D. Boral Capital Reiterates Buy Rating for Biomea Fusion (NASDAQ:BMEA)

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reissued by stock analysts at D. Boral Capital in a note issued to investors on Wednesday,Benzinga reports. They presently have a $16.00 price target on the stock.

Separately, HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Biomea Fusion in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $29.18.

Biomea Fusion Trading Up 0.4 %

NASDAQ BMEA opened at $2.53 on Wednesday. Biomea Fusion has a 1-year low of $2.35 and a 1-year high of $17.25. The company has a market capitalization of $91.68 million, a PE ratio of -0.63 and a beta of -0.26. The firm’s fifty day simple moving average is $3.55 and its 200-day simple moving average is $6.26.

Institutional Investors Weigh In On Biomea Fusion

A number of hedge funds have recently bought and sold shares of the company. Wexford Capital LP boosted its holdings in Biomea Fusion by 2.3% during the fourth quarter. Wexford Capital LP now owns 133,343 shares of the company’s stock valued at $517,000 after acquiring an additional 3,007 shares during the period. Two Sigma Advisers LP boosted its holdings in Biomea Fusion by 290.7% during the fourth quarter. Two Sigma Advisers LP now owns 459,500 shares of the company’s stock valued at $1,783,000 after acquiring an additional 341,900 shares during the period. Two Sigma Investments LP boosted its holdings in Biomea Fusion by 104.4% during the fourth quarter. Two Sigma Investments LP now owns 559,930 shares of the company’s stock valued at $2,173,000 after acquiring an additional 286,049 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in Biomea Fusion during the fourth quarter valued at about $766,000. Finally, Graham Capital Management L.P. bought a new stake in Biomea Fusion during the fourth quarter valued at about $307,000. 96.72% of the stock is currently 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.