HC Wainwright Has Lowered Expectations for Biomea Fusion (NASDAQ:BMEA) Stock Price

Biomea Fusion (NASDAQ:BMEA) had its target price reduced by HC Wainwright from $40.00 to $18.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently weighed in on BMEA. D. Boral Capital reaffirmed a “buy” rating and set a $16.00 price target on shares of Biomea Fusion in a research note on Tuesday. Oppenheimer set a $10.00 price target on shares of Biomea Fusion in a research note on Monday, March 24th. Finally, Barclays reduced their price objective on shares of Biomea Fusion from $11.00 to $3.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $22.60.

Biomea Fusion Stock Down 15.6 %

Shares of NASDAQ:BMEA opened at $1.69 on Tuesday. The firm has a market cap of $63.42 million, a price-to-earnings ratio of -0.42 and a beta of -0.07. Biomea Fusion has a 12 month low of $1.53 and a 12 month high of $13.43. The company’s fifty day simple moving average is $2.23 and its 200 day simple moving average is $4.48.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.04. Research analysts expect that Biomea Fusion will post -3.93 earnings per share 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. PNC Financial Services Group Inc. increased its holdings in shares of Biomea Fusion by 14.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 24,005 shares of the company’s stock worth $93,000 after acquiring an additional 3,005 shares during the last quarter. Wexford Capital LP boosted its position in Biomea Fusion by 2.3% during the fourth quarter. Wexford Capital LP now owns 133,343 shares of the company’s stock worth $517,000 after purchasing an additional 3,007 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Biomea Fusion by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,914 shares of the company’s stock valued at $50,000 after purchasing an additional 4,399 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Biomea Fusion by 27.6% in the fourth quarter. JPMorgan Chase & Co. now owns 22,535 shares of the company’s stock valued at $87,000 after purchasing an additional 4,868 shares during the period. Finally, Barclays PLC lifted its stake in shares of Biomea Fusion by 18.4% during the 4th quarter. Barclays PLC now owns 46,904 shares of the company’s stock worth $182,000 after buying an additional 7,284 shares during the last quarter. Institutional investors 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.