Biomea Fusion, Inc. (NASDAQ:BMEA) Receives Average Rating of "Buy" from Analysts

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) have received a consensus recommendation of "Buy" from the twelve analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $22.60.

BMEA has been the topic of a number of research reports. D. Boral Capital reaffirmed a "buy" rating and set a $16.00 target price on shares of Biomea Fusion in a research report on Thursday, May 15th. Barclays dropped their target price on shares of Biomea Fusion from $11.00 to $3.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 2nd. HC Wainwright dropped their target price on shares of Biomea Fusion from $40.00 to $18.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Finally, Oppenheimer set a $10.00 target price on shares of Biomea Fusion in a research report on Monday, March 24th.

Biomea Fusion Stock Down 7.6%

Shares of NASDAQ:BMEA traded down $0.12 during trading on Friday, reaching $1.45. The stock had a trading volume of 733,090 shares, compared to its average volume of 910,928. Biomea Fusion has a 52 week low of $1.38 and a 52 week high of $13.07. The firm has a market capitalization of $54.48 million, a price-to-earnings ratio of -0.36 and a beta of -0.07. The stock has a fifty day simple moving average of $1.99 and a two-hundred day simple moving average of $3.80.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.80) EPS for the quarter, beating analysts' consensus estimates of ($0.84) by $0.04. On average, analysts forecast that Biomea Fusion will post -3.93 EPS for the current year.

Institutional Investors Weigh In On Biomea Fusion

Several institutional investors and hedge funds have recently bought and sold shares of BMEA. Barclays PLC increased its holdings in Biomea Fusion by 156.3% in the 3rd quarter. Barclays PLC now owns 39,620 shares of the company's stock valued at $401,000 after buying an additional 24,162 shares during the period. SG Americas Securities LLC bought a new stake in Biomea Fusion in the 4th quarter valued at $58,000. Maia Wealth LLC bought a new stake in Biomea Fusion in the 4th quarter valued at $62,000. PNC Financial Services Group Inc. increased its holdings in Biomea Fusion by 14.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,005 shares of the company's stock valued at $93,000 after buying an additional 3,005 shares during the period. Finally, Intech Investment Management LLC bought a new stake in Biomea Fusion in the 4th quarter valued at $54,000. Institutional investors own 96.72% of the company's stock.

Biomea Fusion Company Profile

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.