Biomea Fusion (NASDAQ:BMEA) Coverage Initiated by Analysts at Rodman & Renshaw

Stock analysts at Rodman & Renshaw started coverage on shares of Biomea Fusion (NASDAQ:BMEA) in a research report issued on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $8.00 price target on the stock. Rodman & Renshaw’s price target would indicate a potential upside of 446.08% from the company’s previous close.

Several other equities research analysts have also recently commented on BMEA. Citigroup cut their price target on Biomea Fusion from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Biomea Fusion in a report on Wednesday, October 8th. Finally, D. Boral Capital reissued a “buy” rating and issued a $12.00 price objective on shares of Biomea Fusion in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.78.

Biomea Fusion Price Performance

Shares of BMEA traded up $0.01 during mid-day trading on Tuesday, reaching $1.47. The company’s stock had a trading volume of 404,094 shares, compared to its average volume of 1,066,289. Biomea Fusion has a 12-month low of $0.87 and a 12-month high of $4.59. The stock has a market cap of $103.58 million, a PE ratio of -0.61 and a beta of -0.16. The company’s 50 day moving average is $1.26 and its 200 day moving average is $1.60.

Biomea Fusion (NASDAQ:BMEA) last posted its earnings results on Tuesday, November 4th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.01). As a group, sell-side analysts anticipate that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Insider Activity

In related news, insider Rainer M. Erdtmann bought 30,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were acquired at an average cost of $1.43 per share, for a total transaction of $42,900.00. Following the acquisition, the insider owned 723,027 shares in the company, valued at $1,033,928.61. This represents a 4.33% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 18.42% of the company’s stock.

Hedge Funds Weigh In On Biomea Fusion

A number of institutional investors have recently added to or reduced their stakes in BMEA. Aisling Capital Management LP lifted its stake in shares of Biomea Fusion by 156.5% in the second quarter. Aisling Capital Management LP now owns 2,048,757 shares of the company’s stock worth $3,688,000 after acquiring an additional 1,250,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in Biomea Fusion by 15.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,170,066 shares of the company’s stock worth $4,384,000 after purchasing an additional 290,376 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Biomea Fusion by 670.5% in the 1st quarter. AQR Capital Management LLC now owns 264,028 shares of the company’s stock valued at $562,000 after purchasing an additional 229,763 shares in the last quarter. Mariner LLC purchased a new position in shares of Biomea Fusion during the 3rd quarter valued at approximately $483,000. Finally, Bridgeway Capital Management LLC boosted its stake in shares of Biomea Fusion by 99.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 70,300 shares of the company’s stock valued at $127,000 after buying an additional 35,000 shares during the last quarter. Institutional investors and hedge funds own 96.72% of the company’s stock.

Biomea Fusion Company Profile

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.