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

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have been given a consensus rating of “Moderate Buy” by the ten research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $8.7778.

Several equities analysts recently weighed in on BMEA shares. Weiss Ratings restated a “sell (e+)” rating on shares of Biomea Fusion in a research note on Wednesday, January 21st. Rodman & Renshaw began coverage on Biomea Fusion in a report on Tuesday, January 13th. They issued a “buy” rating and a $8.00 price objective on the stock. Finally, D. Boral Capital restated a “buy” rating and issued a $12.00 price objective on shares of Biomea Fusion in a research report on Tuesday, January 13th.

Institutional Investors Weigh In On Biomea Fusion

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its holdings in Biomea Fusion by 670.5% during the first quarter. AQR Capital Management LLC now owns 264,028 shares of the company’s stock valued at $562,000 after purchasing an additional 229,763 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Biomea Fusion during the second quarter worth about $270,000. Scotia Capital Inc. purchased a new stake in shares of Biomea Fusion during the second quarter worth about $459,000. Aisling Capital Management LP raised its position in shares of Biomea Fusion by 156.5% during the 2nd quarter. Aisling Capital Management LP now owns 2,048,757 shares of the company’s stock worth $3,688,000 after purchasing an additional 1,250,000 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its position in shares of Biomea Fusion by 99.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 70,300 shares of the company’s stock worth $127,000 after purchasing an additional 35,000 shares during the last quarter. Hedge funds and other institutional investors own 96.72% of the company’s stock.

Biomea Fusion Stock Performance

Shares of Biomea Fusion stock opened at $1.25 on Thursday. The firm has a 50-day simple moving average of $1.33 and a two-hundred day simple moving average of $1.46. Biomea Fusion has a fifty-two week low of $0.87 and a fifty-two week high of $3.08. The company has a market cap of $88.38 million, a P/E ratio of -0.52 and a beta of -0.20.

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.