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

Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) has received a consensus rating of "Buy" from the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $21.40.

A number of research analysts recently commented on the stock. Oppenheimer set a $10.00 price target on shares of Biomea Fusion in a research note on Monday, March 24th. Piper Sandler assumed coverage on Biomea Fusion in a research report on Tuesday, June 3rd. They issued an "overweight" rating and a $7.00 target price on the stock. D. Boral Capital reiterated a "buy" rating and set a $16.00 target price on shares of Biomea Fusion in a research note on Thursday, May 15th. HC Wainwright reduced their price target on Biomea Fusion from $40.00 to $18.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Finally, Barclays decreased their price objective on Biomea Fusion from $11.00 to $3.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 2nd.

Biomea Fusion Stock Down 3.8%

Shares of NASDAQ BMEA traded down $0.10 during midday trading on Tuesday, hitting $2.53. 946,756 shares of the company's stock were exchanged, compared to its average volume of 1,153,331. The firm has a market capitalization of $95.06 million, a PE ratio of -0.63 and a beta of -0.23. Biomea Fusion has a 12 month low of $1.29 and a 12 month high of $13.07. The company's 50 day moving average price is $1.83 and its 200 day moving average price is $3.24.

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

Institutional Trading of Biomea Fusion

Several large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in Biomea Fusion by 14.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 24,005 shares of the company's stock worth $93,000 after purchasing an additional 3,005 shares during the period. Wexford Capital LP lifted its holdings in shares of Biomea Fusion by 2.3% during the 4th quarter. Wexford Capital LP now owns 133,343 shares of the company's stock worth $517,000 after acquiring an additional 3,007 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Biomea Fusion by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 12,914 shares of the company's stock worth $50,000 after acquiring an additional 4,399 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Biomea Fusion by 27.6% during the 4th quarter. JPMorgan Chase & Co. now owns 22,535 shares of the company's stock worth $87,000 after acquiring an additional 4,868 shares in the last quarter. Finally, Barclays PLC increased its stake in Biomea Fusion by 18.4% in the fourth quarter. Barclays PLC now owns 46,904 shares of the company's stock valued at $182,000 after acquiring an additional 7,284 shares during the last quarter. 96.72% of the stock is owned by institutional investors and hedge funds.

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.