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

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $8.7778.

BMEA has been the subject of a number of analyst reports. Citigroup reduced 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. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biomea Fusion in a research note on Wednesday, October 8th. Rodman & Renshaw assumed coverage on shares of Biomea Fusion in a report on Tuesday, January 13th. They issued a “buy” rating and a $8.00 price objective for the company. Finally, D. Boral Capital restated a “buy” rating and set a $12.00 target price on shares of Biomea Fusion in a report on Tuesday, January 13th.

Insider Buying and Selling at Biomea Fusion

In related news, insider Rainer M. Erdtmann acquired 30,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were acquired at an average cost 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 approximately $1,033,928.61. The trade was a 4.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 18.42% of the company’s stock.

Hedge Funds Weigh In On Biomea Fusion

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMEA. Aisling Capital Management LP lifted its stake in shares of Biomea Fusion by 156.5% in the second quarter. Aisling Capital Management LP now owns 2,048,757 shares of the company’s stock worth $3,688,000 after buying an additional 1,250,000 shares during the last quarter. AQR Capital Management LLC raised its holdings in Biomea Fusion by 670.5% in the 1st quarter. AQR Capital Management LLC now owns 264,028 shares of the company’s stock worth $562,000 after acquiring an additional 229,763 shares during the period. XTX Topco Ltd lifted its position in Biomea Fusion by 77.1% during the 3rd quarter. XTX Topco Ltd now owns 265,303 shares of the company’s stock worth $536,000 after acquiring an additional 115,524 shares during the last quarter. Mariner LLC bought a new stake in Biomea Fusion during the third quarter valued at about $483,000. Finally, Bridgeway Capital Management LLC grew its position in shares of Biomea Fusion by 99.2% in the second quarter. Bridgeway Capital Management LLC now owns 70,300 shares of the company’s stock valued at $127,000 after purchasing an additional 35,000 shares during the last quarter. Institutional investors and hedge funds own 96.72% of the company’s stock.

Biomea Fusion Price Performance

Shares of BMEA stock opened at $1.38 on Wednesday. Biomea Fusion has a fifty-two week low of $0.87 and a fifty-two week high of $4.59. The stock’s 50-day moving average is $1.27 and its two-hundred day moving average is $1.59. The firm has a market cap of $97.57 million, a P/E ratio of -0.58 and a beta of -0.16.

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

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.