Biomea Fusion, Inc. (NASDAQ:BMEA) Given Average Recommendation of “Moderate Buy” by Analysts

Biomea Fusion, Inc. (NASDAQ:BMEA) has been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $52.00.

A number of research firms recently commented on BMEA. Truist Financial reiterated a “buy” rating and issued a $55.00 price objective on shares of Biomea Fusion in a report on Monday, April 1st. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Biomea Fusion in a report on Friday, May 3rd. JPMorgan Chase & Co. upped their price objective on Biomea Fusion from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Finally, Oppenheimer decreased their price objective on Biomea Fusion from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th.

Institutional Trading of Biomea Fusion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMEA. Barclays PLC raised its position in Biomea Fusion by 73.7% in the third quarter. Barclays PLC now owns 116,621 shares of the company’s stock valued at $1,605,000 after purchasing an additional 49,485 shares during the period. Citigroup Inc. raised its position in Biomea Fusion by 113.8% in the third quarter. Citigroup Inc. now owns 116,134 shares of the company’s stock valued at $1,598,000 after purchasing an additional 61,810 shares during the period. E Fund Management Co. Ltd. purchased a new stake in shares of Biomea Fusion during the third quarter worth $165,000. Rafferty Asset Management LLC increased its position in shares of Biomea Fusion by 70.8% during the third quarter. Rafferty Asset Management LLC now owns 233,848 shares of the company’s stock worth $3,218,000 after acquiring an additional 96,945 shares during the period. Finally, FMR LLC increased its position in shares of Biomea Fusion by 0.6% during the third quarter. FMR LLC now owns 5,344,191 shares of the company’s stock worth $73,536,000 after acquiring an additional 34,026 shares during the period. Hedge funds and other institutional investors own 96.72% of the company’s stock.

Biomea Fusion Price Performance

Shares of Biomea Fusion stock opened at $11.27 on Friday. The stock has a market cap of $405.04 million, a P/E ratio of -3.16 and a beta of -0.35. The stock’s 50 day simple moving average is $11.85 and its 200-day simple moving average is $14.32. Biomea Fusion has a 1-year low of $8.13 and a 1-year high of $43.69.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Thursday, May 2nd. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.07). As a group, research analysts expect that Biomea Fusion will post -4.12 EPS for the current fiscal 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.