Biomea Fusion’s (BMEA) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a report issued on Wednesday,Benzinga reports. They currently have a $4.00 price target on the stock.

Several other analysts have also issued reports on the company. Brookline Capital Markets initiated coverage on Biomea Fusion in a report on Wednesday, October 7th. They set a “buy” rating on the stock. Wall Street Zen upgraded Biomea Fusion from a “sell” rating to a “hold” rating in a research report on Monday, October 5th. Citigroup reaffirmed a “market outperform” rating on shares of Biomea Fusion in a research note on Wednesday, September 30th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biomea Fusion in a research report on Monday, September 28th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $7.60.

Biomea Fusion Price Performance

Shares of NASDAQ:BMEA opened at $0.87 on Wednesday. The company has a market capitalization of $62.98 million, a P/E ratio of -3.00 and a beta of -0.28. Biomea Fusion has a 1 year low of $0.80 and a 1 year high of $2.24. The business’s 50 day simple moving average is $1.50 and its 200 day simple moving average is $1.45.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.10. On average, sell-side analysts anticipate that Biomea Fusion will post -0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BMEA. ADAR1 Capital Management LLC bought a new stake in Biomea Fusion during the second quarter worth $64,000. BlackRock Inc. acquired a new position in shares of Biomea Fusion during the 2nd quarter worth $1,052,000. GSA Capital Partners LLP acquired a new position in shares of Biomea Fusion during the 2nd quarter worth $318,000. Rathbones Group PLC acquired a new position in shares of Biomea Fusion during the 1st quarter worth $57,000. Finally, Renaissance Technologies LLC lifted its position in shares of Biomea Fusion by 174.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company’s stock worth $2,009,000 after buying an additional 834,179 shares during the last quarter. 96.72% of the stock is owned by institutional investors.

Biomea Fusion Company Profile

Biomea Fusion, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing small-molecule medicines for serious diseases with significant unmet medical needs. The company’s research platform is centered on covalent chemistry, an approach designed to create potentially durable interactions between medicines and their biological targets.

Biomea’s lead investigational product is icovamenib, formerly known as BMF-219, an oral covalent menin inhibitor. The company has evaluated icovamenib in oncology indications, including certain blood cancers, and is also investigating its potential in metabolic diseases such as diabetes.