Biomea Fusion’s (BMEA) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a report released on Tuesday morning, Benzinga reports. The firm currently has a $40.00 price target on the stock.

BMEA has been the topic of several other reports. Capital One Financial initiated coverage on Biomea Fusion in a report on Thursday, August 29th. They issued an “overweight” rating and a $25.00 target price on the stock. Citigroup reduced their target price on Biomea Fusion from $45.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. EF Hutton Acquisition Co. I raised Biomea Fusion to a “strong-buy” rating in a report on Wednesday, October 9th. Rodman & Renshaw raised Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Thursday, September 26th. Finally, RODMAN&RENSHAW raised Biomea Fusion to a “strong-buy” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Biomea Fusion has a consensus rating of “Buy” and a consensus target price of $29.40.

Biomea Fusion Trading Up 2.0 %

BMEA stock opened at $11.47 on Tuesday. Biomea Fusion has a 1-year low of $3.61 and a 1-year high of $22.74. The firm has a market cap of $412.29 million, a P/E ratio of -3.21 and a beta of -0.43. The business’s 50 day moving average is $8.52 and its 200-day moving average is $8.38.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($1.03) earnings per share for the quarter, meeting the consensus estimate of ($1.03). Sell-side analysts forecast that Biomea Fusion will post -4.09 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michael J.M. Hitchcock acquired 10,000 shares of Biomea Fusion stock in a transaction on Monday, September 30th. The shares were purchased at an average price of $10.06 per share, with a total value of $100,600.00. Following the acquisition, the director now owns 15,000 shares in the company, valued at $150,900. This represents a 200.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 27.57% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BMEA. Renaissance Technologies LLC acquired a new position in shares of Biomea Fusion in the 2nd quarter valued at $1,481,000. Griffin Asset Management Inc. lifted its stake in shares of Biomea Fusion by 147.0% in the 3rd quarter. Griffin Asset Management Inc. now owns 96,070 shares of the company’s stock valued at $970,000 after purchasing an additional 57,180 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Biomea Fusion in the 2nd quarter valued at $237,000. XTX Topco Ltd acquired a new position in shares of Biomea Fusion in the 2nd quarter valued at $207,000. Finally, iA Global Asset Management Inc. acquired a new position in shares of Biomea Fusion in the 2nd quarter valued at $174,000. Institutional investors and hedge funds 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.