Brokerages Set Biomea Fusion, Inc. (NASDAQ:BMEA) Price Target at $53.13

Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $53.13.

Several research firms recently commented on BMEA. HC Wainwright restated a "buy" rating and set a $50.00 price target on shares of Biomea Fusion in a report on Monday, April 1st. Truist Financial restated a "buy" rating and set a $55.00 price target on shares of Biomea Fusion in a report on Monday, April 1st. Oppenheimer restated an "outperform" rating and set a $70.00 price target on shares of Biomea Fusion in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $14.00 target price (down from $51.00) on shares of Biomea Fusion in a research note on Tuesday, April 2nd.

Hedge Funds Weigh In On Biomea Fusion

Institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new position in shares of Biomea Fusion in the second quarter valued at approximately $36,000. Signaturefd LLC bought a new position in shares of Biomea Fusion in the fourth quarter valued at approximately $36,000. Tower Research Capital LLC TRC raised its position in shares of Biomea Fusion by 316.3% in the third quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company's stock valued at $45,000 after purchasing an additional 2,470 shares during the period. Grove Bank & Trust bought a new position in shares of Biomea Fusion in the fourth quarter valued at approximately $56,000. Finally, UBS Group AG raised its position in shares of Biomea Fusion by 3,980.0% in the third quarter. UBS Group AG now owns 4,080 shares of the company's stock valued at $40,000 after purchasing an additional 3,980 shares during the period. Institutional investors own 96.72% of the company's stock.

Biomea Fusion Trading Up 4.1 %

Shares of BMEA traded up $0.52 during midday trading on Thursday, hitting $13.28. The stock had a trading volume of 786,706 shares, compared to its average volume of 1,001,661. The firm has a market cap of $476.62 million, a P/E ratio of -3.84 and a beta of -0.53. The business has a 50-day simple moving average of $16.17 and a two-hundred day simple moving average of $14.20. Biomea Fusion has a fifty-two week low of $8.13 and a fifty-two week high of $43.69.

About Biomea Fusion

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, an orally bioavailable, potent, and selective covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.