Biomea Fusion (NASDAQ:BMEA) Earns “Buy” Rating from HC Wainwright

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $40.00 price target on the stock.

Separately, D. Boral Capital reiterated a “buy” rating and set a $16.00 target price on shares of Biomea Fusion in a report on Wednesday, March 19th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $29.18.

Biomea Fusion Trading Up 0.0 %

BMEA stock traded up $0.00 during trading on Monday, hitting $2.87. The company had a trading volume of 814,427 shares, compared to its average volume of 637,549. Biomea Fusion has a fifty-two week low of $2.35 and a fifty-two week high of $16.29. The company has a fifty day moving average price of $3.47 and a two-hundred day moving average price of $6.16. The company has a market cap of $104.04 million, a P/E ratio of -0.72 and a beta of -0.26.

Hedge Funds Weigh In On Biomea Fusion

Hedge funds have recently made changes to their positions in the business. Bayesian Capital Management LP bought a new position in Biomea Fusion in the fourth quarter worth about $42,000. Wells Fargo & Company MN raised its stake in Biomea Fusion by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,914 shares of the company’s stock valued at $50,000 after buying an additional 4,399 shares during the last quarter. Intech Investment Management LLC bought a new stake in Biomea Fusion in the fourth quarter worth $54,000. SG Americas Securities LLC bought a new position in Biomea Fusion in the 4th quarter valued at approximately $58,000. Finally, Maia Wealth LLC purchased a new stake in Biomea Fusion during the 4th quarter valued at $62,000. 96.72% of the stock is owned by hedge funds and other institutional investors.

Biomea Fusion Company Profile

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.