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

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

Several other equities research analysts have also recently issued reports on BMEA. Weiss Ratings restated a “sell (e+)” rating on shares of Biomea Fusion in a research report on Monday, September 28th. Citigroup restated a “market outperform” rating on shares of Biomea Fusion in a report on Wednesday, September 30th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Biomea Fusion in a research report on Monday, August 24th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.00.

Biomea Fusion Stock Performance

NASDAQ BMEA opened at $1.32 on Monday. The stock’s fifty day moving average is $1.52 and its two-hundred day moving average is $1.46. The firm has a market capitalization of $95.67 million, a P/E ratio of -4.55 and a beta of -0.28. Biomea Fusion has a fifty-two week low of $0.87 and a fifty-two week high of $2.24.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.10. As a group, sell-side analysts forecast that Biomea Fusion will post -0.73 EPS for the current year.

Institutional Trading of Biomea Fusion

Institutional investors and hedge funds have recently bought and sold shares of the business. Rathbones Group PLC acquired a new stake in shares of Biomea Fusion during the first quarter worth about $57,000. ADAR1 Capital Management LLC purchased a new position in shares of Biomea Fusion in the second quarter valued at approximately $64,000. GSA Capital Partners LLP acquired a new position in shares of Biomea Fusion in the second quarter valued at approximately $318,000. BlackRock Inc. acquired a new position in shares of Biomea Fusion in the second quarter valued at approximately $1,052,000. Finally, Renaissance Technologies LLC increased its stake in Biomea Fusion by 174.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company’s stock worth $2,009,000 after buying an additional 834,179 shares during the period. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

About Biomea Fusion

Biomea Fusion, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing small-molecule medicines for serious diseases with significant unmet medical needs. The company’s research platform is centered on covalent chemistry, an approach designed to create potentially durable interactions between medicines and their biological targets.

Biomea’s lead investigational product is icovamenib, formerly known as BMF-219, an oral covalent menin inhibitor. The company has evaluated icovamenib in oncology indications, including certain blood cancers, and is also investigating its potential in metabolic diseases such as diabetes.