Biomea Fusion (NASDAQ:BMEA) Given “Buy” Rating at D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a report issued on Tuesday,Benzinga reports. D. Boral Capital currently has a $12.00 price target on the stock.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Biomea Fusion in a research report on Wednesday, October 8th. Citigroup reduced their price objective on shares of Biomea Fusion from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $8.78.

Biomea Fusion Price Performance

NASDAQ:BMEA opened at $1.52 on Tuesday. The firm has a market capitalization of $107.46 million, a price-to-earnings ratio of -0.64 and a beta of -0.16. Biomea Fusion has a 1 year low of $0.87 and a 1 year high of $4.59. The business has a 50 day simple moving average of $1.26 and a 200-day simple moving average of $1.60.

Biomea Fusion (NASDAQ:BMEA) last released its earnings results on Tuesday, November 4th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.01). As a group, analysts expect that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Rainer M. Erdtmann acquired 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was bought at an average price of $1.43 per share, for a total transaction of $42,900.00. Following the acquisition, the insider directly owned 723,027 shares of the company’s stock, valued at $1,033,928.61. This represents a 4.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Biomea Fusion

A number of hedge funds have recently added to or reduced their stakes in the stock. Scientech Research LLC purchased a new position in shares of Biomea Fusion during the third quarter worth approximately $25,000. Engineers Gate Manager LP bought a new position in Biomea Fusion in the second quarter worth approximately $26,000. Vanguard Personalized Indexing Management LLC purchased a new position in Biomea Fusion during the 3rd quarter worth $32,000. Virtu Financial LLC purchased a new position in Biomea Fusion during the 3rd quarter worth $39,000. Finally, Marex Group plc bought a new stake in Biomea Fusion during the 2nd quarter valued at $81,000. 96.72% of the stock is currently owned by institutional investors.

About Biomea Fusion

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.