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

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have been assigned a consensus recommendation of “Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $39.36.

Several research firms have issued reports on BMEA. D. Boral Capital reaffirmed a “buy” rating and set a $128.00 price target on shares of Biomea Fusion in a research report on Friday, January 10th. Barclays upped their target price on shares of Biomea Fusion from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. HC Wainwright reiterated a “buy” rating and set a $40.00 price target on shares of Biomea Fusion in a report on Tuesday, January 14th. Piper Sandler upped their price objective on Biomea Fusion from $10.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, EF Hutton Acquisition Co. I upgraded Biomea Fusion to a “strong-buy” rating in a research note on Wednesday, October 9th.

Biomea Fusion Stock Up 1.3 %

NASDAQ:BMEA opened at $3.98 on Wednesday. Biomea Fusion has a twelve month low of $3.61 and a twelve month high of $19.89. The firm has a market capitalization of $144.23 million, a price-to-earnings ratio of -0.99 and a beta of -0.34. The stock’s 50 day moving average price is $4.74 and its two-hundred day moving average price is $6.89.

Hedge Funds Weigh In On Biomea Fusion

Institutional investors and hedge funds have recently modified their holdings of the business. Griffin Asset Management Inc. grew its position in shares of Biomea Fusion by 147.0% during the 3rd quarter. Griffin Asset Management Inc. now owns 96,070 shares of the company’s stock worth $970,000 after purchasing an additional 57,180 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Biomea Fusion during the second quarter worth approximately $237,000. FMR LLC increased its stake in 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 during the period. Wexford Capital LP raised its holdings in Biomea Fusion by 26.9% in the 3rd quarter. Wexford Capital LP now owns 130,336 shares of the company’s stock valued at $1,316,000 after acquiring an additional 27,619 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Biomea Fusion during the 2nd quarter valued at $109,000. 96.72% of the stock is currently owned by institutional investors and hedge funds.

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.