Biomea Fusion (NASDAQ:BMEA) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Biomea Fusion (NASDAQ:BMEA) from a sell rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Other analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Biomea Fusion from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 1st. HC Wainwright reissued a “buy” rating on shares of Biomea Fusion in a research report on Monday, August 24th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Biomea Fusion Stock Performance

Shares of NASDAQ BMEA opened at $1.83 on Friday. The company has a market capitalization of $132.64 million, a P/E ratio of -6.31 and a beta of -0.23. Biomea Fusion has a 52-week low of $0.87 and a 52-week high of $2.99. The company’s 50 day moving average price is $1.49 and its 200-day moving average price is $1.45.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.10. Analysts forecast that Biomea Fusion will post -0.73 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Rathbones Group PLC bought a new position in Biomea Fusion during the first quarter worth $57,000. ADAR1 Capital Management LLC bought a new stake in Biomea Fusion in the second quarter valued at $64,000. GSA Capital Partners LLP bought a new stake in Biomea Fusion in the second quarter valued at $318,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Biomea Fusion during the fourth quarter valued at about $783,000. Finally, BlackRock Inc. bought a new position in shares of Biomea Fusion during the 2nd quarter worth about $1,052,000. Institutional investors and hedge funds own 96.72% of the company’s stock.

About Biomea Fusion

Biomea Fusion, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for patients with cancer and metabolic diseases. The company uses its proprietary FUSION System to discover and develop covalent medicines designed to selectively target disease-associated proteins.

Biomea’s lead investigational product is icovamenib, also known as BMF-219, an oral covalent inhibitor of menin. The company has evaluated icovamenib in clinical studies for genetically defined blood cancers, including acute leukemias and multiple myeloma, as well as for type 2 diabetes and other metabolic conditions.