GSA Capital Partners LLP Cuts Stake in Biomea Fusion, Inc. (NASDAQ:BMEA)

GSA Capital Partners LLP cut its stake in Biomea Fusion, Inc. (NASDAQ:BMEA) by 36.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 98,291 shares of the company’s stock after selling 57,280 shares during the period. GSA Capital Partners LLP’s holdings in Biomea Fusion were worth $993,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Biomea Fusion by 0.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 177,602 shares of the company’s stock valued at $2,656,000 after purchasing an additional 1,028 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Biomea Fusion by 12.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,513 shares of the company’s stock worth $232,000 after buying an additional 1,712 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Biomea Fusion by 64.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company’s stock valued at $70,000 after acquiring an additional 2,741 shares during the last quarter. Natixis grew its position in Biomea Fusion by 65.3% during the first quarter. Natixis now owns 19,500 shares of the company’s stock valued at $297,000 after acquiring an additional 7,700 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Biomea Fusion during the second quarter valued at about $36,000. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

Biomea Fusion Price Performance

NASDAQ:BMEA opened at $6.53 on Friday. Biomea Fusion, Inc. has a 1-year low of $3.61 and a 1-year high of $22.74. The stock has a market cap of $236.64 million, a P/E ratio of -1.63 and a beta of -0.41. The firm has a 50-day moving average of $9.51 and a two-hundred day moving average of $8.13.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.91) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.03. As a group, equities analysts expect that Biomea Fusion, Inc. will post -3.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BMEA has been the topic of several research analyst reports. Barclays lifted their price objective 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. Scotiabank boosted their price objective on shares of Biomea Fusion from $21.00 to $41.00 and gave the stock a “sector outperform” rating in a research note on Friday, September 27th. Truist Financial raised shares of 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. Citigroup reduced their target price on shares of Biomea Fusion from $45.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Finally, Rodman & Renshaw upgraded Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a report on Thursday, September 26th. Two investment 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. According to data from MarketBeat, Biomea Fusion has a consensus rating of “Buy” and an average price target of $30.50.

Insider Transactions at Biomea Fusion

In related news, Director Michael J.M. Hitchcock bought 10,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $10.06 per share, with a total value of $100,600.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $150,900. This trade represents a 200.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 27.57% of the company’s stock.

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.