Brokerages Set Biomea Fusion, Inc. (NASDAQ:BMEA) Price Target at $39.36

Biomea Fusion, Inc. (NASDAQ:BMEA) has been given a consensus recommendation of “Buy” by the thirteen analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $39.36.

BMEA has been the subject of several analyst reports. D. Boral Capital reiterated a “buy” rating and issued a $128.00 price target on shares of Biomea Fusion in a report on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Biomea Fusion in a research report on Tuesday, January 14th. Piper Sandler raised their price target on Biomea Fusion from $10.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Barclays lifted their price target on Biomea Fusion from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th.

Institutional Investors Weigh In On Biomea Fusion

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Biomea Fusion during the 4th quarter worth approximately $58,000. Maia Wealth LLC acquired a new position in shares of Biomea Fusion during the fourth quarter worth $62,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Biomea Fusion by 64.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company’s stock valued at $70,000 after purchasing an additional 2,741 shares during the period. PNC Financial Services Group Inc. grew its holdings in Biomea Fusion by 14.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 24,005 shares of the company’s stock valued at $93,000 after purchasing an additional 3,005 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in Biomea Fusion during the 2nd quarter worth $109,000. Hedge funds and other institutional investors own 96.72% of the company’s stock.

Biomea Fusion Price Performance

NASDAQ:BMEA opened at $3.74 on Wednesday. The firm has a market cap of $135.54 million, a PE ratio of -0.93 and a beta of -0.34. The firm has a 50 day simple moving average of $4.55 and a 200-day simple moving average of $6.86. Biomea Fusion has a 1-year low of $3.61 and a 1-year high of $19.35.

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.