HC Wainwright reissued their buy rating on shares of Biomea Fusion (NASDAQ:BMEA – Free Report) in a research report released on Thursday morning, Benzinga reports. The firm currently has a $15.00 price objective on the stock.
Several other brokerages have also recently issued reports on BMEA. Citigroup decreased their price objective on shares of Biomea Fusion from $90.00 to $45.00 and set a buy rating for the company in a report on Friday, June 7th. Truist Financial lowered Biomea Fusion from a buy rating to a hold rating in a research note on Tuesday, June 11th. Oppenheimer decreased their target price on Biomea Fusion from $70.00 to $60.00 and set an outperform rating on the stock in a report on Thursday, May 30th. JPMorgan Chase & Co. raised their price objective on Biomea Fusion from $14.00 to $15.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. Finally, Piper Sandler lowered their target price on Biomea Fusion from $45.00 to $10.00 and set an overweight rating on the stock in a research note on Friday, June 7th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $28.25.
Check Out Our Latest Report on Biomea Fusion
Biomea Fusion Stock Up 2.1 %
Biomea Fusion (NASDAQ:BMEA – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($1.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.03). Sell-side analysts anticipate that Biomea Fusion will post -4.09 earnings per share for the current fiscal year.
Institutional Trading of Biomea Fusion
A number of hedge funds have recently bought and sold shares of BMEA. Signaturefd LLC bought a new position in Biomea Fusion in the fourth quarter worth $36,000. High Net Worth Advisory Group LLC acquired a new position in Biomea Fusion in the second quarter worth $45,000. Grove Bank & Trust bought a new position in shares of Biomea Fusion in the fourth quarter worth about $56,000. China Universal Asset Management Co. Ltd. lifted its holdings in Biomea Fusion by 348.5% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,131 shares of the company’s stock worth $60,000 after buying an additional 3,210 shares in the last quarter. Finally, Quest Partners LLC bought a new position in Biomea Fusion in the fourth quarter valued at about $79,000. 96.72% of the stock is owned by institutional investors.
About Biomea Fusion
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.
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