Biomea Fusion (NASDAQ:BMEA) Rating Reiterated by HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a $15.00 target price on the stock.

A number of other equities analysts have also recently commented on the stock. Oppenheimer dropped their price objective on shares of Biomea Fusion from $70.00 to $60.00 and set an outperform rating for the company in a research note on Thursday, May 30th. Piper Sandler decreased their price objective on Biomea Fusion from $45.00 to $10.00 and set an overweight rating on the stock in a research report on Friday, June 7th. Citigroup dropped their target price on 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 downgraded Biomea Fusion from a buy rating to a hold rating in a research report on Tuesday, June 11th. Finally, Barclays cut shares of Biomea Fusion from an overweight rating to an equal weight rating and cut their price objective for the company from $30.00 to $5.00 in a research report on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Biomea Fusion has an average rating of Moderate Buy and an average target price of $28.25.

Biomea Fusion Trading Down 0.7 %

Shares of Biomea Fusion stock opened at $4.50 on Tuesday. Biomea Fusion has a 12 month low of $3.61 and a 12 month high of $23.92. The stock has a 50 day moving average of $9.33 and a 200 day moving average of $13.36. The firm has a market cap of $161.75 million, a PE ratio of -1.26 and a beta of -0.35.

Biomea Fusion (NASDAQ:BMEA) last posted its earnings results on Thursday, May 2nd. The company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.07). As a group, equities research analysts forecast that Biomea Fusion will post -4.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biomea Fusion

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC bought a new position in shares of Biomea Fusion during the 4th quarter worth $36,000. Grove Bank & Trust purchased a new stake in Biomea Fusion in the fourth quarter worth about $56,000. China Universal Asset Management Co. Ltd. lifted its stake in Biomea Fusion by 348.5% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,131 shares of the company’s stock worth $60,000 after acquiring an additional 3,210 shares during the period. Quest Partners LLC bought a new position in Biomea Fusion during the 4th quarter worth about $79,000. Finally, Centaurus Financial Inc. purchased a new position in Biomea Fusion during the 4th quarter valued at about $102,000. 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.