Wall Street Zen Downgrades Biomea Fusion (NASDAQ:BMEA) to Sell

Biomea Fusion (NASDAQ:BMEA) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other research firms also recently commented on BMEA. Citigroup started coverage on shares of Biomea Fusion in a research note on Tuesday, May 5th. They set an “outperform” rating for the company. Citizens Jmp started coverage on shares of Biomea Fusion in a research note on Tuesday, May 5th. They set a “market outperform” rating and a $9.00 price objective for the company. D. Boral Capital reiterated a “buy” rating and set a $12.00 price objective on shares of Biomea Fusion in a research note on Tuesday, April 28th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Biomea Fusion in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.29.

Biomea Fusion Stock Performance

NASDAQ:BMEA opened at $1.38 on Friday. Biomea Fusion has a 12 month low of $0.87 and a 12 month high of $3.08. The firm has a fifty day simple moving average of $1.55 and a 200-day simple moving average of $1.38. The company has a market capitalization of $99.77 million, a P/E ratio of -2.03 and a beta of -0.32.

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

Institutional Investors Weigh In On Biomea Fusion

A number of hedge funds and other institutional investors have recently made changes to their positions in BMEA. AQR Capital Management LLC grew its stake in shares of 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 during the period. Bridgeway Capital Management LLC raised its position in shares of Biomea Fusion by 99.2% in the second quarter. Bridgeway Capital Management LLC now owns 70,300 shares of the company’s stock worth $127,000 after acquiring an additional 35,000 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Biomea Fusion in the second quarter worth about $26,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Biomea Fusion in the third quarter worth about $32,000. Finally, Vanguard Group Inc. raised its position in shares of Biomea Fusion by 15.4% in the third quarter. Vanguard Group Inc. now owns 2,170,066 shares of the company’s stock worth $4,384,000 after acquiring an additional 290,376 shares during the period. Institutional investors and hedge funds own 96.72% of the company’s stock.

Biomea Fusion Company Profile

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.