D. Boral Capital Reaffirms Buy Rating for Biomea Fusion (NASDAQ:BMEA)

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reissued by equities researchers at D. Boral Capital in a note issued to investors on Tuesday,Benzinga reports. They currently have a $12.00 price target on the stock.

Other research analysts also recently issued reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Biomea Fusion in a research report on Wednesday, October 8th. Citigroup decreased their target price on Biomea Fusion from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Biomea Fusion has a consensus rating of “Moderate Buy” and a consensus price target of $8.78.

Biomea Fusion Stock Performance

BMEA stock opened at $1.62 on Tuesday. The company has a market cap of $114.53 million, a price-to-earnings ratio of -0.68 and a beta of -0.16. The business’s 50-day moving average is $1.27 and its two-hundred day moving average is $1.60. Biomea Fusion has a fifty-two week low of $0.87 and a fifty-two week high of $4.59.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.01). Equities analysts predict that Biomea Fusion will post -3.93 earnings per share for the current year.

Insiders Place Their Bets

In other Biomea Fusion news, insider Rainer M. Erdtmann purchased 30,000 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was acquired at an average price of $1.43 per share, for a total transaction of $42,900.00. Following the purchase, the insider owned 723,027 shares of the company’s stock, valued at approximately $1,033,928.61. This represents a 4.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 18.42% of the company’s stock.

Institutional Trading of Biomea Fusion

Several institutional investors have recently made changes to their positions in the business. Scientech Research LLC bought a new stake in Biomea Fusion during the 3rd quarter valued at approximately $25,000. Engineers Gate Manager LP purchased a new stake in Biomea Fusion during the 2nd quarter valued at approximately $26,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Biomea Fusion during the third quarter valued at approximately $32,000. Virtu Financial LLC purchased a new position in shares of Biomea Fusion in the third quarter worth $39,000. Finally, Marex Group plc bought a new position in shares of Biomea Fusion during the second quarter worth $81,000. Hedge funds and other institutional investors own 96.72% of the company’s stock.

About Biomea Fusion

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.