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

Key Points

• Biomea Fusion has a “Moderate Buy” consensus rating from six analysts: five recommend buying the stock and one recommends selling it. The average 12-month price target is $8.20, well above the reported $1.26 share price.
• Institutional investors own 96.72% of the company, with Vanguard, Renaissance Technologies, and Marshall Wace among firms that recently increased their positions.
• Biomea Fusion reported a quarterly loss of $0.12 per share, beating analysts’ expected loss of $0.22. Analysts expect a full-year loss of approximately $0.75 per share.

Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $8.20.

Several research firms recently commented on BMEA. Wall Street Zen lowered Biomea Fusion from a "hold" rating to a "sell" rating in a report on Saturday, May 30th. Weiss Ratings downgraded Biomea Fusion from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, July 1st. D. Boral Capital reissued a "buy" rating and issued a $12.00 price target on shares of Biomea Fusion in a report on Tuesday, April 28th. Citizens Jmp began coverage on Biomea Fusion in a research report on Tuesday, May 5th. They issued a "market outperform" rating and a $9.00 price objective on the stock. Finally, Citigroup began coverage on shares of Biomea Fusion in a research note on Tuesday, May 5th. They set an "outperform" rating on the stock.

Institutional Trading of Biomea Fusion

A number of hedge funds have recently added to or reduced their stakes in BMEA. Vanguard Group Inc. increased its holdings in Biomea Fusion by 15.4% in the third quarter. Vanguard Group Inc. now owns 2,170,066 shares of the company's stock valued at $4,384,000 after buying an additional 290,376 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Biomea Fusion by 174.3% in the first quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company's stock worth $2,009,000 after acquiring an additional 834,179 shares during the period. Marshall Wace LLP raised its position in shares of Biomea Fusion by 293.7% in the fourth quarter. Marshall Wace LLP now owns 1,160,351 shares of the company's stock worth $1,439,000 after acquiring an additional 865,618 shares during the period. BlackRock Inc. purchased a new stake in shares of Biomea Fusion during the 2nd quarter worth about $1,052,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Biomea Fusion during the 4th quarter worth about $783,000. 96.72% of the stock is owned by hedge funds and other institutional investors.

Biomea Fusion Stock Performance

NASDAQ:BMEA opened at $1.26 on Friday. The firm's fifty day moving average is $1.27 and its two-hundred day moving average is $1.38. The firm has a market cap of $91.10 million, a price-to-earnings ratio of -4.34 and a beta of -0.28. Biomea Fusion has a one year low of $0.87 and a one year high of $2.99.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.10. As a group, equities research analysts predict that Biomea Fusion will post -0.75 earnings per share for the current fiscal year.

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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