Biomea Fusion (NASDAQ:BMEA) PT Raised to $15.00 at JPMorgan Chase & Co.

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

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

Biomea Fusion Stock Performance

Shares of NASDAQ BMEA opened at $12.35 on Friday. The firm has a 50 day moving average price of $14.22 and a two-hundred day moving average price of $14.11. The stock has a market cap of $444.72 million, a P/E ratio of -3.46 and a beta of -0.33. Biomea Fusion has a 52-week low of $8.13 and a 52-week high of $43.69.

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

Institutional Trading of Biomea Fusion

Several hedge funds have recently modified their holdings of the stock. FMR LLC boosted its stake in Biomea Fusion by 0.6% during the third quarter. FMR LLC now owns 5,344,191 shares of the company’s stock worth $73,536,000 after acquiring an additional 34,026 shares in the last quarter. Laurion Capital Management LP boosted its position in shares of Biomea Fusion by 16.5% during the 3rd quarter. Laurion Capital Management LP now owns 2,613,135 shares of the company’s stock worth $35,957,000 after purchasing an additional 369,448 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Biomea Fusion by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,339,428 shares of the company’s stock valued at $18,431,000 after buying an additional 21,835 shares during the period. Rafferty Asset Management LLC increased its position in Biomea Fusion by 70.8% in the 3rd quarter. Rafferty Asset Management LLC now owns 233,848 shares of the company’s stock valued at $3,218,000 after buying an additional 96,945 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in Biomea Fusion by 125.0% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 180,000 shares of the company’s stock valued at $2,477,000 after buying an additional 100,000 shares in the last quarter. Institutional investors own 96.72% of the company’s stock.

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.