Biomea Fusion, Inc. (NASDAQ:BMEA) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have been given an average rating of “Moderate Buy” by the eight brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $8.50.

A number of research firms have commented on BMEA. Wall Street Zen downgraded shares of Biomea Fusion from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. D. Boral Capital restated a “buy” rating and set a $12.00 price target on shares of Biomea Fusion in a research report on Tuesday, April 28th. Weiss Ratings upgraded shares of Biomea Fusion from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Citigroup began coverage on shares of Biomea Fusion in a research report on Tuesday, May 5th. They set an “outperform” rating on the stock. Finally, Citizens Jmp began coverage on shares of Biomea Fusion in a research report on Tuesday, May 5th. They set a “market outperform” rating and a $9.00 price target on the stock.

Biomea Fusion Stock Up 7.3%

Shares of NASDAQ:BMEA opened at $1.32 on Friday. The company has a market cap of $95.43 million, a PE ratio of -1.94 and a beta of -0.31. The company’s 50-day moving average price is $1.43 and its 200 day moving average price is $1.39. Biomea Fusion has a fifty-two week low of $0.87 and a fifty-two week high of $2.99.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.07. As a group, equities analysts anticipate that Biomea Fusion will post -0.82 EPS for the current year.

Hedge Funds Weigh In On Biomea Fusion

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Biomea Fusion by 15.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,170,066 shares of the company’s stock worth $4,384,000 after purchasing an additional 290,376 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Biomea Fusion by 174.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company’s stock worth $2,009,000 after purchasing an additional 834,179 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Biomea Fusion by 293.7% in the 4th quarter. Marshall Wace LLP now owns 1,160,351 shares of the company’s stock worth $1,439,000 after purchasing an additional 865,618 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Biomea Fusion in the 4th quarter worth approximately $783,000. Finally, Mariner LLC grew its stake in shares of Biomea Fusion by 145.1% in the 4th quarter. Mariner LLC now owns 585,632 shares of the company’s stock worth $726,000 after purchasing an additional 346,702 shares during the last quarter. Institutional investors and hedge funds own 96.72% of the company’s stock.

Biomea Fusion Company Profile

Biomea Fusion, Inc (NASDAQ:BMEA) is a clinical‐stage biopharmaceutical company headquartered in Carlsbad, California. The company is dedicated to the discovery and development of small molecule therapies that target epigenetic regulators implicated in cancer. By leveraging a proprietary chemistry and drug discovery platform, Biomea Fusion aims to design precision medicines that modulate gene expression pathways involved in the initiation and progression of hematological malignancies and solid tumors.

The company’s lead clinical asset, BMF-219, is an orally bioavailable inhibitor of the menin–mixed‐lineage leukemia (MLL) protein–protein interaction.