Biomea Fusion (NASDAQ:BMEA) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of Biomea Fusion (NASDAQ:BMEA) from a hold rating to a sell rating in a research note released on Sunday morning,Wall Street Zen reports.

Other equities analysts also recently issued reports about 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. HC Wainwright reissued a “buy” rating on shares of Biomea Fusion in a report on Monday, August 24th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $9.00.

Biomea Fusion Price Performance

Shares of Biomea Fusion stock opened at $2.03 on Friday. The company has a market cap of $147.13 million, a price-to-earnings ratio of -7.00 and a beta of -0.23. The company’s 50 day moving average is $1.40 and its 200 day moving average is $1.42. Biomea Fusion has a twelve month low of $0.87 and a twelve month high of $2.99.

Biomea Fusion (NASDAQ:BMEA) last posted its earnings results on Thursday, August 6th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.10. Sell-side analysts expect that Biomea Fusion will post -0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. ADAR1 Capital Management LLC purchased a new stake in shares of Biomea Fusion in the 2nd quarter worth $64,000. BlackRock Inc. bought a new stake in Biomea Fusion during the second quarter valued at about $1,052,000. GSA Capital Partners LLP bought a new stake in Biomea Fusion during the second quarter valued at about $318,000. Rathbones Group PLC purchased a new stake in Biomea Fusion in the first quarter worth about $57,000. Finally, Renaissance Technologies LLC lifted its position in shares of Biomea Fusion by 174.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company’s stock valued at $2,009,000 after buying an additional 834,179 shares in the last quarter. Hedge funds and other institutional investors own 96.72% of the company’s stock.

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.