Biomea Fusion (NASDAQ:BMEA) Price Target Increased to $15.00 by Analysts at JPMorgan Chase & Co.

Biomea Fusion (NASDAQ:BMEA) had its target price increased by JPMorgan Chase & Co. from $14.00 to $15.00 in a research note released on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities analysts have also recently issued reports about the stock. Oppenheimer reiterated an outperform rating and issued a $70.00 target price on shares of Biomea Fusion in a research note on Wednesday, April 3rd. HC Wainwright reiterated a buy rating and set a $50.00 price target on shares of Biomea Fusion in a research report on Monday, April 1st. Finally, Truist Financial restated a buy rating and issued a $55.00 price objective on shares of Biomea Fusion in a research report on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $53.25.

Biomea Fusion Trading Up 3.5 %

Shares of BMEA traded up $0.42 during trading hours on Friday, hitting $12.35. The company had a trading volume of 684,705 shares, compared to its average volume of 831,009. The company has a market capitalization of $444.72 million, a PE ratio of -3.46 and a beta of -0.33. Biomea Fusion has a one year low of $8.13 and a one year high of $43.69. The company’s fifty day moving average price is $14.22 and its two-hundred day moving average price is $14.08.

Biomea Fusion (NASDAQ:BMEA) last announced its quarterly earnings data on Monday, April 1st. The company reported ($0.98) earnings per share for the quarter. Analysts forecast that Biomea Fusion will post -4.25 earnings per share for the current year.

Institutional Trading of Biomea Fusion

Several large investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC lifted its holdings in shares of Biomea Fusion by 93.1% in the third quarter. Exchange Traded Concepts LLC now owns 6,903 shares of the company’s stock valued at $95,000 after purchasing an additional 3,329 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Biomea Fusion by 89.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,744 shares of the company’s stock worth $65,000 after purchasing an additional 2,242 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Biomea Fusion by 19.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,804 shares of the company’s stock valued at $245,000 after buying an additional 2,872 shares in the last quarter. Barclays PLC raised its position in Biomea Fusion by 73.7% in the 3rd quarter. Barclays PLC now owns 116,621 shares of the company’s stock valued at $1,605,000 after purchasing an additional 49,485 shares during the last quarter. Finally, Citigroup Inc. grew its stake in shares of Biomea Fusion by 113.8% during the third quarter. Citigroup Inc. now owns 116,134 shares of the company’s stock valued at $1,598,000 after purchasing an additional 61,810 shares during the last quarter. 96.72% of the stock is currently owned by institutional investors and hedge funds.

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.