Biomea Fusion (NASDAQ:BMEA) Stock Rating Reaffirmed by HC Wainwright

Biomea Fusion (NASDAQ:BMEA - Get Free Report)'s stock had its "buy" rating reiterated by HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They presently have a $50.00 price objective on the stock. HC Wainwright's price objective would indicate a potential upside of 304.86% from the company's previous close.

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Biomea Fusion from $14.00 to $15.00 and gave the stock a "neutral" rating in a research report on Friday. Oppenheimer reaffirmed an "outperform" rating and issued a $70.00 price objective on shares of Biomea Fusion in a report on Wednesday, April 3rd. Finally, Truist Financial restated a "buy" rating and set a $55.00 target price on shares of Biomea Fusion in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $53.25.

Biomea Fusion Trading Up 3.5 %

Shares of BMEA stock traded up $0.42 during trading hours on Friday, hitting $12.35. 684,678 shares of the company were exchanged, compared to its average volume of 967,022. The stock has a market capitalization of $444.72 million, a price-to-earnings ratio of -3.57 and a beta of -0.33. The firm has a fifty day simple moving average of $14.30 and a 200 day simple moving average of $14.06. Biomea Fusion has a 52-week low of $8.13 and a 52-week high of $43.69.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last issued its earnings results on Monday, April 1st. The company reported ($0.98) earnings per share (EPS) for the quarter. Sell-side analysts anticipate that Biomea Fusion will post -4.25 EPS for the current year.

Institutional Trading of Biomea Fusion

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its holdings in Biomea Fusion by 0.6% during the 3rd quarter. FMR LLC now owns 5,344,191 shares of the company's stock worth $73,536,000 after acquiring an additional 34,026 shares during the period. Laurion Capital Management LP increased its holdings in shares of Biomea Fusion by 16.5% in the 3rd quarter. Laurion Capital Management LP now owns 2,613,135 shares of the company's stock worth $35,957,000 after buying an additional 369,448 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Biomea Fusion by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,339,428 shares of the company's stock worth $18,431,000 after buying an additional 21,835 shares during the last quarter. Rafferty Asset Management LLC increased its holdings in shares of Biomea Fusion by 70.8% in the 3rd quarter. Rafferty Asset Management LLC now owns 233,848 shares of the company's stock worth $3,218,000 after buying an additional 96,945 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Biomea Fusion by 125.0% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 180,000 shares of the company's stock worth $2,477,000 after buying an additional 100,000 shares during the last quarter. Institutional investors own 96.72% of the company's stock.

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, a covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.

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