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

Key Points

• D. Boral Capital reiterated a "Buy" rating on Biomea Fusion with a $12.00 price target.
• Analyst coverage is mixed but leans positive — one Strong Buy, seven Buy and one Sell — producing an average rating of "Moderate Buy" and an average price target of $9.57.
• Shares traded down to $1.66 (−4.3%), giving a market cap of about $120M, and roughly 96.7% of the stock is owned by institutional investors with recent position increases by Vanguard, Marshall Wace and others.

Biomea Fusion (NASDAQ:BMEA - Get Free Report)'s stock had its "buy" rating reiterated by analysts at D. Boral Capital in a report issued on Tuesday,Benzinga reports. They presently have a $12.00 target price on the stock.

BMEA has been the topic of a number of other reports. Rodman & Renshaw began coverage on Biomea Fusion in a report on Tuesday, January 13th. They set a "buy" rating and a $8.00 target price on the stock. Wall Street Zen raised Biomea Fusion from a "sell" rating to a "hold" rating in a report on Saturday, March 28th. Weiss Ratings reissued a "sell (e+)" rating on shares of Biomea Fusion in a report on Monday, April 20th. Finally, Citigroup boosted their target price on Biomea Fusion from $6.00 to $7.00 and gave the stock a "buy" rating in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Biomea Fusion presently has an average rating of "Moderate Buy" and an average price target of $9.57.

Biomea Fusion Trading Down 4.3%

Shares of Biomea Fusion stock traded down $0.08 on Tuesday, reaching $1.66. 752,827 shares of the company were exchanged, compared to its average volume of 1,383,642. Biomea Fusion has a one year low of $0.87 and a one year high of $3.08. The company has a market capitalization of $119.66 million, a price-to-earnings ratio of -1.25 and a beta of -0.25. The company has a 50-day moving average of $1.51 and a 200 day moving average of $1.38.

Institutional Trading of Biomea Fusion

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings 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 worth $4,384,000 after purchasing an additional 290,376 shares in the last quarter. Marshall Wace LLP grew its holdings 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 worth $1,439,000 after purchasing an additional 865,618 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Biomea Fusion during the 4th quarter worth $783,000. Mariner LLC boosted its stake in Biomea Fusion by 145.1% in the fourth quarter. Mariner LLC now owns 585,632 shares of the company's stock valued at $726,000 after buying an additional 346,702 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in Biomea Fusion by 61.0% in the third 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 in the last quarter. 96.72% of the stock is owned by institutional investors and hedge funds.

About Biomea Fusion

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.