Walleye Capital LLC Buys New Position in Biomea Fusion, Inc. (NASDAQ:BMEA)

Walleye Capital LLC bought a new stake in Biomea Fusion, Inc. (NASDAQ:BMEA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 235,680 shares of the company's stock, valued at approximately $914,000. Walleye Capital LLC owned approximately 0.65% of Biomea Fusion as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of BMEA. PNC Financial Services Group Inc. grew its holdings in shares of Biomea Fusion by 14.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 24,005 shares of the company's stock valued at $93,000 after purchasing an additional 3,005 shares during the last quarter. Geode Capital Management LLC lifted its stake in Biomea Fusion by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 601,479 shares of the company's stock valued at $6,076,000 after purchasing an additional 4,291 shares during the last quarter. Wells Fargo & Company MN boosted its position in Biomea Fusion by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,914 shares of the company's stock valued at $50,000 after buying an additional 4,399 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Biomea Fusion by 27.6% during the fourth quarter. JPMorgan Chase & Co. now owns 22,535 shares of the company's stock worth $87,000 after buying an additional 4,868 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Biomea Fusion by 18.4% during the fourth quarter. Barclays PLC now owns 46,904 shares of the company's stock worth $182,000 after buying an additional 7,284 shares in the last quarter. Institutional investors own 96.72% of the company's stock.

Biomea Fusion Stock Performance

Shares of NASDAQ BMEA traded down $0.11 during trading on Friday, hitting $2.19. 745,392 shares of the company traded hands, compared to its average volume of 907,104. Biomea Fusion, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $13.43. The firm has a market capitalization of $82.28 million, a price-to-earnings ratio of -0.55 and a beta of -0.07. The business's fifty day moving average is $2.42 and its 200 day moving average is $5.02.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last released its quarterly earnings data on Monday, March 31st. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.19. On average, analysts predict that Biomea Fusion, Inc. will post -3.93 EPS for the current year.

Wall Street Analysts Forecast Growth

BMEA has been the topic of a number of research reports. Oppenheimer set a $10.00 price objective on Biomea Fusion in a research report on Monday, March 24th. Barclays cut their target price on shares of Biomea Fusion from $11.00 to $3.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 2nd. D. Boral Capital reiterated a "buy" rating and set a $16.00 price target on shares of Biomea Fusion in a report on Wednesday, March 19th. Finally, HC Wainwright restated a "buy" rating and issued a $40.00 price objective on shares of Biomea Fusion in a report on Monday, March 31st. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $23.91.

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.