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

Biomea Fusion, Inc. (NASDAQ:BMEA) has received a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $8.50.

Several research firms have commented on BMEA. D. Boral Capital reiterated a “buy” rating and set a $12.00 price objective on shares of Biomea Fusion in a research report on Tuesday, April 28th. Citigroup began coverage on shares of Biomea Fusion in a research note on Tuesday, May 5th. They issued an “outperform” rating on the stock. Weiss Ratings raised shares of Biomea Fusion from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Citizens Jmp began coverage on shares of Biomea Fusion in a research note on Tuesday, May 5th. They issued a “market outperform” rating and a $9.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Biomea Fusion from a “hold” rating to a “sell” rating in a research note on Saturday, May 30th.

Biomea Fusion Stock Up 1.6%

BMEA stock opened at $1.25 on Friday. Biomea Fusion has a 52 week low of $0.87 and a 52 week high of $2.99. The company has a fifty day simple moving average of $1.46 and a two-hundred day simple moving average of $1.39. The firm has a market capitalization of $90.38 million, a P/E ratio of -1.84 and a beta of -0.31.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.07. As a group, analysts anticipate that Biomea Fusion will post -0.82 EPS for the current year.

Institutional Investors Weigh In On Biomea Fusion

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Biomea Fusion by 15.4% in the third quarter. Vanguard Group Inc. now owns 2,170,066 shares of the company’s stock valued at $4,384,000 after acquiring an additional 290,376 shares during the period. Renaissance Technologies LLC raised its stake in shares of Biomea Fusion by 174.3% in the first quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company’s stock valued at $2,009,000 after acquiring an additional 834,179 shares during the period. Marshall Wace LLP raised its stake in shares of Biomea Fusion by 293.7% in the fourth quarter. Marshall Wace LLP now owns 1,160,351 shares of the company’s stock valued at $1,439,000 after acquiring an additional 865,618 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Biomea Fusion in the 4th quarter worth about $783,000. Finally, Mariner LLC increased its stake in Biomea Fusion by 145.1% in the 4th quarter. Mariner LLC now owns 585,632 shares of the company’s stock worth $726,000 after buying an additional 346,702 shares during the period. Hedge funds and other institutional investors own 96.72% of the company’s stock.

About Biomea Fusion

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.