Biomea Fusion (NASDAQ:BMEA) Coverage Initiated by Analysts at Citizens Jmp

Key Points

• Citizens Jmp initiated coverage of Biomea Fusion (NASDAQ:BMEA) with a market outperform rating and a $9.00 price target, while the consensus from analysts is a Moderate Buy with an average target of $9.50.
• The stock opened at $1.48 with a market cap of $107 million, a negative P/E of -1.13, a 52-week range of $0.87–$3.08, and 50/200-day moving averages around $1.52 and $1.38 respectively.
• Institutional ownership is very high (96.72%) with recent stake increases by Vanguard, Marshall Wace and Two Sigma; Biomea is a clinical‑stage biopharma whose lead asset BMF‑219 is an oral menin–MLL inhibitor targeting hematologic and solid tumors.

Equities research analysts at Citizens Jmp initiated coverage on shares of Biomea Fusion (NASDAQ:BMEA - Get Free Report) in a report released on Tuesday,Benzinga reports. The firm set a "market outperform" rating and a $9.00 price target on the stock.

Other analysts have also issued reports about the company. Weiss Ratings reissued a "sell (e+)" rating on shares of Biomea Fusion in a research note on Monday, April 20th. Rodman & Renshaw started coverage on Biomea Fusion in a research note on Tuesday, January 13th. They issued a "buy" rating and a $8.00 price target on the stock. D. Boral Capital reissued a "buy" rating and issued a $12.00 price target on shares of Biomea Fusion in a research note on Tuesday, April 28th. Wall Street Zen raised Biomea Fusion from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Finally, Citigroup initiated coverage on Biomea Fusion in a research note on Tuesday. They issued an "outperform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Biomea Fusion has a consensus rating of "Moderate Buy" and a consensus target price of $9.50.

Biomea Fusion Stock Performance

Shares of NASDAQ BMEA opened at $1.48 on Tuesday. The firm has a market cap of $107.00 million, a P/E ratio of -1.13 and a beta of -0.32. Biomea Fusion has a 1 year low of $0.87 and a 1 year high of $3.08. The firm's 50 day moving average price is $1.52 and its 200 day moving average price is $1.38.

Institutional Trading of Biomea Fusion

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Biomea Fusion by 15.4% during the 3rd 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 during the period. Marshall Wace LLP grew its stake in shares of Biomea Fusion by 293.7% during the 4th quarter. Marshall Wace LLP now owns 1,160,351 shares of the company's stock valued at $1,439,000 after buying an additional 865,618 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Biomea Fusion during the 4th quarter valued at $783,000. Mariner LLC grew its stake in shares of Biomea Fusion by 145.1% during the 4th quarter. Mariner LLC now owns 585,632 shares of the company's stock valued at $726,000 after buying an additional 346,702 shares during the period. Finally, Two Sigma Investments LP grew its stake in shares of Biomea Fusion by 61.0% during the 3rd quarter. Two Sigma Investments LP now owns 562,968 shares of the company's stock valued at $1,137,000 after buying an additional 213,321 shares during the period. 96.72% of the stock is owned by hedge funds and other institutional investors.

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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