Biomea Fusion (NASDAQ:BMEA) Receives "Buy" Rating from D. Boral Capital

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

BMEA has been the subject of a number of other reports. Oppenheimer set a $10.00 price objective on Biomea Fusion in a report on Monday, March 24th. Piper Sandler assumed coverage on Biomea Fusion in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $7.00 price objective on the stock. HC Wainwright reduced their price objective on Biomea Fusion from $40.00 to $18.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Finally, Barclays dropped their target price on shares of Biomea Fusion from $11.00 to $3.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating, seven have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Biomea Fusion has a consensus rating of "Buy" and an average target price of $21.40.

Biomea Fusion Stock Down 4.8%

Shares of BMEA stock traded down $0.10 during mid-day trading on Tuesday, hitting $1.90. 587,923 shares of the company's stock were exchanged, compared to its average volume of 1,133,784. The stock has a market cap of $71.20 million, a price-to-earnings ratio of -0.53 and a beta of -0.23. Biomea Fusion has a fifty-two week low of $1.29 and a fifty-two week high of $13.07. The stock has a 50-day simple moving average of $1.94 and a two-hundred day simple moving average of $2.89.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.04. As a group, analysts anticipate that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. CWM LLC grew 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 purchasing an additional 16,681 shares in the last quarter. Cerity Partners LLC purchased a new position in Biomea Fusion in the 1st quarter valued at about $37,000. Bayesian Capital Management LP acquired a new stake in shares of Biomea Fusion during the fourth quarter valued at about $42,000. Wells Fargo & Company MN grew its stake in shares of Biomea Fusion by 51.7% during the fourth 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 in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Biomea Fusion during the fourth quarter worth about $54,000. 96.72% of the stock is owned by institutional investors and hedge funds.

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.