Investment Analysts’ Weekly Ratings Changes for Biomea Fusion (BMEA)

Biomea Fusion (NASDAQ: BMEA) recently received a number of ratings updates from brokerages and research firms:

• 9/27/2024 – Biomea Fusion had its price target raised by analysts at Scotiabank from $21.00 to $41.00. They now have a “sector outperform” rating on the stock.
• 9/27/2024 – Biomea Fusion had its price target raised by analysts at Barclays PLC from $5.00 to $9.00. They now have an “equal weight” rating on the stock.
• 9/27/2024 – Biomea Fusion had its price target raised by analysts at HC Wainwright from $15.00 to $40.00. They now have a “buy” rating on the stock.
• 9/27/2024 – Biomea Fusion was upgraded by analysts at Truist Financial Co. from a “hold” rating to a “buy” rating. They now have a $54.00 price target on the stock.
• 9/26/2024 – Biomea Fusion was upgraded by analysts at RODMAN&RENSHAW to a “strong-buy” rating.
• 9/26/2024 – Biomea Fusion was upgraded by analysts at Rodman & Renshaw from a “neutral” rating to a “buy” rating. They now have a $18.00 price target on the stock.
• 8/29/2024 – Biomea Fusion is now covered by analysts at Capital One Financial Co.. They set an “overweight” rating and a $25.00 price target on the stock.
• 8/27/2024 – Biomea Fusion had its price target lowered by analysts at Citigroup Inc. from $45.00 to $22.00. They now have a “buy” rating on the stock.

Biomea Fusion Stock Up 2.7 %

Shares of BMEA traded up $0.26 during mid-day trading on Wednesday, hitting $9.76. 136,931 shares of the company’s stock were exchanged, compared to its average volume of 1,047,579. The stock’s 50-day simple moving average is $7.06 and its 200-day simple moving average is $8.79. The firm has a market cap of $350.82 million, a price-to-earnings ratio of -2.73 and a beta of -0.47. Biomea Fusion, Inc. has a 52 week low of $3.61 and a 52 week high of $22.74.

Biomea Fusion (NASDAQ:BMEA) last issued 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). Analysts forecast that Biomea Fusion, Inc. will post -4.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Biomea Fusion

In other Biomea Fusion news, Director Michael J.M. Hitchcock acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average cost of $10.06 per share, with a total value of $100,600.00. Following the acquisition, the director now owns 15,000 shares in the company, valued at $150,900. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 27.57% of the company’s stock.

Institutional Investors Weigh In On Biomea Fusion

Large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its holdings in 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 valued at $2,656,000 after buying an additional 1,028 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Biomea Fusion by 12.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,513 shares of the company’s stock valued at $232,000 after purchasing an additional 1,712 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Biomea Fusion by 66.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 6,862 shares of the company’s stock valued at $103,000 after acquiring an additional 2,731 shares during the period. Centaurus Financial Inc. purchased a new stake in shares of Biomea Fusion in the fourth quarter valued at $102,000. Finally, Natixis raised its stake in shares of Biomea Fusion by 65.3% in the first quarter. Natixis now owns 19,500 shares of the company’s stock valued at $297,000 after acquiring an additional 7,700 shares during the period. Institutional investors own 96.72% of the company’s stock.

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.