Biomea Fusion, Inc. (NASDAQ:BMEA) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $28.25.

A number of research firms have commented on BMEA. Scotiabank reduced their price objective on shares of Biomea Fusion from $41.00 to $21.00 and set a “sector outperform” rating on the stock in a research note on Friday, June 7th. Piper Sandler reduced their price target on shares of Biomea Fusion from $45.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, June 7th. Truist Financial lowered Biomea Fusion from a “buy” rating to a “hold” rating in a report on Tuesday, June 11th. Citigroup reduced their target price on Biomea Fusion from $90.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Finally, HC Wainwright lowered their price target on Biomea Fusion from $50.00 to $15.00 and set a “buy” rating for the company in a report on Friday, June 7th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BMEA. Price T Rowe Associates Inc. MD lifted its stake in Biomea Fusion by 0.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 177,602 shares of the company’s stock valued at $2,656,000 after buying an additional 1,028 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Biomea Fusion by 12.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,513 shares of the company’s stock valued at $232,000 after purchasing an additional 1,712 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Biomea Fusion by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,248 shares of the company’s stock valued at $134,000 after purchasing an additional 2,345 shares during the period. Signaturefd LLC bought a new position in Biomea Fusion in the 4th quarter worth about $36,000. Finally, China Universal Asset Management Co. Ltd. grew its position in Biomea Fusion by 66.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,862 shares of the company’s stock worth $103,000 after purchasing an additional 2,731 shares during the last quarter. Institutional investors and hedge funds own 96.72% of the company’s stock.

Biomea Fusion Stock Performance

NASDAQ:BMEA opened at $5.55 on Tuesday. Biomea Fusion has a one year low of $3.61 and a one year high of $33.00. The business’s 50-day simple moving average is $9.86 and its 200 day simple moving average is $13.62. The stock has a market cap of $199.49 million, a price-to-earnings ratio of -1.55 and a beta of -0.35.

Biomea Fusion (NASDAQ:BMEA) last announced its earnings results on Thursday, May 2nd. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.07). On average, equities research analysts predict that Biomea Fusion will post -4.09 EPS for the current 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.