Biomea Fusion, Inc. (NASDAQ:BMEA) Given Average Rating of “Moderate Buy” by Analysts

Biomea Fusion, Inc. (NASDAQ:BMEA) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $9.00.

BMEA has been the subject of a number of analyst reports. Scotiabank dropped their price target on Biomea Fusion from $30.00 to $10.00 and set a “sector outperform” rating for the company in a research report on Wednesday, August 6th. D. Boral Capital lowered their price objective on Biomea Fusion from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biomea Fusion in a research note on Wednesday, October 8th. Jefferies Financial Group initiated coverage on Biomea Fusion in a report on Thursday, August 28th. They set a “buy” rating and a $5.00 price target on the stock. Finally, Oppenheimer reissued an “outperform” rating on shares of Biomea Fusion in a report on Tuesday, August 5th.

Biomea Fusion Trading Down 3.0%

NASDAQ:BMEA opened at $1.30 on Friday. The company has a market cap of $91.91 million, a P/E ratio of -0.54 and a beta of -0.16. Biomea Fusion has a twelve month low of $1.22 and a twelve month high of $8.99. The company’s 50-day moving average price is $1.78 and its 200-day moving average price is $1.83.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.01). On average, analysts expect that Biomea Fusion will post -3.93 earnings per share for the current year.

Institutional Trading of Biomea Fusion

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Aisling Capital Management LP lifted its holdings in Biomea Fusion by 156.5% in the second quarter. Aisling Capital Management LP now owns 2,048,757 shares of the company’s stock valued at $3,688,000 after acquiring an additional 1,250,000 shares during the last quarter. Federated Hermes Inc. raised its position in Biomea Fusion by 398.2% in the first quarter. Federated Hermes Inc. now owns 594,121 shares of the company’s stock valued at $1,265,000 after purchasing an additional 474,862 shares during the period. Nuveen LLC acquired a new position in shares of Biomea Fusion in the 1st quarter valued at $575,000. AQR Capital Management LLC grew its holdings in shares of Biomea Fusion by 670.5% during the 1st quarter. AQR Capital Management LLC now owns 264,028 shares of the company’s stock worth $562,000 after purchasing an additional 229,763 shares during the period. Finally, Scotia Capital Inc. acquired a new stake in shares of Biomea Fusion during the 2nd quarter worth about $459,000. Institutional investors and hedge funds own 96.72% of the company’s stock.

About Biomea Fusion

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.