leveraging a proprietary chemistry and drug discovery platform, Biomea Fusion aims to design precision medicines that modulate gene expression pathways involved in the initiation and progression of hematological malignancies and solid tumors.

The company’s lead clinical asset, BMF-219, is an orally bioavailable inhibitor of the menin–mixed‐lineage leukemia (MLL) protein–protein interaction.