Biomea Fusion’s (BMEA) Buy Rating Reaffirmed at HC Wainwright

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating restated by HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $40.00 price objective on the stock.

Separately, D. Boral Capital restated a “buy” rating and issued a $16.00 target price on shares of Biomea Fusion in a report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Biomea Fusion currently has a consensus rating of “Buy” and a consensus price target of $29.18.

Biomea Fusion Stock Performance

Shares of NASDAQ:BMEA opened at $2.69 on Monday. The firm has a 50 day simple moving average of $3.41 and a 200 day simple moving average of $6.10. Biomea Fusion has a 52 week low of $2.35 and a 52 week high of $16.29. The company has a market cap of $97.48 million, a PE ratio of -0.67 and a beta of -0.26.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BMEA. PNC Financial Services Group Inc. lifted its holdings in shares of Biomea Fusion by 14.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 24,005 shares of the company’s stock valued at $93,000 after buying an additional 3,005 shares during the last quarter. Wexford Capital LP raised its position in Biomea Fusion by 2.3% during the fourth quarter. Wexford Capital LP now owns 133,343 shares of the company’s stock valued at $517,000 after acquiring an additional 3,007 shares in the last quarter. Geode Capital Management LLC lifted its stake in Biomea Fusion by 0.7% in the third 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. Wells Fargo & Company MN grew its position in Biomea Fusion by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,914 shares of the company’s stock worth $50,000 after acquiring an additional 4,399 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Biomea Fusion by 27.6% during the 4th quarter. JPMorgan Chase & Co. now owns 22,535 shares of the company’s stock worth $87,000 after purchasing an additional 4,868 shares during the last quarter. 96.72% of the stock is owned by institutional investors and hedge funds.

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.