Biomea Fusion, Inc. (NASDAQ:BMEA) Given Average Recommendation of "Buy" by Analysts

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) have received a consensus recommendation of "Buy" from the twelve brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $22.60.

Several research firms have recently weighed in on BMEA. HC Wainwright reduced their price objective on Biomea Fusion from $40.00 to $18.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. D. Boral Capital restated a "buy" rating and issued a $16.00 price target on shares of Biomea Fusion in a report on Thursday. Barclays decreased their price objective on shares of Biomea Fusion from $11.00 to $3.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 2nd. Finally, Oppenheimer set a $10.00 target price on shares of Biomea Fusion in a research note on Monday, March 24th.

Biomea Fusion Stock Down 2.1%

Shares of NASDAQ BMEA opened at $1.43 on Friday. The stock has a market capitalization of $53.73 million, a PE ratio of -0.36 and a beta of -0.07. The firm has a fifty day moving average of $2.07 and a 200-day moving average of $4.04. Biomea Fusion has a 52-week low of $1.38 and a 52-week high of $13.43.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.04. Equities research analysts expect that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Biomea Fusion

Institutional investors have recently made changes to their positions in the company. CWM LLC lifted its holdings in shares of Biomea Fusion by 8,058.5% in the 1st quarter. CWM LLC now owns 16,888 shares of the company's stock worth $36,000 after purchasing an additional 16,681 shares during the last quarter. Cerity Partners LLC bought a new stake in shares of Biomea Fusion during the first quarter valued at about $37,000. Bayesian Capital Management LP acquired a new stake in Biomea Fusion in the fourth quarter worth about $42,000. Wells Fargo & Company MN grew its position in Biomea Fusion by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 12,914 shares of the company's stock valued at $50,000 after buying an additional 4,399 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in Biomea Fusion in the 4th quarter valued at about $54,000. 96.72% of the stock is currently owned by institutional investors.

About Biomea Fusion

Biomea Fusion, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of covalent small molecule drugs to treat patients with genetically defined cancers and metabolic diseases. Its lead product candidate is BMF-219, a covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.

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