Renaissance Technologies LLC Purchases 834,179 Shares of Biomea Fusion, Inc. $BMEA

Renaissance Technologies LLC boosted its position in Biomea Fusion, Inc. (NASDAQ:BMEA) by 174.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,312,798 shares of the company’s stock after purchasing an additional 834,179 shares during the quarter. Renaissance Technologies LLC’s holdings in Biomea Fusion were worth $2,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Scientech Research LLC bought a new position in Biomea Fusion in the 3rd quarter valued at $25,000. Engineers Gate Manager LP bought a new position in shares of Biomea Fusion in the second quarter worth $26,000. Millennium Management LLC increased its holdings in shares of Biomea Fusion by 156.7% in the fourth quarter. Millennium Management LLC now owns 25,677 shares of the company’s stock worth $32,000 after purchasing an additional 15,675 shares during the period. Virtu Financial LLC purchased a new stake in shares of Biomea Fusion in the third quarter worth $39,000. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of Biomea Fusion in the fourth quarter worth $54,000. 96.72% of the stock is owned by institutional investors.

Biomea Fusion Stock Up 1.6%

Biomea Fusion stock opened at $1.29 on Wednesday. The firm has a fifty day simple moving average of $1.27 and a two-hundred day simple moving average of $1.38. Biomea Fusion, Inc. has a twelve month low of $0.87 and a twelve month high of $2.99. The company has a market capitalization of $93.50 million, a PE ratio of -4.45 and a beta of -0.28.

Biomea Fusion (NASDAQ:BMEA) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.10. As a group, equities analysts expect that Biomea Fusion, Inc. will post -0.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on BMEA. D. Boral Capital reissued a “buy” rating and set a $12.00 price objective on shares of Biomea Fusion in a research note on Tuesday, April 28th. Citizens Jmp began coverage on Biomea Fusion in a research note on Tuesday, May 5th. They issued a “market outperform” rating and a $9.00 target price on the stock. Wall Street Zen cut Biomea Fusion from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Citigroup initiated coverage on Biomea Fusion in a research report on Tuesday, May 5th. They set an “outperform” rating for the company. Finally, Weiss Ratings lowered Biomea Fusion from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 1st. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.20.

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.