Brokerages Set Biomea Fusion, Inc. (NASDAQ:BMEA) Price Target at $8.88

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have earned an average recommendation of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $8.8750.

A number of research analysts have commented on the company. Citigroup decreased their price target on Biomea Fusion from $7.00 to $6.00 and set a “buy” rating on the stock 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 decreased their target price on Biomea Fusion from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th.

Insider Transactions at Biomea Fusion

In other Biomea Fusion news, insider Rainer M. Erdtmann purchased 30,000 shares of Biomea Fusion stock in a transaction dated Thursday, December 11th. The shares were acquired at an average price of $1.43 per share, with a total value of $42,900.00. Following the completion of the transaction, the insider owned 723,027 shares of the company’s stock, valued at $1,033,928.61. This trade represents a 4.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 18.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Scientech Research LLC purchased a new stake in Biomea Fusion during the 3rd quarter worth approximately $25,000. Engineers Gate Manager LP acquired a new position in shares of Biomea Fusion in the second quarter worth $26,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Biomea Fusion during the third quarter worth $32,000. Virtu Financial LLC purchased a new stake in shares of Biomea Fusion during the third quarter worth $39,000. Finally, Marex Group plc acquired a new stake in shares of Biomea Fusion in the second quarter valued at $81,000. Institutional investors and hedge funds own 96.72% of the company’s stock.

Biomea Fusion Price Performance

Shares of BMEA stock opened at $1.21 on Friday. Biomea Fusion has a 1-year low of $0.87 and a 1-year high of $4.59. The firm has a market cap of $85.55 million, a PE ratio of -0.51 and a beta of -0.14. The company has a 50-day moving average of $1.28 and a two-hundred day moving average of $1.65.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.01). Sell-side analysts anticipate that Biomea Fusion will post -3.93 EPS for the current fiscal year.

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.