Biomea Fusion, Inc. (NASDAQ:BMEA) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $25.33.

A number of equities analysts have weighed in on BMEA shares. Citigroup decreased their price target on shares of Biomea Fusion from $45.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of Biomea Fusion in a report on Thursday, August 1st. Barclays lowered Biomea Fusion from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $30.00 to $5.00 in a research note on Friday, June 7th. Capital One Financial assumed coverage on Biomea Fusion in a research note on Thursday, August 29th. They issued an “overweight” rating and a $25.00 price objective on the stock. Finally, Piper Sandler dropped their target price on shares of Biomea Fusion from $45.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, June 7th.

Hedge Funds Weigh In On Biomea Fusion

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC acquired a new position in Biomea Fusion in the 2nd quarter worth $1,481,000. Squarepoint Ops LLC acquired a new position in shares of Biomea Fusion in the second quarter worth about $237,000. XTX Topco Ltd purchased a new position in Biomea Fusion in the second quarter valued at about $207,000. iA Global Asset Management Inc. acquired a new stake in Biomea Fusion during the 2nd quarter valued at approximately $174,000. Finally, SG Americas Securities LLC acquired a new stake in Biomea Fusion during the 1st quarter valued at approximately $462,000. 96.72% of the stock is owned by institutional investors and hedge funds.

Biomea Fusion Trading Down 7.0 %

Biomea Fusion stock opened at $7.08 on Friday. The stock has a fifty day moving average price of $5.86 and a 200 day moving average price of $9.84. Biomea Fusion has a 52 week low of $3.61 and a 52 week high of $22.74. The firm has a market capitalization of $254.49 million, a P/E ratio of -1.98 and a beta of -0.47.

Biomea Fusion (NASDAQ:BMEA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($1.03) earnings per share for the quarter, hitting the consensus estimate of ($1.03). As a group, equities analysts predict that Biomea Fusion will post -4.09 EPS for the current year.

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.