Biomea Fusion (NASDAQ:BMEA) Given “Neutral” Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their neutral rating on shares of Biomea Fusion (NASDAQ:BMEAFree Report) in a report published on Tuesday morning, MarketBeat reports. JPMorgan Chase & Co. currently has a $14.00 price objective on the stock, down from their previous price objective of $51.00.

Several other equities analysts have also commented on BMEA. HC Wainwright reaffirmed a buy rating and issued a $50.00 price target on shares of Biomea Fusion in a research note on Monday. Citigroup reiterated a buy rating and issued a $90.00 price objective on shares of Biomea Fusion in a report on Friday, December 8th. Finally, Truist Financial reissued a buy rating and issued a $55.00 target price on shares of Biomea Fusion in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $48.33.

Check Out Our Latest Report on Biomea Fusion

Biomea Fusion Stock Down 16.3 %

Biomea Fusion stock opened at $12.80 on Tuesday. Biomea Fusion has a 52 week low of $8.13 and a 52 week high of $43.69. The company has a market capitalization of $457.09 million, a price-to-earnings ratio of -3.83 and a beta of -0.52. The stock has a 50-day moving average price of $16.79 and a 200 day moving average price of $14.27.

Institutional Investors Weigh In On Biomea Fusion

Several large investors have recently modified their holdings of BMEA. Renaissance Technologies LLC raised its holdings in shares of Biomea Fusion by 1.9% during the fourth quarter. Renaissance Technologies LLC now owns 63,000 shares of the company’s stock worth $531,000 after acquiring an additional 1,200 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Biomea Fusion during the second quarter worth $36,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Biomea Fusion by 89.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,744 shares of the company’s stock worth $65,000 after acquiring an additional 2,242 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Biomea Fusion by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,248 shares of the company’s stock worth $134,000 after acquiring an additional 2,345 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Biomea Fusion by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 176,797 shares of the company’s stock worth $2,567,000 after acquiring an additional 2,369 shares in the last quarter. 96.72% of the stock is owned by institutional investors.

About Biomea Fusion

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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, an orally bioavailable, potent, and selective covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.

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Analyst Recommendations for Biomea Fusion (NASDAQ:BMEA)

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