Biomea Fusion, Inc. (NASDAQ:BMEA) Given Consensus Recommendation of “Buy” by Analysts

Biomea Fusion, Inc. (NASDAQ:BMEA) has been given an average rating of “Buy” by the thirteen analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $24.64.

Several research analysts recently issued reports on BMEA shares. 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. Oppenheimer set a $10.00 target price on shares of Biomea Fusion in a report on Monday, March 24th. Finally, HC Wainwright restated a “buy” rating and issued a $40.00 price target on shares of Biomea Fusion in a research note on Monday.

Biomea Fusion Stock Down 7.4 %

Shares of BMEA stock opened at $2.13 on Thursday. The business’s fifty day moving average is $3.28 and its 200 day moving average is $5.96. The stock has a market cap of $77.19 million, a price-to-earnings ratio of -0.53 and a beta of -0.26. Biomea Fusion has a twelve month low of $2.10 and a twelve month high of $16.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Two Sigma Advisers LP lifted its stake in Biomea Fusion by 290.7% during the 4th 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 raised its holdings in shares of 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 purchasing an additional 286,049 shares during the last quarter. Renaissance Technologies LLC lifted its position in Biomea Fusion by 317.7% during the fourth quarter. Renaissance Technologies LLC now owns 343,732 shares of the company’s stock valued at $1,334,000 after purchasing an additional 261,432 shares during the period. Walleye Capital LLC purchased a new stake in Biomea Fusion in the fourth quarter worth approximately $914,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Biomea Fusion in the 4th quarter worth approximately $766,000. 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.