Biomea Fusion’s (BMEA) “Buy” Rating Reaffirmed at HC Wainwright

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $40.00 target price on the stock.

BMEA has been the subject of a number of other reports. Oppenheimer set a $10.00 price objective on shares of Biomea Fusion in a research report on Monday, March 24th. D. Boral Capital reiterated a “buy” rating and issued a $16.00 price target on shares of Biomea Fusion in a research note on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $24.64.

Biomea Fusion Stock Down 7.6 %

BMEA opened at $2.30 on Monday. The stock has a market cap of $83.35 million, a price-to-earnings ratio of -0.57 and a beta of -0.26. Biomea Fusion has a 12-month low of $2.25 and a 12-month high of $16.29. The business has a 50 day moving average of $3.32 and a 200-day moving average of $6.00.

Institutional Trading of Biomea Fusion

A number of institutional investors have recently modified their holdings of BMEA. Charles Schwab Investment Management Inc. raised its stake in Biomea Fusion by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 208,391 shares of the company’s stock valued at $2,105,000 after purchasing an additional 7,551 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Biomea Fusion in the third quarter valued at approximately $111,000. FMR LLC raised its position in Biomea Fusion by 0.7% during the third quarter. FMR LLC now owns 5,431,525 shares of the company’s stock valued at $54,858,000 after purchasing an additional 39,959 shares in the last quarter. Wexford Capital LP lifted its stake in Biomea Fusion by 26.9% during the third quarter. Wexford Capital LP now owns 130,336 shares of the company’s stock worth $1,316,000 after purchasing an additional 27,619 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Biomea Fusion by 156.3% in the 3rd quarter. Barclays PLC now owns 39,620 shares of the company’s stock valued at $401,000 after purchasing an additional 24,162 shares in the last quarter. 96.72% of the stock is currently owned by institutional investors.

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.