Biomea Fusion (NASDAQ:BMEA) Price Target Lowered to $22.00 at Citigroup

Biomea Fusion (NASDAQ:BMEA) had its target price cut by Citigroup from $45.00 to $22.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently commented on BMEA. HC Wainwright restated a buy rating and issued a $15.00 target price on shares of Biomea Fusion in a research note on Thursday, August 1st. Truist Financial lowered Biomea Fusion from a buy rating to a hold rating in a research report on Tuesday, June 11th. Barclays lowered Biomea Fusion from an overweight rating to an equal weight rating and dropped their target price for the stock from $30.00 to $5.00 in a research report on Friday, June 7th. JPMorgan Chase & Co. boosted their price target on shares of Biomea Fusion from $14.00 to $15.00 and gave the company a neutral rating in a report on Friday, May 3rd. Finally, Scotiabank dropped 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 report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $25.38.

Biomea Fusion Trading Up 0.3 %

Shares of NASDAQ BMEA opened at $7.84 on Tuesday. The business has a 50 day simple moving average of $5.47 and a 200-day simple moving average of $10.35. Biomea Fusion has a twelve month low of $3.61 and a twelve month high of $22.74. The company has a market capitalization of $281.81 million, a price-to-earnings ratio of -2.20 and a beta of -0.52.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Wednesday, July 31st. The company reported ($1.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.03). As a group, equities analysts predict that Biomea Fusion will post -4.09 earnings per share for the current year.

Hedge Funds Weigh In On Biomea Fusion

A number of institutional investors and hedge funds have recently bought and sold shares of BMEA. Signaturefd LLC bought a new stake in shares of Biomea Fusion during the 4th quarter worth about $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Biomea Fusion during the second quarter valued at approximately $36,000. High Net Worth Advisory Group LLC acquired a new stake in Biomea Fusion in the second quarter worth approximately $45,000. Scientech Research LLC acquired a new stake in Biomea Fusion in the second quarter worth approximately $46,000. Finally, DRW Securities LLC bought a new position in Biomea Fusion during the 2nd quarter valued at $55,000. Institutional investors own 96.72% of the company’s stock.

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.