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

Key Points

• Biomea Fusion, Inc. (NASDAQ:BMEA) has received a consensus rating of "Moderate Buy" from nine analysts, with a 12-month target price averaging $9.50.
• Despite the positive analyst ratings, the stock recently opened at $1.68, and has experienced a significant 12-month price fluctuation with a low of $1.29 and a high of $12.85.
• Institutional ownership of Biomea Fusion is strong, with 96.72% of the stock held by institutional investors and hedge funds, signaling confidence in the company's prospects.

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $9.50.

Several equities research analysts recently issued reports on BMEA shares. Jefferies Financial Group initiated coverage on Biomea Fusion in a report on Thursday, August 28th. They issued a "buy" rating and a $5.00 price objective on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Biomea Fusion in a report on Wednesday, October 8th. D. Boral Capital restated a "buy" rating and set a $16.00 target price on shares of Biomea Fusion in a report on Friday, October 3rd. Oppenheimer restated an "outperform" rating on shares of Biomea Fusion in a report on Tuesday, August 5th. Finally, Citigroup lowered their target price on Biomea Fusion from $9.00 to $7.00 and set a "buy" rating on the stock in a report on Monday, August 11th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BMEA. Engineers Gate Manager LP acquired a new position in Biomea Fusion in the second quarter valued at approximately $26,000. CWM LLC lifted its holdings in Biomea Fusion by 8,058.5% in the first quarter. CWM LLC now owns 16,888 shares of the company's stock valued at $36,000 after acquiring an additional 16,681 shares during the last quarter. Cerity Partners LLC acquired a new position in Biomea Fusion in the first quarter valued at approximately $37,000. Marex Group plc acquired a new position in Biomea Fusion in the second quarter valued at approximately $81,000. Finally, Exchange Traded Concepts LLC lifted its holdings in Biomea Fusion by 140.9% in the first quarter. Exchange Traded Concepts LLC now owns 50,550 shares of the company's stock valued at $108,000 after acquiring an additional 29,565 shares during the last quarter. 96.72% of the stock is currently owned by institutional investors and hedge funds.

Biomea Fusion Trading Down 6.1%

BMEA stock opened at $1.68 on Monday. Biomea Fusion has a 12-month low of $1.29 and a 12-month high of $12.85. The stock has a market cap of $99.98 million, a price-to-earnings ratio of -0.55 and a beta of -0.12. The business's 50-day moving average is $1.88 and its 200 day moving average is $1.88.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.08. As a group, equities analysts forecast that Biomea Fusion will post -3.93 EPS for the current fiscal year.

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.

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