Brokerages Set Biomea Fusion, Inc. (NASDAQ:BMEA) Target Price at $9.00

Biomea Fusion, Inc. (NASDAQ:BMEA) has received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $9.00.

A number of research firms recently commented on BMEA. HC Wainwright reiterated a “buy” rating on shares of Biomea Fusion in a report on Monday, August 24th. Wall Street Zen downgraded Biomea Fusion from a “hold” rating to a “sell” rating in a research report on Sunday. Finally, Weiss Ratings lowered Biomea Fusion from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, July 1st.

Institutional Investors Weigh In On Biomea Fusion

A number of large investors have recently added to or reduced their stakes in BMEA. Marshall Wace LLP lifted its stake in shares of Biomea Fusion by 293.7% during the 4th quarter. Marshall Wace LLP now owns 1,160,351 shares of the company’s stock worth $1,439,000 after buying an additional 865,618 shares during the last quarter. Renaissance Technologies LLC grew its stake in Biomea Fusion by 174.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company’s stock valued at $2,009,000 after buying an additional 834,179 shares during the last quarter. BlackRock Inc. acquired a new position in Biomea Fusion in the 2nd quarter valued at about $1,052,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Biomea Fusion in the 4th quarter valued at about $783,000. Finally, Mariner LLC raised its holdings in Biomea Fusion by 145.1% in the 4th quarter. Mariner LLC now owns 585,632 shares of the company’s stock valued at $726,000 after acquiring an additional 346,702 shares during the period. Institutional investors own 96.72% of the company’s stock.

Biomea Fusion Trading Down 4.1%

NASDAQ BMEA opened at $1.85 on Thursday. The firm’s fifty day moving average price is $1.43 and its two-hundred day moving average price is $1.44. Biomea Fusion has a 1 year low of $0.87 and a 1 year high of $2.99. The firm has a market capitalization of $134.09 million, a P/E ratio of -6.38 and a beta of -0.23.

Biomea Fusion (NASDAQ:BMEA) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.10. On average, research analysts anticipate that Biomea Fusion will post -0.73 EPS for the current fiscal year.

About Biomea Fusion

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.