Biomea Fusion (NASDAQ:BMEA) Given "Buy" Rating at D. Boral Capital

Key Points

• D. Boral Capital has reaffirmed a "buy" rating for Biomea Fusion (NASDAQ:BMEA), with a target price of $16.00 per share.
• Citigroup has lowered its price target on Biomea Fusion from $22.00 to $9.00, while maintaining a "buy" rating; this highlights a divergence in analyst expectations.
• Institutional investors own 96.72% of Biomea Fusion's stock, with significant recent acquisitions by firms like AQR Capital Management and Federated Hermes.

Biomea Fusion (NASDAQ:BMEA - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at D. Boral Capital in a report released on Wednesday,Benzinga reports. They presently have a $16.00 price objective on the stock.

A number of other analysts also recently issued reports on the company. Oppenheimer reaffirmed an "outperform" rating on shares of Biomea Fusion in a research note on Tuesday. Piper Sandler assumed coverage on Biomea Fusion in a report on Tuesday, June 3rd. They set an "overweight" rating and a $7.00 price target for the company. Citigroup lowered their price target on Biomea Fusion from $22.00 to $9.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Finally, HC Wainwright lowered their price target on Biomea Fusion from $40.00 to $18.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $17.00.

Biomea Fusion Stock Down 5.5%

Shares of BMEA traded down $0.09 during midday trading on Wednesday, reaching $1.54. The company had a trading volume of 1,080,461 shares, compared to its average volume of 810,138. Biomea Fusion has a 1-year low of $1.29 and a 1-year high of $13.07. The stock has a market cap of $57.86 million, a PE ratio of -0.51 and a beta of -0.14. The firm has a 50 day simple moving average of $1.95 and a 200-day simple moving average of $2.34.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.59) by $0.08. As a group, sell-side analysts anticipate that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biomea Fusion

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC boosted its holdings in Biomea Fusion by 8,058.5% during the 1st 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 period. Cerity Partners LLC purchased a new position in Biomea Fusion during the 1st quarter valued at about $37,000. Bayesian Capital Management LP purchased a new position in Biomea Fusion during the 4th quarter valued at about $42,000. Wells Fargo & Company MN boosted its holdings in Biomea Fusion by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 12,914 shares of the company's stock valued at $50,000 after acquiring an additional 4,399 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Biomea Fusion by 27.6% during the 4th quarter. JPMorgan Chase & Co. now owns 22,535 shares of the company's stock valued at $87,000 after acquiring an additional 4,868 shares during the period. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

Biomea Fusion Company Profile

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.