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

Biomea Fusion, Inc. (NASDAQ:BMEA) has been assigned a consensus rating of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $8.50.

Several brokerages have weighed in on BMEA. Citizens Jmp began coverage on Biomea Fusion in a research note on Tuesday, May 5th. They set a “market outperform” rating and a $9.00 target price on the stock. Weiss Ratings raised Biomea Fusion from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. 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. Citigroup assumed coverage on Biomea Fusion in a research note on Tuesday, May 5th. They issued an “outperform” rating on the stock. Finally, Wall Street Zen downgraded Biomea Fusion from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th.

Institutional Trading of Biomea Fusion

A number of hedge funds and other institutional investors have recently modified their holdings of BMEA. Scientech Research LLC bought a new stake in shares of Biomea Fusion in the 3rd quarter worth $25,000. Engineers Gate Manager LP bought a new stake in shares of Biomea Fusion in the 2nd quarter worth $26,000. Millennium Management LLC raised its stake in shares of Biomea Fusion by 156.7% in the 4th quarter. Millennium Management LLC now owns 25,677 shares of the company’s stock worth $32,000 after buying an additional 15,675 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Biomea Fusion in the 3rd quarter worth $39,000. Finally, ADAR1 Capital Management LLC bought a new stake in shares of Biomea Fusion in the 4th quarter worth $54,000. Institutional investors own 96.72% of the company’s stock.

Biomea Fusion Stock Performance

Shares of NASDAQ BMEA opened at $1.18 on Friday. The company has a market cap of $85.31 million, a price-to-earnings ratio of -1.74 and a beta of -0.31. Biomea Fusion has a 12-month low of $0.87 and a 12-month high of $2.99. The stock’s 50 day simple moving average is $1.50 and its 200 day simple moving average is $1.39.

Biomea Fusion (NASDAQ:BMEA) last announced its earnings results on Monday, May 11th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.07. As a group, equities analysts forecast that Biomea Fusion will post -0.82 earnings per share for the current fiscal year.

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.