Michael J.M. Hitchcock Acquires 10,000 Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) Stock

Biomea Fusion, Inc. (NASDAQ:BMEA) Director Michael J.M. Hitchcock bought 10,000 shares of the business’s 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 transaction, the director now directly owns 15,000 shares in the company, valued at $150,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Biomea Fusion Stock Up 6.6 %

BMEA stock opened at $10.13 on Thursday. The company has a market cap of $364.12 million, a P/E ratio of -2.84 and a beta of -0.47. Biomea Fusion, Inc. has a twelve month low of $3.61 and a twelve month high of $22.74. The business has a fifty day moving average of $7.16 and a 200-day moving average of $8.80.

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

Analyst Ratings Changes

A number of equities analysts have commented on the company. RODMAN&RENSHAW raised Biomea Fusion to a “strong-buy” rating in a research note on Thursday, September 26th. Rodman & Renshaw raised Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Thursday, September 26th. Truist Financial raised Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Friday, September 27th. Capital One Financial assumed coverage on Biomea Fusion in a research note on Thursday, August 29th. They issued an “overweight” rating and a $25.00 price objective on the stock. Finally, Barclays boosted their price objective on Biomea Fusion from $5.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Biomea Fusion has an average rating of “Moderate Buy” and an average target price of $29.40.

Institutional Investors Weigh In On Biomea Fusion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMEA. Bellevue Group AG bought a new stake in Biomea Fusion in the fourth quarter valued at about $363,000. Centaurus Financial Inc. bought a new stake in Biomea Fusion in the fourth quarter valued at about $102,000. PNC Financial Services Group Inc. bought a new stake in Biomea Fusion in the fourth quarter valued at about $116,000. Griffin Asset Management Inc. increased its holdings in Biomea Fusion by 39.4% in the first quarter. Griffin Asset Management Inc. now owns 37,890 shares of the company’s stock valued at $566,000 after purchasing an additional 10,700 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Biomea Fusion by 66.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 6,862 shares of the company’s stock valued at $103,000 after purchasing an additional 2,731 shares during the last quarter. Institutional investors own 96.72% of the company’s stock.

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.