Heights Capital Management Inc. Reduces Stock Holdings in Biomea Fusion, Inc. $BMEA

Heights Capital Management Inc. reduced its position in shares of Biomea Fusion, Inc. (NASDAQ:BMEA) by 62.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,437,646 shares of the company’s stock after selling 2,401,703 shares during the period. Biomea Fusion accounts for about 0.8% of Heights Capital Management Inc.’s holdings, making the stock its 23rd biggest holding. Heights Capital Management Inc. owned approximately 2.03% of Biomea Fusion worth $2,904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Griffin Asset Management Inc. grew its stake in shares of Biomea Fusion by 19.5% in the 3rd quarter. Griffin Asset Management Inc. now owns 61,300 shares of the company’s stock valued at $124,000 after buying an additional 10,000 shares during the period. Scientech Research LLC acquired a new stake in shares of Biomea Fusion during the 3rd quarter worth approximately $25,000. Engineers Gate Manager LP purchased a new stake in shares of Biomea Fusion during the 2nd quarter valued at approximately $26,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Biomea Fusion during the 3rd quarter valued at approximately $32,000. Finally, Virtu Financial LLC acquired a new position in Biomea Fusion in the third quarter valued at approximately $39,000. 96.72% of the stock is currently owned by institutional investors and hedge funds.

Biomea Fusion Price Performance

Shares of BMEA opened at $1.22 on Wednesday. The firm has a 50-day simple moving average of $1.33 and a two-hundred day simple moving average of $1.46. The stock has a market cap of $86.25 million, a PE ratio of -0.51 and a beta of -0.20. Biomea Fusion, Inc. has a 1-year low of $0.87 and a 1-year high of $3.08.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. D. Boral Capital reiterated a “buy” rating and issued a $12.00 price objective on shares of Biomea Fusion in a research report on Tuesday, January 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Biomea Fusion in a research report on Wednesday, January 21st. Finally, Rodman & Renshaw started coverage on Biomea Fusion in a research note on Tuesday, January 13th. They issued a “buy” rating and a $8.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Biomea Fusion presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.78.

Biomea Fusion 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.