Biomea Fusion's (BMEA) Buy Rating Reiterated at D. Boral Capital

Biomea Fusion (NASDAQ:BMEA - Get Free Report)'s stock had its "buy" rating reissued by D. Boral Capital in a note issued to investors on Friday,Benzinga reports. They presently have a $16.00 target price on the stock.

BMEA has been the topic of several other reports. Piper Sandler initiated coverage on Biomea Fusion in a report on Tuesday, June 3rd. They set an "overweight" rating and a $7.00 target price on the stock. Oppenheimer set a $10.00 price objective on Biomea Fusion in a research report on Monday, March 24th. HC Wainwright lowered their target price on Biomea Fusion from $40.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Finally, Barclays cut their price target on Biomea Fusion from $11.00 to $3.00 and set an "equal weight" rating for the company in a report on Wednesday, April 2nd. One analyst has rated the stock with a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $21.40.

Biomea Fusion Price Performance

Shares of NASDAQ BMEA traded up $0.27 during midday trading on Friday, hitting $2.63. 1,577,705 shares of the company's stock were exchanged, compared to its average volume of 1,105,065. Biomea Fusion has a twelve month low of $1.29 and a twelve month high of $13.07. The stock's 50 day moving average price is $1.88 and its 200-day moving average price is $3.12. The firm has a market cap of $98.81 million, a P/E ratio of -0.66 and a beta of -0.23.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.04. On average, analysts expect that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Biomea Fusion

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in shares of Biomea Fusion in the 4th quarter valued at about $58,000. Maia Wealth LLC bought a new stake in shares of Biomea Fusion during the 4th quarter valued at $62,000. PNC Financial Services Group Inc. boosted its position in shares of Biomea Fusion by 14.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,005 shares of the company's stock worth $93,000 after purchasing an additional 3,005 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Biomea Fusion during the fourth quarter worth $54,000. Finally, Virtu Financial LLC bought a new stake in shares of Biomea Fusion in the 4th quarter valued at $103,000. 96.72% of the stock is currently owned by institutional investors and hedge funds.

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.