Biomea Fusion (NASDAQ:BMEA) Coverage Initiated by Analysts at Rodman & Renshaw

Rodman & Renshaw started coverage on shares of Biomea Fusion (NASDAQ:BMEA) in a research report report published on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating and a $8.00 price target on the stock.

A number of other research analysts also recently issued reports on the company. D. Boral Capital restated a “buy” rating and issued a $12.00 price objective on shares of Biomea Fusion in a research report on Tuesday. Citigroup decreased their target price on shares of Biomea Fusion from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Biomea Fusion in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $8.78.

Biomea Fusion Stock Performance

Shares of BMEA opened at $1.52 on Tuesday. The business’s 50-day moving average is $1.26 and its two-hundred day moving average is $1.60. The company has a market capitalization of $107.46 million, a P/E ratio of -0.64 and a beta of -0.16. Biomea Fusion has a fifty-two week low of $0.87 and a fifty-two week high of $4.59.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Tuesday, November 4th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.01). Analysts forecast that Biomea Fusion will post -3.93 EPS for the current year.

Insider Activity

In related news, insider Rainer M. Erdtmann purchased 30,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were purchased at an average price of $1.43 per share, with a total value of $42,900.00. Following the purchase, the insider owned 723,027 shares of the company’s stock, valued at $1,033,928.61. The trade was a 4.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On Biomea Fusion

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Biomea Fusion by 15.4% in the third quarter. Vanguard Group Inc. now owns 2,170,066 shares of the company’s stock valued at $4,384,000 after purchasing an additional 290,376 shares during the period. Aisling Capital Management LP lifted its stake in Biomea Fusion by 156.5% in the 2nd quarter. Aisling Capital Management LP now owns 2,048,757 shares of the company’s stock valued at $3,688,000 after buying an additional 1,250,000 shares in the last quarter. Two Sigma Investments LP boosted its holdings in Biomea Fusion by 61.0% in the 3rd quarter. Two Sigma Investments LP now owns 562,968 shares of the company’s stock worth $1,137,000 after buying an additional 213,321 shares during the last quarter. XTX Topco Ltd boosted its holdings in Biomea Fusion by 77.1% in the 3rd quarter. XTX Topco Ltd now owns 265,303 shares of the company’s stock worth $536,000 after buying an additional 115,524 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in 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 buying an additional 229,763 shares in the last quarter. 96.72% of the stock is currently owned by institutional investors and hedge funds.

Biomea Fusion Company Profile

Biomea Fusion, Inc (NASDAQ:BMEA) is a clinical‐stage biopharmaceutical company headquartered in Carlsbad, California. The company is dedicated to the discovery and development of small molecule therapies that target epigenetic regulators implicated in cancer. By leveraging a proprietary chemistry and drug discovery platform, Biomea Fusion aims to design precision medicines that modulate gene expression pathways involved in the initiation and progression of hematological malignancies and solid tumors.

The company’s lead clinical asset, BMF-219, is an orally bioavailable inhibitor of the menin–mixed‐lineage leukemia (MLL) protein–protein interaction.