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

Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) has been given an average rating of "Buy" by the eleven analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $21.40.

Several research firms recently weighed in on BMEA. Barclays decreased their target price on 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. HC Wainwright reduced their price objective 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. D. Boral Capital reiterated a "buy" rating and issued a $16.00 price objective on shares of Biomea Fusion in a research note on Tuesday, June 24th. Oppenheimer set a $10.00 price objective on Biomea Fusion in a research note on Monday, March 24th. Finally, Piper Sandler began coverage on Biomea Fusion in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $7.00 price objective for the company.

Biomea Fusion Trading Up 0.2%

BMEA stock traded up $0.00 during trading on Friday, hitting $1.65. 1,289,449 shares of the company's stock were exchanged, compared to its average volume of 1,159,386. The business has a 50-day moving average price of $1.91 and a two-hundred day moving average price of $2.72. The stock has a market capitalization of $62.14 million, a price-to-earnings ratio of -0.47 and a beta of -0.13. Biomea Fusion has a 52-week low of $1.29 and a 52-week high of $13.07.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last posted 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. On average, equities research analysts anticipate that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.