Biomea Fusion, Inc. (NASDAQ:BMEA) Given Average Rating of “Buy” by Brokerages

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have earned an average recommendation of “Buy” from the thirteen analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $24.64.

BMEA has been the subject of a number of analyst reports. Oppenheimer set a $10.00 price objective on shares of Biomea Fusion in a research report on Monday. D. Boral Capital reissued a “buy” rating and set a $16.00 price target on shares of Biomea Fusion in a research report on Wednesday, March 19th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Biomea Fusion in a research report on Monday.

Institutional Investors Weigh In On Biomea Fusion

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC lifted its position in Biomea Fusion by 156.3% during the third quarter. Barclays PLC now owns 39,620 shares of the company’s stock worth $401,000 after purchasing an additional 24,162 shares during the period. Geode Capital Management LLC raised its position in shares of Biomea Fusion by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 601,479 shares of the company’s stock valued at $6,076,000 after buying an additional 4,291 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Biomea Fusion during the 4th quarter worth approximately $58,000. FMR LLC boosted its position in shares of Biomea Fusion by 0.7% during the 3rd quarter. FMR LLC now owns 5,431,525 shares of the company’s stock worth $54,858,000 after acquiring an additional 39,959 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Biomea Fusion by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 208,391 shares of the company’s stock valued at $2,105,000 after acquiring an additional 7,551 shares during the last quarter. 96.72% of the stock is currently owned by institutional investors and hedge funds.

Biomea Fusion Trading Down 6.3 %

NASDAQ BMEA opened at $2.52 on Thursday. The company has a market cap of $91.32 million, a PE ratio of -0.63 and a beta of -0.26. Biomea Fusion has a 12 month low of $2.35 and a 12 month high of $16.29. The stock has a 50 day moving average of $3.38 and a 200-day moving average of $6.07.

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.