Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $8.50 Average PT from Analysts

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $8.50.

A number of equities research analysts have issued reports on BMEA shares. Citizens Jmp initiated coverage on Biomea Fusion in a research report on Tuesday, May 5th. They set a “market outperform” rating and a $9.00 target price for the company. Wall Street Zen lowered shares of Biomea Fusion from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Citigroup started coverage on shares of Biomea Fusion in a research note on Tuesday, May 5th. They issued an “outperform” rating for the company. Weiss Ratings downgraded shares of Biomea Fusion from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 1st. Finally, D. Boral Capital reiterated a “buy” rating and issued a $12.00 target price on shares of Biomea Fusion in a research note on Tuesday, April 28th.

Biomea Fusion Price Performance

Shares of NASDAQ:BMEA opened at $1.28 on Wednesday. The stock has a market capitalization of $92.54 million, a P/E ratio of -1.88 and a beta of -0.31. The business has a 50-day moving average of $1.32 and a two-hundred day moving average of $1.39. Biomea Fusion has a fifty-two week low of $0.87 and a fifty-two week high of $2.99.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.07. As a group, research analysts expect that Biomea Fusion will post -0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Biomea Fusion

A number of hedge funds have recently bought and sold shares of the company. Scientech Research LLC acquired a new stake in shares of Biomea Fusion in the third quarter valued at about $25,000. Engineers Gate Manager LP acquired a new position in shares of Biomea Fusion during the 2nd quarter worth about $26,000. Virtu Financial LLC bought a new stake in Biomea Fusion during the 3rd quarter valued at approximately $39,000. Millennium Management LLC boosted its stake in Biomea Fusion by 156.7% during the 4th quarter. Millennium Management LLC now owns 25,677 shares of the company’s stock valued at $32,000 after purchasing an additional 15,675 shares during the period. Finally, Rathbones Group PLC bought a new stake in Biomea Fusion during the 1st quarter valued at approximately $57,000. 96.72% of the stock is currently owned by institutional investors.

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.