D. Boral Capital Reiterates "Buy" Rating for Biomea Fusion (NASDAQ:BMEA)

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

Several other analysts also recently issued reports on the stock. Citigroup reduced their price objective on Biomea Fusion from $22.00 to $9.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. HC Wainwright dropped their price objective on Biomea Fusion from $40.00 to $18.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Oppenheimer set a $10.00 target price on shares of Biomea Fusion in a research note on Monday, March 24th. Barclays reduced their price objective on Biomea Fusion from $11.00 to $3.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 2nd. Finally, Piper Sandler initiated coverage on Biomea Fusion in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $7.00 price objective on the stock. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Biomea Fusion currently has an average rating of "Buy" and a consensus price target of $20.10.

Biomea Fusion Price Performance

Biomea Fusion stock traded down $0.05 during midday trading on Monday, reaching $1.81. The company's stock had a trading volume of 409,753 shares, compared to its average volume of 1,179,103. The stock's 50-day simple moving average is $1.89 and its 200-day simple moving average is $2.56. Biomea Fusion has a 52-week low of $1.29 and a 52-week high of $13.07. The stock has a market capitalization of $67.81 million, a P/E ratio of -0.51 and a beta of -0.13.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BMEA. Federated Hermes Inc. lifted its holdings in shares of Biomea Fusion by 398.2% in the 1st quarter. Federated Hermes Inc. now owns 594,121 shares of the company's stock valued at $1,265,000 after purchasing an additional 474,862 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Biomea Fusion by 290.7% during the 4th quarter. Two Sigma Advisers LP now owns 459,500 shares of the company's stock valued at $1,783,000 after buying an additional 341,900 shares during the last quarter. Two Sigma Investments LP boosted its holdings in Biomea Fusion by 104.4% in the fourth quarter. Two Sigma Investments LP now owns 559,930 shares of the company's stock valued at $2,173,000 after acquiring an additional 286,049 shares during the last quarter. Nuveen LLC purchased a new position in Biomea Fusion in the first quarter valued at about $575,000. Finally, Renaissance Technologies LLC increased its position in shares of Biomea Fusion by 317.7% during the fourth quarter. Renaissance Technologies LLC now owns 343,732 shares of the company's stock worth $1,334,000 after acquiring an additional 261,432 shares during 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.