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

Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) has received a consensus rating of "Buy" from the eleven brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $21.40.

BMEA has been the subject of several recent research reports. Piper Sandler assumed coverage on Biomea Fusion in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $7.00 price target for the company. Barclays dropped their price objective on Biomea Fusion from $11.00 to $3.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 2nd. D. Boral Capital restated a "buy" rating and issued a $16.00 target price on shares of Biomea Fusion in a report on Tuesday, June 24th. HC Wainwright lowered their price target on shares of Biomea Fusion from $40.00 to $18.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. Finally, Oppenheimer set a $10.00 price objective on shares of Biomea Fusion in a research note on Monday, March 24th.

Biomea Fusion Stock Performance

NASDAQ BMEA traded up $0.17 during trading hours on Friday, reaching $1.86. The company's stock had a trading volume of 1,722,326 shares, compared to its average volume of 1,165,843. The company's 50-day moving average is $1.89 and its two-hundred day moving average is $2.68. Biomea Fusion has a fifty-two week low of $1.29 and a fifty-two week high of $13.07. The stock has a market cap of $69.88 million, a PE ratio of -0.52 and a beta of -0.13.

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 the consensus estimate of ($0.84) by $0.04. Equities analysts expect that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biomea Fusion

Large investors have recently bought and sold shares of the stock. Bayesian Capital Management LP purchased a new position in shares of Biomea Fusion in the 4th quarter worth $42,000. Wells Fargo & Company MN raised its holdings in shares of Biomea Fusion by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 12,914 shares of the company's stock worth $50,000 after purchasing an additional 4,399 shares during the period. Intech Investment Management LLC purchased a new position in shares of Biomea Fusion in the 4th quarter worth about $54,000. CWM LLC lifted its stake 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 valued at $36,000 after purchasing an additional 16,681 shares in the last quarter. Finally, Cerity Partners LLC purchased a new stake in shares of Biomea Fusion during the 1st quarter worth about $37,000. Hedge funds and other 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.