Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $39.36 Consensus Target Price from Analysts

Biomea Fusion, Inc. (NASDAQ:BMEA) has been assigned a consensus rating of “Buy” from the thirteen analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $39.36.

BMEA has been the topic of a number of research reports. Scotiabank boosted their target price 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. Citigroup dropped their price objective on shares of Biomea Fusion from $45.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. EF Hutton Acquisition Co. I raised Biomea Fusion to a “strong-buy” rating in a research report on Wednesday, October 9th. Piper Sandler boosted their price target on Biomea Fusion from $10.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, RODMAN&RENSHAW upgraded Biomea Fusion to a “strong-buy” rating in a research report on Thursday, September 26th.

Insider Buying and Selling at Biomea Fusion

In other news, Director Michael J.M. Hitchcock acquired 10,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was bought at an average price of $10.06 per share, with a total value of $100,600.00. Following the completion of the acquisition, the director now owns 15,000 shares in the company, valued at approximately $150,900. This represents a 200.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 27.57% of the company’s stock.

Institutional Investors Weigh In On Biomea Fusion

A number of hedge funds and other institutional investors have recently bought and sold shares of BMEA. FMR LLC grew its holdings in shares of Biomea Fusion by 0.7% during the third quarter. FMR LLC now owns 5,431,525 shares of the company’s stock worth $54,858,000 after purchasing an additional 39,959 shares during the last quarter. Geode Capital Management LLC lifted its position in Biomea Fusion by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 601,479 shares of the company’s stock worth $6,076,000 after buying an additional 4,291 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Biomea Fusion during the 2nd quarter worth about $1,481,000. Charles Schwab Investment Management Inc. increased its position in Biomea Fusion by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 208,391 shares of the company’s stock valued at $2,105,000 after acquiring an additional 7,551 shares in the last quarter. Finally, Wexford Capital LP raised its stake in shares of Biomea Fusion by 26.9% in the third quarter. Wexford Capital LP now owns 130,336 shares of the company’s stock worth $1,316,000 after acquiring an additional 27,619 shares during the last quarter. 96.72% of the stock is owned by institutional investors and hedge funds.

Biomea Fusion Price Performance

BMEA stock opened at $4.03 on Tuesday. The company has a 50-day moving average of $7.97 and a two-hundred day moving average of $7.11. The stock has a market capitalization of $146.04 million, a price-to-earnings ratio of -1.00 and a beta of -0.53. Biomea Fusion has a 52-week low of $3.61 and a 52-week high of $20.21.

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