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

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $8.7778.

A number of analysts have recently weighed in on BMEA shares. Citigroup dropped their price target on Biomea Fusion from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Biomea Fusion in a research note on Wednesday, January 21st. D. Boral Capital restated a “buy” rating and set a $12.00 price target on shares of Biomea Fusion in a research report on Tuesday, January 13th. Finally, Rodman & Renshaw started coverage on shares of Biomea Fusion in a report on Tuesday, January 13th. They issued a “buy” rating and a $8.00 price objective on the stock.

Insiders Place Their Bets

In related news, insider Rainer M. Erdtmann purchased 30,000 shares of Biomea Fusion stock in a transaction dated Thursday, December 11th. The stock was bought at an average cost of $1.43 per share, with a total value of $42,900.00. Following the purchase, the insider owned 723,027 shares in the company, valued at approximately $1,033,928.61. The trade was a 4.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 18.42% of the stock is owned by insiders.

Hedge Funds Weigh In On Biomea Fusion

Several large investors have recently made changes to their positions in BMEA. AQR Capital Management LLC grew its position in Biomea Fusion by 670.5% during the 1st quarter. AQR Capital Management LLC now owns 264,028 shares of the company’s stock worth $562,000 after purchasing an additional 229,763 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Biomea Fusion in the second quarter worth $270,000. Scotia Capital Inc. purchased a new position in shares of Biomea Fusion during the second quarter valued at $459,000. Aisling Capital Management LP grew its holdings in shares of Biomea Fusion by 156.5% during the second quarter. Aisling Capital Management LP now owns 2,048,757 shares of the company’s stock valued at $3,688,000 after buying an additional 1,250,000 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in Biomea Fusion by 99.2% during the second quarter. Bridgeway Capital Management LLC now owns 70,300 shares of the company’s stock valued at $127,000 after buying an additional 35,000 shares during the period. Institutional investors own 96.72% of the company’s stock.

Biomea Fusion Stock Performance

BMEA stock opened at $1.25 on Friday. The stock’s 50 day simple moving average is $1.32 and its 200 day simple moving average is $1.51. Biomea Fusion has a 12-month low of $0.87 and a 12-month high of $3.96. The firm has a market cap of $88.38 million, a P/E ratio of -0.52 and a beta of -0.16.

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.