Biomea Fusion (NASDAQ:BMEA - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.
Several other brokerages have also commented on BMEA. Citizens Jmp initiated coverage on shares of Biomea Fusion in a report on Tuesday, May 5th. They issued a "market outperform" rating and a $9.00 price objective on the stock. Weiss Ratings downgraded shares of Biomea Fusion from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, July 1st. Citigroup started coverage on Biomea Fusion in a research report on Tuesday, May 5th. They issued an "outperform" rating on the stock. Finally, HC Wainwright restated a "buy" rating on shares of Biomea Fusion in a research note on Monday. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $9.00.
Check Out Our Latest Stock Report on Biomea Fusion
Biomea Fusion Trading Up 3.0%
Shares of BMEA opened at $1.73 on Friday. The company's 50-day moving average price is $1.34 and its 200 day moving average price is $1.40. Biomea Fusion has a 12-month low of $0.87 and a 12-month high of $2.99. The firm has a market cap of $125.39 million, a P/E ratio of -5.97 and a beta of -0.28.
Biomea Fusion (NASDAQ:BMEA - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.10. Equities research analysts forecast that Biomea Fusion will post -0.73 earnings per share for the current year.
Institutional Trading of Biomea Fusion
Several hedge funds have recently made changes to their positions in BMEA. ADAR1 Capital Management LLC purchased a new position in shares of Biomea Fusion in the second quarter valued at approximately $64,000. BlackRock Inc. purchased a new stake in Biomea Fusion during the 2nd quarter worth approximately $1,052,000. GSA Capital Partners LLP purchased a new stake in Biomea Fusion during the 2nd quarter worth approximately $318,000. Rathbones Group PLC acquired a new stake in Biomea Fusion during the 1st quarter worth approximately $57,000. Finally, Renaissance Technologies LLC lifted its holdings in Biomea Fusion by 174.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company's stock worth $2,009,000 after buying an additional 834,179 shares in the last quarter. Institutional investors and hedge funds own 96.72% of the company's stock.
About Biomea Fusion
(
Get Free Report)
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.
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