Biomea Fusion, Inc. (NASDAQ:BMEA) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Biomea Fusion has a consensus analyst rating of “Moderate Buy”, with eight analysts covering the stock: seven rate it a buy and one a sell. The average 12-month price target among recent broker reports is $8.50.
• The stock was trading at $1.29, down about 3.0%, and remains well below the analysts’ average target. Its market cap is about $93.27 million, and shares have ranged from $0.87 to $2.99 over the past 52 weeks.
• Biomea Fusion recently reported quarterly earnings of ($0.17) per share, beating expectations of ($0.24) per share by $0.07. Analysts still expect the company to post a loss for the current fiscal year, with projected EPS of -0.82.

Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eight analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $8.50.

BMEA has been the topic of a number of recent analyst reports. D. Boral Capital reiterated a "buy" rating and set a $12.00 target price on shares of Biomea Fusion in a research report on Tuesday, April 28th. Citigroup started coverage on shares of Biomea Fusion in a report on Tuesday, May 5th. They issued an "outperform" rating for the company. Weiss Ratings cut shares of Biomea Fusion from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, July 1st. Citizens Jmp assumed coverage on shares of Biomea Fusion in a report on Tuesday, May 5th. They set a "market outperform" rating and a $9.00 price objective on the stock. Finally, Wall Street Zen lowered shares of Biomea Fusion from a "hold" rating to a "sell" rating in a research report on Saturday, May 30th.

Biomea Fusion Stock Down 3.0%

NASDAQ:BMEA opened at $1.29 on Wednesday. Biomea Fusion has a 52 week low of $0.87 and a 52 week high of $2.99. The stock's 50-day moving average price is $1.34 and its 200-day moving average price is $1.39. The stock has a market capitalization of $93.27 million, a PE ratio of -1.90 and a beta of -0.31.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.17) earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.07. Sell-side analysts expect that Biomea Fusion will post -0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BMEA. Scientech Research LLC purchased a new position in shares of Biomea Fusion during the 3rd quarter worth $25,000. Engineers Gate Manager LP purchased a new stake in shares of Biomea Fusion in the second quarter valued at about $26,000. Millennium Management LLC grew its holdings in shares of Biomea Fusion by 156.7% in the fourth 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. Virtu Financial LLC acquired a new stake in Biomea Fusion during the third quarter worth about $39,000. Finally, State Street Corp increased its position in Biomea Fusion by 17.8% during the fourth quarter. State Street Corp now owns 165,115 shares of the company's stock worth $205,000 after purchasing an additional 25,000 shares during the last quarter. 96.72% of the stock is owned by hedge funds and other 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.

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