Biomea Fusion (NASDAQ:BMEA) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research note published on Thursday,Benzinga reports. They currently have a $40.00 price target on the stock.

BMEA has been the topic of a number of other reports. Citigroup cut their price target on shares of Biomea Fusion from $45.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. RODMAN&RENSHAW raised shares of Biomea Fusion to a “strong-buy” rating in a research report on Thursday, September 26th. Rodman & Renshaw upgraded shares of Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Thursday, September 26th. Piper Sandler lifted their price target on shares of Biomea Fusion from $10.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, EF Hutton Acquisition Co. I upgraded Biomea Fusion to a “strong-buy” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $30.50.

Biomea Fusion Stock Up 0.9 %

NASDAQ BMEA opened at $6.44 on Thursday. Biomea Fusion has a 52 week low of $3.61 and a 52 week high of $22.74. The business’s fifty day simple moving average is $9.40 and its 200-day simple moving average is $7.89. The firm has a market cap of $233.38 million, a PE ratio of -1.61 and a beta of -0.41.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.91) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.03. Research analysts expect that Biomea Fusion will post -3.93 EPS for the current year.

Insider Buying and Selling at Biomea Fusion

In other Biomea Fusion news, Director Michael J.M. Hitchcock purchased 10,000 shares of Biomea Fusion stock in a transaction on Monday, September 30th. The shares were purchased at an average cost of $10.06 per share, with a total value of $100,600.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $150,900. This represents a 200.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 27.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On Biomea Fusion

Hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in shares of Biomea Fusion by 0.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 177,602 shares of the company’s stock worth $2,656,000 after purchasing an additional 1,028 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Biomea Fusion by 64.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company’s stock worth $70,000 after purchasing an additional 2,741 shares during the period. Geode Capital Management LLC lifted its holdings in Biomea Fusion by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 601,479 shares of the company’s stock valued at $6,076,000 after acquiring an additional 4,291 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Biomea Fusion by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 208,391 shares of the company’s stock worth $2,105,000 after buying an additional 7,551 shares in the last quarter. Finally, Natixis grew its holdings in shares of Biomea Fusion by 65.3% in the 1st quarter. Natixis now owns 19,500 shares of the company’s stock worth $297,000 after acquiring an additional 7,700 shares during the last quarter. Hedge funds and other institutional investors own 96.72% of the company’s stock.

About Biomea Fusion

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.