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

Biomea Fusion, Inc. (NASDAQ:BMEA) has received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $8.20.

A number of research firms have commented on BMEA. Weiss Ratings lowered shares of Biomea Fusion from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 1st. Citizens Jmp began coverage on Biomea Fusion in a research note on Tuesday, May 5th. They set a “market outperform” rating and a $9.00 target price for the company. Citigroup initiated coverage on Biomea Fusion in a research note on Tuesday, May 5th. They issued an “outperform” rating on the stock. Wall Street Zen downgraded shares of Biomea Fusion from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $12.00 target price on shares of Biomea Fusion in a research report on Tuesday, April 28th.

Biomea Fusion Stock Performance

NASDAQ:BMEA opened at $1.28 on Friday. Biomea Fusion has a 52-week low of $0.87 and a 52-week high of $2.99. The company has a market cap of $92.77 million, a price-to-earnings ratio of -4.41 and a beta of -0.28. The stock’s fifty day moving average price is $1.27 and its two-hundred day moving average price is $1.38.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.10. On average, equities analysts predict that Biomea Fusion will post -0.73 EPS for the current fiscal year.

Institutional Trading of Biomea Fusion

Several institutional investors and hedge funds have recently bought and sold shares of the business. Marshall Wace LLP raised its stake in Biomea Fusion by 293.7% in the 4th quarter. Marshall Wace LLP now owns 1,160,351 shares of the company’s stock valued at $1,439,000 after acquiring an additional 865,618 shares during the period. Renaissance Technologies LLC raised its position in shares of Biomea Fusion by 174.3% in the first 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 in the last quarter. BlackRock Inc. acquired a new position in Biomea Fusion in the 2nd quarter valued at $1,052,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Biomea Fusion during the fourth quarter worth about $783,000. Finally, Mariner LLC lifted its holdings in shares of Biomea Fusion by 145.1% during the 4th quarter. Mariner LLC now owns 585,632 shares of the company’s stock worth $726,000 after acquiring an additional 346,702 shares during the period. Institutional investors own 96.72% of the company’s stock.

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.