Biomea Fusion (NASDAQ:BMEA) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Biomea Fusion (NASDAQ:BMEAGet Rating) from a hold rating to a sell rating in a research report report published on Tuesday morning, Zacks.com reports.

According to Zacks, “Biomea Fusion Inc. is a preclinical-stage biopharmaceutical company. It is focused on the discovery, development and commercialization of irreversible small molecules to treat patients with genetically defined cancers. Biomea Fusion Inc. is based in REDWOOD CITY, Calif. “

Separately, HC Wainwright started coverage on Biomea Fusion in a research note on Wednesday, January 12th. They issued a buy rating and a $13.00 price target for the company. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $23.00.

NASDAQ:BMEA opened at $3.54 on Tuesday. The business’s 50-day moving average is $4.97 and its two-hundred day moving average is $7.57. The firm has a market capitalization of $103.07 million and a PE ratio of -2.01. Biomea Fusion has a 12 month low of $2.84 and a 12 month high of $21.48.

Biomea Fusion (NASDAQ:BMEAGet Rating) last posted its quarterly earnings results on Monday, February 28th. The company reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.06). On average, research analysts predict that Biomea Fusion will post -2.48 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Strs Ohio boosted its stake in Biomea Fusion by 150.0% in the fourth quarter. Strs Ohio now owns 5,000 shares of the company’s stock valued at $37,000 after acquiring an additional 3,000 shares during the period. Bank of New York Mellon Corp boosted its stake in Biomea Fusion by 27.2% in the third quarter. Bank of New York Mellon Corp now owns 18,129 shares of the company’s stock valued at $217,000 after acquiring an additional 3,880 shares during the period. AXA S.A. boosted its stake in Biomea Fusion by 3.8% in the third quarter. AXA S.A. now owns 115,600 shares of the company’s stock valued at $1,384,000 after acquiring an additional 4,250 shares during the period. Bank of America Corp DE acquired a new position in Biomea Fusion in the second quarter valued at approximately $78,000. Finally, Citigroup Inc. boosted its stake in Biomea Fusion by 445.7% in the fourth quarter. Citigroup Inc. now owns 7,580 shares of the company’s stock valued at $56,000 after acquiring an additional 6,191 shares during the period. Institutional investors own 58.82% of the company’s stock.

About Biomea Fusion (Get Rating)

Biomea Fusion, Inc, a biopharmaceutical company, focuses on the discovery and development of irreversible small molecules to treat patients with genetically defined cancers and metabolic diseases. Its lead product candidate is BMF-219, an orally bioavailable, potent, and selective irreversible inhibitor of menin, a transcriptional regulator in oncogenic signaling in multiple cancers.

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