Biomea Fusion’s (BMEA) “Buy” Rating Reaffirmed at D. Boral Capital

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating restated by equities research analysts at D. Boral Capital in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $16.00 price objective on the stock. D. Boral Capital’s target price would indicate a potential upside of 477.62% from the stock’s current price.

Separately, HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Biomea Fusion in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $29.18.

Biomea Fusion Stock Up 1.5 %

Shares of Biomea Fusion stock opened at $2.77 on Wednesday. Biomea Fusion has a 52 week low of $2.35 and a 52 week high of $17.25. The business’s fifty day simple moving average is $3.49 and its 200-day simple moving average is $6.21. The firm has a market cap of $100.38 million, a PE ratio of -0.69 and a beta of -0.26.

Hedge Funds Weigh In On Biomea Fusion

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wexford Capital LP boosted its stake in shares of Biomea Fusion by 2.3% in the 4th quarter. Wexford Capital LP now owns 133,343 shares of the company’s stock valued at $517,000 after buying an additional 3,007 shares during the period. Two Sigma Advisers LP boosted its stake in shares of Biomea Fusion by 290.7% in the 4th quarter. Two Sigma Advisers LP now owns 459,500 shares of the company’s stock valued at $1,783,000 after buying an additional 341,900 shares during the period. Two Sigma Investments LP boosted its stake in shares of Biomea Fusion by 104.4% in the 4th quarter. Two Sigma Investments LP now owns 559,930 shares of the company’s stock valued at $2,173,000 after buying an additional 286,049 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Biomea Fusion in the 4th quarter valued at about $766,000. Finally, Graham Capital Management L.P. purchased a new position in shares of Biomea Fusion in the 4th quarter valued at about $307,000. 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.