Biomea Fusion, Inc. (NASDAQ:BMEA) Receives Consensus Rating of “Moderate Buy” from Analysts

Biomea Fusion, Inc. (NASDAQ:BMEA) has earned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $8.7778.

Several equities research analysts have issued reports on the stock. D. Boral Capital reaffirmed a “buy” rating and set a $12.00 price target on shares of Biomea Fusion in a research note on Tuesday, January 13th. Citigroup decreased their target price 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. Rodman & Renshaw assumed coverage on Biomea Fusion in a report on Tuesday, January 13th. They issued a “buy” rating and a $8.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Biomea Fusion in a research note on Wednesday, January 21st.

Biomea Fusion Price Performance

Shares of BMEA opened at $1.25 on Friday. Biomea Fusion has a 52-week low of $0.87 and a 52-week high of $3.96. The company has a 50-day simple moving average of $1.32 and a 200-day simple moving average of $1.51. The company has a market capitalization of $88.38 million, a PE ratio of -0.52 and a beta of -0.16.

Insider Buying and Selling

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

Institutional Trading of Biomea Fusion

Several large investors have recently bought and sold shares of BMEA. Scientech Research LLC bought a new stake in shares of Biomea Fusion in the third quarter worth $25,000. Engineers Gate Manager LP acquired a new position in Biomea Fusion during the 2nd quarter worth $26,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Biomea Fusion in the 3rd quarter worth about $32,000. Virtu Financial LLC bought a new stake in shares of Biomea Fusion in the 3rd quarter worth about $39,000. Finally, Marex Group plc bought a new position in shares of Biomea Fusion during the second quarter worth about $81,000. Institutional investors and hedge funds own 96.72% of the company’s stock.

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.