Biomea Fusion (NASDAQ:BMEA) Receives Buy Rating from D. Boral Capital

D. Boral Capital restated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research note published on Tuesday,Benzinga reports. D. Boral Capital currently has a $128.00 price objective on the stock.

Other equities research analysts have also issued reports about the stock. Scotiabank raised their price objective on shares of Biomea Fusion from $21.00 to $41.00 and gave the stock a “sector outperform” rating in a report on Friday, September 27th. Rodman & Renshaw raised Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Thursday, September 26th. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price objective on shares of Biomea Fusion in a research report on Monday. RODMAN&RENSHAW raised Biomea Fusion to a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Citigroup reduced their price target on Biomea Fusion from $45.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Biomea Fusion currently has an average rating of “Buy” and an average target price of $39.36.

Biomea Fusion Trading Up 5.2 %

NASDAQ:BMEA opened at $4.08 on Tuesday. The stock has a market cap of $147.86 million, a price-to-earnings ratio of -1.02 and a beta of -0.53. The stock has a 50-day moving average price of $8.10 and a two-hundred day moving average price of $7.22. Biomea Fusion has a 1 year low of $3.61 and a 1 year high of $20.21.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.94) by $0.03. Sell-side analysts forecast that Biomea Fusion will post -3.93 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Michael J.M. Hitchcock purchased 10,000 shares of Biomea Fusion stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average cost of $10.06 per share, for a total transaction of $100,600.00. Following the purchase, the director now directly owns 15,000 shares of the company’s stock, valued at $150,900. This trade represents a 200.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 27.57% of the stock is owned by insiders.

Institutional Investors Weigh In On Biomea Fusion

A number of hedge funds and other institutional investors have recently modified their holdings of BMEA. Renaissance Technologies LLC bought a new position in Biomea Fusion during the second quarter worth about $1,481,000. Griffin Asset Management Inc. grew its position in shares of Biomea Fusion by 147.0% during the 3rd quarter. Griffin Asset Management Inc. now owns 96,070 shares of the company’s stock worth $970,000 after purchasing an additional 57,180 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Biomea Fusion during the second quarter worth approximately $237,000. XTX Topco Ltd acquired a new stake in shares of Biomea Fusion in the second quarter valued at approximately $207,000. Finally, FMR LLC boosted its stake in shares of Biomea Fusion by 0.7% in the third quarter. FMR LLC now owns 5,431,525 shares of the company’s stock valued at $54,858,000 after buying an additional 39,959 shares during the period. Institutional investors and hedge funds own 96.72% of the company’s stock.

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.