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

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $25.33.

Several research analysts have recently issued reports on BMEA shares. Truist Financial lowered Biomea Fusion from a “buy” rating to a “hold” rating in a research report on Tuesday, June 11th. Capital One Financial started coverage on Biomea Fusion in a report on Thursday, August 29th. They set an “overweight” rating and a $25.00 target price on the stock. Citigroup reduced their target price on Biomea Fusion from $45.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Oppenheimer reduced 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. Finally, HC Wainwright reiterated a “buy” rating and set a $15.00 target price on shares of Biomea Fusion in a report on Thursday, August 1st.

Biomea Fusion Stock Performance

Shares of BMEA opened at $7.85 on Friday. The firm has a market capitalization of $284.25 million, a price-to-earnings ratio of -2.20 and a beta of -0.47. The business’s fifty day moving average price is $6.18 and its two-hundred day moving average price is $9.52. Biomea Fusion has a 52 week low of $3.61 and a 52 week high of $22.74.

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

Institutional Trading of Biomea Fusion

Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC acquired a new stake in shares of Biomea Fusion in the second quarter valued at about $1,481,000. Squarepoint Ops LLC acquired a new stake in shares of Biomea Fusion in the second quarter valued at about $237,000. XTX Topco Ltd acquired a new stake in shares of Biomea Fusion in the second quarter valued at about $207,000. iA Global Asset Management Inc. acquired a new stake in shares of Biomea Fusion in the second quarter valued at about $174,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Biomea Fusion in the first quarter valued at about $462,000. Institutional investors and hedge funds own 96.72% of the company’s stock.

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.