Biomea Fusion, Inc. (NASDAQ:BMEA) Given Average Recommendation of “Moderate Buy” by Brokerages

Biomea Fusion, Inc. (NASDAQ:BMEA) has received a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $8.7778.

Several analysts have issued reports on the stock. D. Boral Capital restated a “buy” rating and issued a $12.00 price target on shares of Biomea Fusion in a research report on Tuesday, January 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Biomea Fusion in a research report on Wednesday, October 8th. Rodman & Renshaw began coverage on Biomea Fusion in a research note on Tuesday, January 13th. They set a “buy” rating and a $8.00 price target on the stock. Finally, Citigroup cut their price target on Biomea Fusion from $7.00 to $6.00 and set a “buy” rating for the company in a report on Monday, November 10th.

Insider Buying and Selling

In other Biomea Fusion news, insider Rainer M. Erdtmann purchased 30,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were purchased at an average price of $1.43 per share, for a total transaction of $42,900.00. Following the completion of the purchase, the insider directly owned 723,027 shares of the company’s stock, valued at approximately $1,033,928.61. This represents a 4.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.42% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Biomea Fusion

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

Biomea Fusion Stock Down 2.1%

Shares of NASDAQ BMEA opened at $1.38 on Wednesday. Biomea Fusion has a 12 month low of $0.87 and a 12 month high of $4.59. The company has a market cap of $97.57 million, a P/E ratio of -0.58 and a beta of -0.16. The business’s 50 day moving average is $1.27 and its two-hundred day moving average is $1.59.

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

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.