Biomea Fusion, Inc. $BMEA Shares Sold by Heights Capital Management Inc.

Heights Capital Management Inc. reduced its position in shares of Biomea Fusion, Inc. (NASDAQ:BMEA) by 62.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,437,646 shares of the company’s stock after selling 2,401,703 shares during the period. Biomea Fusion makes up about 0.8% of Heights Capital Management Inc.’s portfolio, making the stock its 23rd biggest holding. Heights Capital Management Inc.’s holdings in Biomea Fusion were worth $2,904,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. AQR Capital Management LLC raised its holdings in shares of Biomea Fusion by 670.5% in the 1st quarter. AQR Capital Management LLC now owns 264,028 shares of the company’s stock valued at $562,000 after buying an additional 229,763 shares during the period. XTX Topco Ltd purchased a new position in Biomea Fusion during the 2nd quarter valued at about $270,000. Scotia Capital Inc. purchased a new position in Biomea Fusion during the 2nd quarter valued at about $459,000. Aisling Capital Management LP grew its position in Biomea Fusion by 156.5% in the 2nd quarter. Aisling Capital Management LP now owns 2,048,757 shares of the company’s stock valued at $3,688,000 after acquiring an additional 1,250,000 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its position in Biomea Fusion by 99.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 70,300 shares of the company’s stock valued at $127,000 after acquiring an additional 35,000 shares in the last quarter. 96.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. D. Boral Capital reissued a “buy” rating and set a $12.00 price target on shares of Biomea Fusion in a research report on Tuesday, January 13th. Rodman & Renshaw assumed coverage on shares of Biomea Fusion in a report on Tuesday, January 13th. They issued a “buy” rating and a $8.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biomea Fusion in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.78.

Biomea Fusion Trading Down 2.4%

NASDAQ:BMEA opened at $1.22 on Wednesday. Biomea Fusion, Inc. has a 12-month low of $0.87 and a 12-month high of $3.08. The firm has a market cap of $86.25 million, a PE ratio of -0.51 and a beta of -0.20. The stock has a fifty day moving average price of $1.33 and a 200 day moving average price of $1.46.

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.