Biomea Fusion (NASDAQ:BMEA) Given “Buy” Rating at D. Boral Capital

D. Boral Capital restated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research report sent to investors on Tuesday morning,Benzinga reports. D. Boral Capital currently has a $128.00 price objective on the stock.

Other equities research analysts have also recently issued research reports about the company. Rodman & Renshaw raised Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Thursday, September 26th. RODMAN&RENSHAW raised Biomea Fusion to a “strong-buy” rating in a research report on Thursday, September 26th. Truist Financial raised shares of Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Friday, September 27th. Barclays lifted their price target on shares of Biomea Fusion from $9.00 to $11.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, EF Hutton Acquisition Co. I upgraded shares of Biomea Fusion to a “strong-buy” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $39.36.

Biomea Fusion Trading Down 20.7 %

Shares of BMEA stock opened at $4.64 on Tuesday. Biomea Fusion has a twelve month low of $3.61 and a twelve month high of $20.21. The stock has a market cap of $168.15 million, a price-to-earnings ratio of -1.16 and a beta of -0.53. The company’s 50-day moving average price is $8.38 and its 200-day moving average price is $7.27.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.91) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.03. As a group, equities research analysts predict that Biomea Fusion will post -3.93 EPS for the current year.

Insider Buying and Selling

In related news, Director Michael J.M. Hitchcock acquired 10,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was acquired at an average price of $10.06 per share, for a total transaction of $100,600.00. Following the purchase, the director now owns 15,000 shares of the company’s stock, valued at $150,900. This represents a 200.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 27.57% of the stock is currently owned by insiders.

Institutional Trading of Biomea Fusion

A number of large investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Biomea Fusion during the 2nd quarter worth approximately $36,000. Scientech Research LLC purchased a new stake in shares of Biomea Fusion during the 2nd quarter worth $46,000. DRW Securities LLC acquired a new position in shares of Biomea Fusion during the second quarter worth $55,000. China Universal Asset Management Co. Ltd. increased its holdings in Biomea Fusion by 64.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company’s stock valued at $70,000 after buying an additional 2,741 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Biomea Fusion in the second quarter valued at $109,000. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

About Biomea Fusion

Biomea Fusion, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of covalent small molecule drugs to treat patients with genetically defined cancers and metabolic diseases. Its lead product candidate is BMF-219, a covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.