Alliancebernstein L.P. Sells 6,930 Shares of Biomea Fusion, Inc. (NASDAQ:BMEA)

Alliancebernstein L.P. lowered its holdings in shares of Biomea Fusion, Inc. (NASDAQ:BMEA) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,300 shares of the company’s stock after selling 6,930 shares during the quarter. Alliancebernstein L.P.’s holdings in Biomea Fusion were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of BMEA. Intech Investment Management LLC bought a new position in Biomea Fusion during the fourth quarter valued at about $54,000. SG Americas Securities LLC bought a new position in shares of Biomea Fusion in the 4th quarter valued at approximately $58,000. Maia Wealth LLC acquired a new stake in Biomea Fusion in the 4th quarter worth approximately $62,000. JPMorgan Chase & Co. boosted its position in 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 purchasing an additional 4,868 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Biomea Fusion by 14.3% during the fourth 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. Institutional investors and hedge funds own 96.72% of the company’s stock.

Biomea Fusion Stock Performance

Shares of Biomea Fusion stock opened at $1.72 on Tuesday. Biomea Fusion, Inc. has a twelve month low of $1.53 and a twelve month high of $13.43. The firm has a market cap of $64.62 million, a P/E ratio of -0.43 and a beta of -0.07. The firm’s 50-day simple moving average is $2.51 and its 200-day simple moving average is $5.12.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Monday, March 31st. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.19. On average, equities analysts forecast that Biomea Fusion, Inc. will post -3.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on BMEA. Oppenheimer set a $10.00 price objective on shares of Biomea Fusion in a report on Monday, March 24th. Barclays lowered their price target on 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 restated a “buy” rating and set a $16.00 target price on shares of Biomea Fusion in a research note on Wednesday, March 19th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of Biomea Fusion in a research report on Monday, March 31st. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Biomea Fusion has an average rating of “Buy” and an average target price of $23.91.

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.