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

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

A number of other equities analysts have also weighed in on the stock. Citigroup cut their price objective on shares of Biomea Fusion from $45.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th. EF Hutton Acquisition Co. I upgraded Biomea Fusion to a “strong-buy” rating in a report on Wednesday, October 9th. Barclays raised their price objective on Biomea Fusion from $9.00 to $11.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. RODMAN&RENSHAW upgraded Biomea Fusion to a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Scotiabank raised their price target on Biomea Fusion from $21.00 to $41.00 and gave the stock a “sector outperform” rating in a research note on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $30.50.

Biomea Fusion Stock Performance

Biomea Fusion stock opened at $6.28 on Thursday. Biomea Fusion has a fifty-two week low of $3.61 and a fifty-two week high of $22.74. The company has a market capitalization of $227.59 million, a price-to-earnings ratio of -1.57 and a beta of -0.41. The stock has a fifty day moving average of $9.45 and a two-hundred day moving average of $7.99.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.91) EPS for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.03. On average, analysts forecast that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Insider Activity at Biomea Fusion

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

Institutional Investors Weigh In On Biomea Fusion

A number of large investors have recently modified their holdings of BMEA. Vanguard Group Inc. lifted its position in Biomea Fusion by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,365,625 shares of the company’s stock worth $20,416,000 after acquiring an additional 15,626 shares in the last quarter. Natixis lifted its position in shares of Biomea Fusion by 65.3% during the first quarter. Natixis now owns 19,500 shares of the company’s stock worth $297,000 after purchasing an additional 7,700 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Biomea Fusion by 0.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 177,602 shares of the company’s stock valued at $2,656,000 after purchasing an additional 1,028 shares during the period. Bayesian Capital Management LP acquired a new stake in Biomea Fusion during the 1st quarter valued at $404,000. Finally, SG Americas Securities LLC lifted its holdings in Biomea Fusion by 90.8% in the 2nd quarter. SG Americas Securities LLC now owns 59,009 shares of the company’s stock worth $266,000 after buying an additional 28,085 shares in the last quarter. Institutional investors and hedge funds own 96.72% of the company’s stock.

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.