Biomea Fusion (NASDAQ:BMEA) Receives Sell (E+) Rating from Weiss Ratings

Key Points

• Biomea Fusion's stock has received a "sell (E+)" rating from Weiss Ratings, indicating concerns about its market performance.
• Citigroup has lowered its price target for Biomea Fusion from $9.00 to $7.00, while D. Boral Capital set a more optimistic target at $16.00.
• The company reported earnings of ($0.51) per share in its latest quarter, beating the consensus estimate of ($0.59), but is still expected to post a negative earnings for the fiscal year.

Biomea Fusion (NASDAQ:BMEA - Get Free Report)'s stock had its "sell (e+)" rating reissued by investment analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Several other equities research analysts have also recently issued reports on the stock. Citigroup reduced their price objective on shares of Biomea Fusion from $9.00 to $7.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. D. Boral Capital restated a "buy" rating and issued a $16.00 price target on shares of Biomea Fusion in a research report on Friday, October 3rd. Oppenheimer restated an "outperform" rating on shares of Biomea Fusion in a research report on Tuesday, August 5th. Scotiabank reduced their price target on shares of Biomea Fusion from $30.00 to $10.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group began coverage on shares of Biomea Fusion in a research report on Thursday, August 28th. They issued a "buy" rating and a $5.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Biomea Fusion presently has an average rating of "Moderate Buy" and a consensus price target of $9.50.

Biomea Fusion Stock Up 5.8%

NASDAQ:BMEA traded up $0.08 during trading hours on Friday, hitting $1.46. 1,659,365 shares of the stock traded hands, compared to its average volume of 1,497,841. Biomea Fusion has a 1 year low of $1.29 and a 1 year high of $12.85. The company has a market cap of $86.88 million, a price-to-earnings ratio of -0.48 and a beta of -0.12. The stock has a 50 day moving average price of $1.87 and a 200 day moving average price of $1.85.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.08. Equities analysts forecast that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BMEA. Aisling Capital Management LP grew its holdings in shares of Biomea Fusion by 156.5% in the second 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 during the last quarter. Federated Hermes Inc. grew its holdings in shares of Biomea Fusion by 398.2% in the first quarter. Federated Hermes Inc. now owns 594,121 shares of the company's stock worth $1,265,000 after purchasing an additional 474,862 shares during the last quarter. Nuveen LLC purchased a new stake in Biomea Fusion in the first quarter worth about $575,000. Scotia Capital Inc. purchased a new stake in Biomea Fusion in the second quarter worth about $459,000. Finally, AQR Capital Management LLC lifted its stake in Biomea Fusion by 670.5% in the first quarter. AQR Capital Management LLC now owns 264,028 shares of the company's stock worth $562,000 after acquiring an additional 229,763 shares during the period. 96.72% of the stock is currently owned by 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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