Biomea Fusion (NASDAQ:BMEA) Upgraded to “Hold” at Zacks Investment Research

Biomea Fusion (NASDAQ:BMEAGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday, 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 assumed coverage on shares of Biomea Fusion in a research note on Wednesday, January 12th. They issued a “buy” rating and a $13.00 price objective for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Biomea Fusion currently has an average rating of “Buy” and an average price target of $23.00.

Shares of BMEA traded down $0.04 during trading hours on Monday, reaching $3.97. 226,031 shares of the company traded hands, compared to its average volume of 129,408. The firm has a market cap of $115.59 million and a price-to-earnings ratio of -2.26. Biomea Fusion has a 12-month low of $2.84 and a 12-month high of $21.48. The stock’s fifty day moving average price is $4.75 and its 200 day moving average price is $7.36.

Biomea Fusion (NASDAQ:BMEAGet Rating) last issued its earnings results on Monday, February 28th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.06). On average, equities analysts expect that Biomea Fusion will post -2.48 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in BMEA. Allspring Global Investments Holdings LLC purchased a new stake in shares of Biomea Fusion during the first quarter valued at about $152,000. BlackRock Inc. lifted its position in shares of Biomea Fusion by 78.0% during the fourth quarter. BlackRock Inc. now owns 1,672,808 shares of the company’s stock valued at $12,462,000 after buying an additional 733,067 shares during the last quarter. Wells Fargo & Company MN purchased a new stake in shares of Biomea Fusion during the fourth quarter valued at about $88,000. Goldman Sachs Group Inc. purchased a new stake in shares of Biomea Fusion during the fourth quarter valued at about $149,000. Finally, Deutsche Bank AG lifted its position in shares of Biomea Fusion by 165.2% during the fourth quarter. Deutsche Bank AG now owns 13,172 shares of the company’s stock valued at $98,000 after buying an additional 8,205 shares during the last quarter. 58.82% of the stock is owned by institutional investors.

Biomea Fusion Company Profile (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.

Featured Stories

Get a free copy of the Zacks research report on Biomea Fusion (BMEA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Biomea Fusion (NASDAQ:BMEA)

Receive News & Ratings for Biomea Fusion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biomea Fusion and related companies with MarketBeat.com's FREE daily email newsletter.