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

Biomea Fusion, Inc. (NASDAQ:BMEA) has been assigned an average rating of “Buy” from the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $22.60.

BMEA has been the topic of a number of recent research reports. HC Wainwright reduced their price target on shares of Biomea Fusion from $40.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. D. Boral Capital reiterated a “buy” rating and issued a $16.00 price objective on shares of Biomea Fusion in a research report on Thursday, May 15th. Oppenheimer set a $10.00 price objective on shares of Biomea Fusion in a research report on Monday, March 24th. Finally, Barclays cut their price objective on shares of Biomea Fusion from $11.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 2nd.

Institutional Trading of Biomea Fusion

A number of hedge funds and other institutional investors have recently made changes to their positions in BMEA. Barclays PLC raised its position in shares of Biomea Fusion by 156.3% during the 3rd quarter. Barclays PLC now owns 39,620 shares of the company’s stock worth $401,000 after buying an additional 24,162 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Biomea Fusion during the 4th quarter worth about $58,000. Maia Wealth LLC bought a new stake in shares of Biomea Fusion during the 4th quarter worth about $62,000. PNC Financial Services Group Inc. raised its position 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 buying an additional 3,005 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Biomea Fusion during the 4th quarter worth about $54,000. 96.72% of the stock is currently owned by institutional investors.

Biomea Fusion Price Performance

NASDAQ BMEA opened at $1.45 on Friday. Biomea Fusion has a 12 month low of $1.36 and a 12 month high of $13.07. The company has a market capitalization of $54.48 million, a price-to-earnings ratio of -0.36 and a beta of -0.07. The company’s fifty day moving average price is $1.97 and its two-hundred day moving average price is $3.75.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.80) EPS for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.04. As a group, analysts anticipate that Biomea Fusion will post -3.93 EPS for the current year.

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.