Biomea Fusion, Inc. (NASDAQ:BMEA) Given Consensus Rating of “Buy” by Analysts

Biomea Fusion, Inc. (NASDAQ:BMEA) has been given an average recommendation of “Buy” by the twelve analysts that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $30.50.

BMEA has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price target on shares of Biomea Fusion in a research note on Thursday. EF Hutton Acquisition Co. I raised shares of Biomea Fusion to a “strong-buy” rating in a research note on Wednesday, October 9th. RODMAN&RENSHAW raised shares of Biomea Fusion to a “strong-buy” rating in a research note on Thursday, September 26th. Piper Sandler raised their price objective on shares of Biomea Fusion from $10.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Scotiabank lifted their target price on shares of Biomea Fusion from $21.00 to $41.00 and gave the stock a “sector outperform” rating in a report on Friday, September 27th.

Biomea Fusion Trading Down 3.5 %

BMEA opened at $9.04 on Monday. Biomea Fusion has a 1-year low of $3.61 and a 1-year high of $22.74. The firm has a 50-day moving average price of $9.41 and a two-hundred day moving average price of $8.34. The stock has a market capitalization of $327.61 million, a PE ratio of -2.25 and a beta of -0.43.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.03. On average, research analysts predict that Biomea Fusion will post -4.09 EPS for the current year.

Insider Activity

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

Institutional Trading of Biomea Fusion

Large investors have recently bought and sold shares of the business. Griffin Asset Management Inc. boosted its holdings in shares of Biomea Fusion by 147.0% in the third quarter. Griffin Asset Management Inc. now owns 96,070 shares of the company’s stock valued at $970,000 after buying an additional 57,180 shares during the period. Capstone Investment Advisors LLC acquired a new position in Biomea Fusion in the 1st quarter worth $182,000. PNC Financial Services Group Inc. acquired a new position in Biomea Fusion in the 4th quarter worth $116,000. SG Americas Securities LLC bought a new position in Biomea Fusion during the 1st quarter worth about $462,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Biomea Fusion in the 2nd quarter valued at about $237,000. 96.72% of the stock is owned by institutional investors.

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.