Biomea Fusion, Inc. (NASDAQ:BMEA) Receives Average Recommendation of “Moderate Buy” from Analysts

Biomea Fusion, Inc. (NASDAQ:BMEA) has been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $8.2857.

BMEA has been the subject of several analyst reports. Citizens Jmp initiated coverage on Biomea Fusion in a research note on Tuesday, May 5th. They issued a “market outperform” rating and a $9.00 price objective for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Biomea Fusion in a research note on Monday, April 20th. Citigroup initiated coverage on Biomea Fusion in a research note on Tuesday, May 5th. They issued an “outperform” rating for the company. D. Boral Capital reissued a “buy” rating and issued a $12.00 price objective on shares of Biomea Fusion in a research note on Tuesday, April 28th. Finally, Wall Street Zen raised Biomea Fusion from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th.

Biomea Fusion Stock Performance

BMEA stock opened at $1.42 on Tuesday. The stock’s 50 day simple moving average is $1.54 and its 200 day simple moving average is $1.38. Biomea Fusion has a fifty-two week low of $0.87 and a fifty-two week high of $3.08. The company has a market cap of $102.67 million, a P/E ratio of -2.09 and a beta of -0.32.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.07. Equities analysts predict that Biomea Fusion will post -0.82 earnings per share for the current year.

Institutional Trading of Biomea Fusion

Institutional investors and hedge funds have recently modified their holdings of the stock. Scientech Research LLC purchased a new stake in shares of Biomea Fusion in the third quarter worth approximately $25,000. Engineers Gate Manager LP bought a new position in shares of Biomea Fusion in the second quarter valued at approximately $26,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Biomea Fusion in the third quarter valued at approximately $32,000. Virtu Financial LLC bought a new position in shares of Biomea Fusion in the third quarter valued at approximately $39,000. Finally, Millennium Management LLC grew its holdings in shares of Biomea Fusion by 156.7% in the fourth quarter. Millennium Management LLC now owns 25,677 shares of the company’s stock valued at $32,000 after acquiring an additional 15,675 shares in the last quarter. 96.72% of the stock is owned by hedge funds and other institutional investors.

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.