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

Biomea Fusion, Inc. (NASDAQ:BMEA) has earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $8.50.

A number of research analysts have recently issued reports on the company. Weiss Ratings downgraded Biomea Fusion from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, July 1st. Citigroup started coverage on Biomea Fusion in a report on Tuesday, May 5th. They set an “outperform” rating for the company. Wall Street Zen cut shares of Biomea Fusion from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Citizens Jmp initiated coverage on shares of Biomea Fusion in a research report on Tuesday, May 5th. They set a “market outperform” rating and a $9.00 price target for the company. Finally, D. Boral Capital reissued a “buy” rating and issued a $12.00 target price on shares of Biomea Fusion in a research report on Tuesday, April 28th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Scientech Research LLC purchased a new position in shares of Biomea Fusion during the third quarter valued at about $25,000. Engineers Gate Manager LP bought a new position in Biomea Fusion in the 2nd quarter valued at approximately $26,000. Millennium Management LLC boosted its position in shares of Biomea Fusion by 156.7% during the fourth quarter. Millennium Management LLC now owns 25,677 shares of the company’s stock valued at $32,000 after buying an additional 15,675 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Biomea Fusion in the third quarter worth approximately $39,000. Finally, ADAR1 Capital Management LLC bought a new stake in Biomea Fusion in the 4th quarter worth approximately $54,000. 96.72% of the stock is owned by institutional investors.

Biomea Fusion Stock Performance

Shares of Biomea Fusion stock opened at $1.28 on Wednesday. The stock has a market cap of $92.54 million, a PE ratio of -1.88 and a beta of -0.31. Biomea Fusion has a 52-week low of $0.87 and a 52-week high of $2.99. The firm has a 50-day moving average of $1.32 and a 200-day moving average of $1.39.

Biomea Fusion (NASDAQ:BMEA) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.07. Equities research analysts predict that Biomea Fusion will post -0.82 earnings per share for the current fiscal year.

About Biomea Fusion

Biomea Fusion, Inc (NASDAQ:BMEA) is a clinical‐stage biopharmaceutical company headquartered in Carlsbad, California. The company is dedicated to the discovery and development of small molecule therapies that target epigenetic regulators implicated in cancer. By leveraging a proprietary chemistry and drug discovery platform, Biomea Fusion aims to design precision medicines that modulate gene expression pathways involved in the initiation and progression of hematological malignancies and solid tumors.

The company’s lead clinical asset, BMF-219, is an orally bioavailable inhibitor of the menin–mixed‐lineage leukemia (MLL) protein–protein interaction.