Biomea Fusion (NASDAQ:BMEA) Receives Buy Rating from D. Boral Capital

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reiterated by D. Boral Capital in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $12.00 target price on the stock.

A number of other equities research analysts have also weighed in on the stock. Rodman & Renshaw initiated coverage on shares of Biomea Fusion in a research note on Tuesday, January 13th. They set a “buy” rating and a $8.00 target price for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Biomea Fusion in a research note on Wednesday, January 21st. Citigroup boosted their target price on shares of Biomea Fusion from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded shares of Biomea Fusion from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.57.

Biomea Fusion Trading Up 25.8%

Shares of BMEA opened at $1.90 on Wednesday. The firm has a market cap of $137.37 million, a PE ratio of -1.45 and a beta of -0.25. The firm has a fifty day simple moving average of $1.32 and a two-hundred day simple moving average of $1.40. Biomea Fusion has a 1-year low of $0.87 and a 1-year high of $3.08.

Institutional Investors Weigh In On Biomea Fusion

Hedge funds and other institutional investors have recently modified their holdings of the stock. Scientech Research LLC purchased a new stake in shares of Biomea Fusion in the 3rd quarter worth $25,000. Engineers Gate Manager LP purchased a new stake in shares of Biomea Fusion in the 2nd quarter worth $26,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Biomea Fusion in the 3rd quarter worth $32,000. Virtu Financial LLC purchased a new stake in shares of Biomea Fusion in the 3rd quarter worth $39,000. Finally, Millennium Management LLC increased 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 purchasing an additional 15,675 shares in the last quarter. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

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.