Insider Buying: Biomea Fusion (NASDAQ:BMEA) Insider Acquires 30,000 Shares of Stock

Biomea Fusion, Inc. (NASDAQ:BMEA) insider Rainer Erdtmann bought 30,000 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were acquired at an average price of $1.43 per share, with a total value of $42,900.00. Following the completion of the acquisition, the insider directly owned 723,027 shares in the company, valued at $1,033,928.61. This represents a 4.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Biomea Fusion Price Performance

Shares of NASDAQ BMEA traded down $0.07 on Monday, hitting $1.34. The company’s stock had a trading volume of 1,691,072 shares, compared to its average volume of 1,498,629. The stock has a 50 day moving average of $1.37 and a 200-day moving average of $1.73. The company has a market capitalization of $94.74 million, a price-to-earnings ratio of -0.56 and a beta of -0.14. Biomea Fusion, Inc. has a 12-month low of $0.87 and a 12-month high of $6.06.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.01). Sell-side analysts expect that Biomea Fusion, Inc. will post -3.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BMEA. Citigroup dropped their price objective on Biomea Fusion from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, November 10th. D. Boral Capital lowered their price target on shares of Biomea Fusion from $16.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Jefferies Financial Group assumed coverage on shares of Biomea Fusion in a research note on Thursday, August 28th. They set a “buy” rating and a $5.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Biomea Fusion in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.88.

Institutional Investors Weigh In On Biomea Fusion

Several hedge funds have recently modified their holdings of the stock. Griffin Asset Management Inc. grew its stake in shares of Biomea Fusion by 19.5% in the third quarter. Griffin Asset Management Inc. now owns 61,300 shares of the company’s stock valued at $124,000 after buying an additional 10,000 shares in the last quarter. Scientech Research LLC acquired a new position in Biomea Fusion during the 3rd quarter worth approximately $25,000. Engineers Gate Manager LP purchased a new position in Biomea Fusion in the 2nd quarter worth approximately $26,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Biomea Fusion in the third quarter valued at approximately $32,000. Finally, Virtu Financial LLC acquired a new stake in Biomea Fusion in the third quarter valued at approximately $39,000. 96.72% of the stock is owned by institutional investors and hedge funds.

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.