Shares of Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $9.00.
BMEA has been the subject of several analyst reports. Wall Street Zen raised Biomea Fusion from a "sell" rating to a "hold" rating in a report on Saturday, August 29th. HC Wainwright restated a "buy" rating on shares of Biomea Fusion in a report on Monday, August 24th. Finally, Weiss Ratings lowered shares of Biomea Fusion from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, July 1st.
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Institutional Investors Weigh In On Biomea Fusion
Several hedge funds have recently made changes to their positions in the company. ADAR1 Capital Management LLC acquired a new position in Biomea Fusion in the 2nd quarter worth approximately $64,000. BlackRock Inc. purchased a new stake in shares of Biomea Fusion in the second quarter valued at $1,052,000. GSA Capital Partners LLP purchased a new stake in shares of Biomea Fusion in the second quarter valued at $318,000. Rathbones Group PLC acquired a new stake in shares of Biomea Fusion in the first quarter worth $57,000. Finally, Renaissance Technologies LLC boosted its position in shares of Biomea Fusion by 174.3% in the first quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company's stock worth $2,009,000 after buying an additional 834,179 shares during the period. Hedge funds and other institutional investors own 96.72% of the company's stock.
Biomea Fusion Stock Performance
NASDAQ BMEA opened at $1.94 on Thursday. The stock has a market capitalization of $140.25 million, a P/E ratio of -6.67 and a beta of -0.23. Biomea Fusion has a 1 year low of $0.87 and a 1 year high of $2.99. The business's fifty day moving average is $1.37 and its two-hundred day moving average is $1.41.
Biomea Fusion (NASDAQ:BMEA - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.10. On average, research analysts forecast that Biomea Fusion will post -0.73 earnings per share for the current year.
About Biomea Fusion
(
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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.
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