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

Key Points

• Ten brokerages give Biomea Fusion a consensus rating of Moderate Buy (1 sell, 1 hold, 7 buy, 1 strong buy) with an average 1‑year price target of $8.78.
• Shares trade around $1.50 (50‑day MA $1.33, 200‑day MA $1.48) with a market capitalization of $106.05 million and a 12‑month range of $0.87–$3.08.
• Institutional investors own about 96.72% of the stock, and several firms including Millennium, Mariner and Barclays recently increased or initiated positions in the latest quarter.

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) have received a consensus rating of "Moderate Buy" from the ten brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $8.7778.

A number of research firms recently issued reports on BMEA. Rodman & Renshaw initiated coverage on Biomea Fusion in a research report on Tuesday, January 13th. They set a "buy" rating and a $8.00 price objective for the company. D. Boral Capital reaffirmed a "buy" rating and issued a $12.00 target price on shares of Biomea Fusion in a research report on Tuesday, January 13th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Biomea Fusion in a report on Wednesday, January 21st.

Biomea Fusion Stock Up 2.0%

Shares of NASDAQ:BMEA opened at $1.50 on Thursday. The firm has a fifty day moving average of $1.33 and a two-hundred day moving average of $1.48. The firm has a market capitalization of $106.05 million, a P/E ratio of -0.63 and a beta of -0.20. Biomea Fusion has a 12-month low of $0.87 and a 12-month high of $3.08.

Institutional Trading of Biomea Fusion

A number of institutional investors have recently added to or reduced their stakes in BMEA. Millennium Management LLC grew its position in Biomea Fusion by 156.7% in the fourth quarter. Millennium Management LLC now owns 25,677 shares of the company's stock worth $32,000 after acquiring an additional 15,675 shares in the last quarter. ADAR1 Capital Management LLC bought a new position in shares of Biomea Fusion during the 4th quarter valued at $54,000. Jain Global LLC bought a new position in shares of Biomea Fusion during the 4th quarter valued at $68,000. Mariner LLC lifted its stake in shares of Biomea Fusion by 145.1% in the 4th quarter. Mariner LLC now owns 585,632 shares of the company's stock valued at $726,000 after purchasing an additional 346,702 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Biomea Fusion by 1,731.0% in the 4th quarter. Barclays PLC now owns 59,013 shares of the company's stock valued at $73,000 after purchasing an additional 55,790 shares during the last quarter. 96.72% of the stock is currently owned by institutional investors and hedge funds.

Biomea Fusion Company Profile

Biomea Fusion, Inc NASDAQ: BMEA is a clinical‐stage biopharmaceutical company headquartered in Carlsbad, California. The company is dedicated to the discovery and development of small molecule therapies that target epigenetic regulators implicated in cancer. By leveraging a proprietary chemistry and drug discovery platform, Biomea Fusion aims to design precision medicines that modulate gene expression pathways involved in the initiation and progression of hematological malignancies and solid tumors.

The company's lead clinical asset, BMF-219, is an orally bioavailable inhibitor of the menin–mixed‐lineage leukemia (MLL) protein–protein interaction.

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