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

Biomea Fusion, Inc. (NASDAQ:BMEA) has been assigned an average rating of “Moderate Buy” from the nine ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $9.50.

BMEA has been the topic of a number of recent research reports. Scotiabank dropped their price objective on shares of Biomea Fusion from $30.00 to $10.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, August 6th. Jefferies Financial Group initiated coverage on shares of Biomea Fusion in a research note on Thursday, August 28th. They issued a “buy” rating and a $5.00 price objective on the stock. D. Boral Capital restated a “buy” rating and issued a $16.00 price objective on shares of Biomea Fusion in a research note on Friday, October 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Biomea Fusion in a research note on Wednesday, October 8th. Finally, Citigroup dropped their price objective on shares of Biomea Fusion from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, August 11th.

Biomea Fusion Price Performance

Shares of NASDAQ:BMEA opened at $1.51 on Monday. The company’s fifty day moving average price is $1.88 and its 200 day moving average price is $1.87. Biomea Fusion has a 12 month low of $1.29 and a 12 month high of $12.85. The firm has a market capitalization of $89.86 million, a P/E ratio of -0.50 and a beta of -0.12.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.08. On average, sell-side analysts anticipate that Biomea Fusion will post -3.93 EPS for the current year.

Institutional Trading of Biomea Fusion

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in shares of Biomea Fusion by 98.0% in the fourth quarter. Bank of America Corp DE now owns 51,180 shares of the company’s stock valued at $199,000 after acquiring an additional 25,332 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Biomea Fusion by 90.0% in the first quarter. Oppenheimer & Co. Inc. now owns 165,937 shares of the company’s stock valued at $353,000 after acquiring an additional 78,579 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Biomea Fusion by 140.9% in the first quarter. Exchange Traded Concepts LLC now owns 50,550 shares of the company’s stock valued at $108,000 after acquiring an additional 29,565 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Biomea Fusion in the first quarter valued at about $575,000. Finally, CWM LLC boosted its holdings in shares of Biomea Fusion by 8,058.5% in the first quarter. CWM LLC now owns 16,888 shares of the company’s stock valued at $36,000 after acquiring an additional 16,681 shares in the last quarter. Hedge funds and other institutional investors own 96.72% of the company’s stock.

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.