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

HC Wainwright restated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $40.00 target price on the stock.

Several other analysts have also commented on BMEA. D. Boral Capital reissued a “buy” rating and set a $128.00 target price on shares of Biomea Fusion in a research note on Friday, January 10th. Scotiabank increased their price objective on Biomea Fusion from $21.00 to $41.00 and gave the company a “sector outperform” rating in a research report on Friday, September 27th. EF Hutton Acquisition Co. I upgraded Biomea Fusion to a “strong-buy” rating in a report on Wednesday, October 9th. Piper Sandler upped their target price on Biomea Fusion from $10.00 to $19.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, RODMAN&RENSHAW raised Biomea Fusion to a “strong-buy” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $39.36.

Biomea Fusion Stock Performance

Shares of BMEA stock opened at $4.15 on Tuesday. Biomea Fusion has a 1 year low of $3.61 and a 1 year high of $20.21. The business’s fifty day moving average is $5.64 and its 200-day moving average is $6.96. The stock has a market cap of $150.39 million, a PE ratio of -1.03 and a beta of -0.35.

Biomea Fusion (NASDAQ:BMEA) last released its earnings results on Tuesday, October 29th. The company reported ($0.91) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.03. Equities research analysts predict that Biomea Fusion will post -3.93 earnings per share for the current year.

Institutional Trading of Biomea Fusion

A number of hedge funds have recently made changes to their positions in BMEA. Point72 Asia Singapore Pte. Ltd. purchased a new position in Biomea Fusion during the second quarter valued at approximately $36,000. Scientech Research LLC purchased a new position in shares of Biomea Fusion during the 2nd quarter valued at $46,000. DRW Securities LLC purchased a new position in shares of Biomea Fusion during the 2nd quarter valued at $55,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Biomea Fusion by 64.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company’s stock worth $70,000 after acquiring an additional 2,741 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Biomea Fusion during the second quarter worth $109,000. 96.72% of the stock is owned by hedge funds and other institutional investors.

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.