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

Biomea Fusion, Inc. (NASDAQ:BMEA) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the company, 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 price objective among analysts that have issued ratings on the stock in the last year is $8.50.

A number of equities research analysts have commented on BMEA shares. Citizens Jmp started coverage on Biomea Fusion in a research report on Tuesday, May 5th. They issued a “market outperform” rating and a $9.00 target price on the stock. D. Boral Capital reissued a “buy” rating and set a $12.00 price objective on shares of Biomea Fusion in a research report on Tuesday, April 28th. Wall Street Zen lowered shares of Biomea Fusion from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Weiss Ratings lowered shares of Biomea Fusion from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 1st. Finally, Citigroup started coverage on shares of Biomea Fusion in a research report on Tuesday, May 5th. They issued an “outperform” rating on the stock.

Hedge Funds Weigh In On Biomea Fusion

Large investors have recently made changes to their positions in the stock. Scientech Research LLC purchased a new position in shares of Biomea Fusion during the 3rd quarter worth approximately $25,000. Engineers Gate Manager LP acquired a new stake in Biomea Fusion in the 2nd quarter valued at approximately $26,000. Virtu Financial LLC purchased a new stake in Biomea Fusion in the third quarter valued at approximately $39,000. Millennium Management LLC raised its position in 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 purchasing an additional 15,675 shares during the period. Finally, Rathbones Group PLC acquired a new position in Biomea Fusion during the first quarter worth $57,000. 96.72% of the stock is currently owned by institutional investors and hedge funds.

Biomea Fusion Stock Performance

BMEA stock opened at $1.29 on Wednesday. Biomea Fusion has a one year low of $0.87 and a one year high of $2.99. The firm has a market cap of $93.27 million, a PE ratio of -1.90 and a beta of -0.31. The firm’s 50 day moving average price is $1.34 and its 200-day moving average price is $1.39.

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