D. Boral Capital Reiterates “Buy” Rating for Biomea Fusion (NASDAQ:BMEA)

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reiterated by stock analysts at D. Boral Capital in a note issued to investors on Tuesday,Benzinga reports. They presently have a $128.00 price objective on the stock.

A number of other research analysts also recently issued reports on the stock. RODMAN&RENSHAW raised shares of Biomea Fusion to a “strong-buy” rating in a research report on Thursday, September 26th. Truist Financial raised shares of Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Friday, September 27th. Capital One Financial assumed coverage on shares of Biomea Fusion in a research report on Thursday, August 29th. They issued an “overweight” rating and a $25.00 price objective on the stock. Scotiabank lifted their price objective on shares of Biomea Fusion from $21.00 to $41.00 and gave the stock a “sector outperform” rating in a research report on Friday, September 27th. Finally, Barclays lifted their price objective on shares of Biomea Fusion from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $39.36.

Biomea Fusion Stock Performance

NASDAQ BMEA opened at $5.85 on Tuesday. The company has a market capitalization of $212.00 million, a price-to-earnings ratio of -1.46 and a beta of -0.53. The company’s 50-day simple moving average is $8.51 and its two-hundred day simple moving average is $7.31. Biomea Fusion has a one year low of $3.61 and a one year high of $20.21.

Biomea Fusion (NASDAQ:BMEA) last posted its earnings results on Tuesday, October 29th. The company reported ($0.91) EPS for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.03. Equities analysts expect that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.

Insider Activity

In other Biomea Fusion news, Director Michael J.M. Hitchcock acquired 10,000 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were acquired at an average cost of $10.06 per share, with a total value of $100,600.00. Following the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $150,900. The trade was a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 27.57% of the company’s stock.

Institutional Trading of Biomea Fusion

Large investors have recently made changes to their positions in the business. Griffin Asset Management Inc. boosted its holdings in shares of Biomea Fusion by 147.0% in the 3rd quarter. Griffin Asset Management Inc. now owns 96,070 shares of the company’s stock valued at $970,000 after acquiring an additional 57,180 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Biomea Fusion in the 2nd quarter valued at $237,000. Renaissance Technologies LLC purchased a new stake in shares of Biomea Fusion in the 2nd quarter valued at $1,481,000. Exchange Traded Concepts LLC boosted its holdings in Biomea Fusion by 62.6% during the third quarter. Exchange Traded Concepts LLC now owns 20,985 shares of the company’s stock worth $212,000 after buying an additional 8,079 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Biomea Fusion by 46.0% during the second quarter. Bank of New York Mellon Corp now owns 93,317 shares of the company’s stock worth $420,000 after buying an additional 29,400 shares in the last quarter. 96.72% of the stock is owned by hedge funds and other institutional investors.

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.