Biomea Fusion (NASDAQ:BMEA) Earns Buy Rating from D. Boral Capital

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating restated by analysts at D. Boral Capital in a research note issued on Wednesday,Benzinga reports. They presently have a $12.00 price objective on the stock.

A number of other equities research analysts have also weighed in on the company. Rodman & Renshaw initiated coverage on Biomea Fusion in a research report on Tuesday, January 13th. They set a “buy” rating and a $8.00 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Biomea Fusion in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Biomea Fusion currently has an average rating of “Moderate Buy” and a consensus target price of $8.63.

Biomea Fusion Stock Performance

NASDAQ BMEA opened at $1.37 on Wednesday. The firm’s fifty day moving average price is $1.29 and its two-hundred day moving average price is $1.43. The stock has a market cap of $99.05 million, a PE ratio of -1.05 and a beta of -0.20. Biomea Fusion has a fifty-two week low of $0.87 and a fifty-two week high of $3.08.

Hedge Funds Weigh In On Biomea Fusion

Large investors have recently modified their holdings of the business. Millennium Management LLC lifted its holdings in shares of Biomea Fusion by 156.7% during the fourth quarter. Millennium Management LLC now owns 25,677 shares of the company’s stock worth $32,000 after purchasing an additional 15,675 shares during the period. ADAR1 Capital Management LLC acquired a new stake in Biomea Fusion in the fourth quarter valued at $54,000. Jain Global LLC bought a new position in Biomea Fusion during the 4th quarter worth $68,000. Mariner LLC lifted its holdings in Biomea Fusion by 145.1% during the 4th quarter. Mariner LLC now owns 585,632 shares of the company’s stock worth $726,000 after buying an additional 346,702 shares during the period. Finally, Barclays PLC lifted its holdings in Biomea Fusion by 1,731.0% during the 4th quarter. Barclays PLC now owns 59,013 shares of the company’s stock worth $73,000 after buying an additional 55,790 shares during the period. 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.