Biomea Fusion’s (BMEA) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research report sent to investors on Thursday morning, Benzinga reports. HC Wainwright currently has a $40.00 price target on the stock.

Other equities analysts also recently issued reports about the company. Capital One Financial initiated coverage on Biomea Fusion in a research note on Thursday, August 29th. They set an “overweight” rating and a $25.00 target price for the company. Barclays raised their target price on Biomea Fusion from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Rodman & Renshaw upgraded shares of Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Thursday, September 26th. Truist Financial upgraded shares of Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Friday, September 27th. Finally, EF Hutton Acquisition Co. I raised shares of Biomea Fusion to a “strong-buy” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $30.50.

Biomea Fusion Price Performance

Shares of NASDAQ BMEA opened at $9.04 on Thursday. The stock has a fifty day moving average price of $9.41 and a 200 day moving average price of $8.29. Biomea Fusion has a 1-year low of $3.61 and a 1-year high of $22.74. The company has a market cap of $327.61 million, a PE ratio of -2.25 and a beta of -0.41.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Tuesday, October 29th. The company reported ($0.91) earnings per share for the quarter, beating the consensus estimate of ($0.94) by $0.03. Analysts anticipate that Biomea Fusion will post -4.09 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Michael J.M. Hitchcock acquired 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $10.06 per share, for a total transaction of $100,600.00. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $150,900. This trade represents a 200.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 27.57% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BMEA. PNC Financial Services Group Inc. acquired a new position in shares of Biomea Fusion in the fourth quarter valued at approximately $116,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Biomea Fusion by 12.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,513 shares of the company’s stock worth $232,000 after acquiring an additional 1,712 shares during the period. Capstone Investment Advisors LLC acquired a new position in Biomea Fusion in the 1st quarter valued at $182,000. SG Americas Securities LLC purchased a new position in shares of Biomea Fusion during the 1st quarter worth $462,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Biomea Fusion by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,365,625 shares of the company’s stock worth $20,416,000 after purchasing an additional 15,626 shares during the last quarter. Institutional investors and hedge funds 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.