Transcend Capital Advisors LLC Makes New $330,000 Investment in Biomea Fusion, Inc. (NASDAQ:BMEA)

Transcend Capital Advisors LLC bought a new position in Biomea Fusion, Inc. (NASDAQ:BMEA) in the fourth quarter, HoldingsChannel.com reports. The firm bought 22,700 shares of the company’s stock, valued at approximately $330,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BMEA. Signaturefd LLC acquired a new position in shares of Biomea Fusion during the fourth quarter worth about $36,000. Grove Bank & Trust bought a new stake in Biomea Fusion in the 4th quarter valued at approximately $56,000. China Universal Asset Management Co. Ltd. boosted its position in Biomea Fusion by 348.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,131 shares of the company’s stock worth $60,000 after acquiring an additional 3,210 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Biomea Fusion by 89.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,744 shares of the company’s stock worth $65,000 after acquiring an additional 2,242 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Biomea Fusion by 93.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,903 shares of the company’s stock worth $95,000 after acquiring an additional 3,329 shares in the last quarter. Institutional investors and hedge funds own 96.72% of the company’s stock.

Wall Street Analyst Weigh In

BMEA has been the subject of several recent research reports. HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Biomea Fusion in a report on Monday, April 1st. Truist Financial reaffirmed a “buy” rating and issued a $55.00 target price on shares of Biomea Fusion in a research report on Monday, April 1st. Oppenheimer reissued an “outperform” rating and set a $70.00 price target on shares of Biomea Fusion in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $14.00 price target (down from $51.00) on shares of Biomea Fusion in a research note on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.13.

Biomea Fusion Price Performance

Shares of Biomea Fusion stock opened at $10.75 on Tuesday. The company has a market capitalization of $385.82 million, a price-to-earnings ratio of -3.11 and a beta of -0.52. The business has a fifty day simple moving average of $14.58 and a two-hundred day simple moving average of $14.10. Biomea Fusion, Inc. has a 1 year low of $8.13 and a 1 year high of $43.69.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings results on Monday, April 1st. The company reported ($0.98) earnings per share for the quarter. As a group, equities analysts anticipate that Biomea Fusion, Inc. will post -4.25 earnings per share for the current fiscal year.

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.