Biomea Fusion (NASDAQ:BMEA) Given "Sell (E+)" Rating at Weiss Ratings

Key Points

• Biomea Fusion (NASDAQ:BMEA) received a "Sell (E+)" rating from Weiss Ratings, indicating analysts have concerns about the stock's performance.
• The stock has a consensus rating of "Moderate Buy" with a price target averaging at $9.50, even as it traded down 8.9% to $1.68 recently.
• Institutional investors have shown significant interest, with notable increases in shares held by firms such as Aisling Capital Management and Federated Hermes, which grew their stakes by 156.5% and 398.2% respectively.

Biomea Fusion (NASDAQ:BMEA - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

BMEA has been the topic of several other research reports. D. Boral Capital reaffirmed a "buy" rating and issued a $16.00 price target on shares of Biomea Fusion in a research note on Friday, October 3rd. Citigroup lowered their target price on shares of Biomea Fusion from $9.00 to $7.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Oppenheimer reissued an "outperform" rating on shares of Biomea Fusion in a research note on Tuesday, August 5th. Scotiabank lowered their price objective on shares of Biomea Fusion from $30.00 to $10.00 and set a "sector outperform" rating for the company in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group started coverage on Biomea Fusion in a research report on Thursday, August 28th. They issued a "buy" rating and a $5.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Biomea Fusion has a consensus rating of "Moderate Buy" and a consensus price target of $9.50.

Biomea Fusion Trading Down 8.9%

BMEA stock traded down $0.17 during trading on Wednesday, reaching $1.68. 6,927,752 shares of the stock were exchanged, compared to its average volume of 1,450,873. The firm has a market capitalization of $99.98 million, a price-to-earnings ratio of -0.55 and a beta of -0.12. The business has a 50 day moving average price of $1.87 and a 200-day moving average price of $1.91. Biomea Fusion has a 1 year low of $1.29 and a 1 year high of $13.07.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last announced its quarterly 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. On average, research analysts anticipate that Biomea Fusion will post -3.93 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aisling Capital Management LP grew its stake in Biomea Fusion by 156.5% during the 2nd quarter. Aisling Capital Management LP now owns 2,048,757 shares of the company's stock worth $3,688,000 after purchasing an additional 1,250,000 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Biomea Fusion by 398.2% during the first quarter. Federated Hermes Inc. now owns 594,121 shares of the company's stock worth $1,265,000 after buying an additional 474,862 shares in the last quarter. Nuveen LLC acquired a new position in shares of Biomea Fusion during the first quarter worth about $575,000. Scotia Capital Inc. purchased a new stake in shares of Biomea Fusion during the second quarter worth approximately $459,000. Finally, AQR Capital Management LLC raised its holdings in Biomea Fusion by 670.5% in the first quarter. AQR Capital Management LLC now owns 264,028 shares of the company's stock valued at $562,000 after acquiring an additional 229,763 shares in the last quarter. 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.

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