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

Key Points

• Analysts have assigned Biomea Fusion an average rating of "Moderate Buy" from nine firms (1 sell, 7 buy, 1 strong buy), with an average 12‑month target price of $9.57.
• BMEA opened at $1.36, has a market capitalization of about $98.3 million and a 52‑week range of $0.87–$3.08, trading well below the consensus analyst target.
• Biomea Fusion is a clinical‑stage biopharmaceutical focused on epigenetic small‑molecule therapies; its lead asset, BMF‑219, is an oral inhibitor of the menin–MLL protein–protein interaction.

Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nine research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $9.5714.

BMEA has been the topic of a number of recent analyst reports. Weiss Ratings reissued a "sell (e+)" rating on shares of Biomea Fusion in a research report on Monday, April 20th. Wall Street Zen raised Biomea Fusion from a "sell" rating to a "hold" rating in a research report on Saturday, March 28th. 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 target on the stock. Citigroup boosted their price target on Biomea Fusion from $6.00 to $7.00 and gave the stock a "buy" rating in a research report on Friday, March 27th. Finally, 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.

Biomea Fusion Stock Performance

BMEA opened at $1.36 on Friday. The business's 50-day simple moving average is $1.52 and its 200 day simple moving average is $1.38. The firm has a market capitalization of $98.33 million, a PE ratio of -1.04 and a beta of -0.25. Biomea Fusion has a 52-week low of $0.87 and a 52-week high of $3.08.

Hedge Funds Weigh In On Biomea Fusion

Institutional investors and hedge funds have recently made changes to their positions in the company. Scientech Research LLC acquired a new position in shares of Biomea Fusion in the third quarter valued at approximately $25,000. Engineers Gate Manager LP acquired a new position in shares of Biomea Fusion in the second quarter valued at approximately $26,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Biomea Fusion in the third quarter valued at approximately $32,000. Virtu Financial LLC acquired a new position in shares of Biomea Fusion in the third quarter valued at approximately $39,000. Finally, Millennium Management LLC grew its position in shares of Biomea Fusion by 156.7% in the fourth quarter. Millennium Management LLC now owns 25,677 shares of the company's stock valued at $32,000 after purchasing an additional 15,675 shares during the last quarter. Institutional investors and hedge funds own 96.72% of the company's stock.

About Biomea Fusion

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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