Recent Analysts’ Ratings Updates for Biomea Fusion (BMEA)

A number of research firms have changed their ratings and price targets for Biomea Fusion (NASDAQ: BMEA):

• 6/11/2024 – Biomea Fusion was downgraded by analysts at Truist Financial Co. from a “buy” rating to a “hold” rating.
• 6/7/2024 – Biomea Fusion had its price target lowered by analysts at Scotiabank from $41.00 to $21.00. They now have a “sector outperform” rating on the stock.
• 6/7/2024 – Biomea Fusion had its price target lowered by analysts at Piper Sandler from $45.00 to $10.00. They now have an “overweight” rating on the stock.
• 6/7/2024 – Biomea Fusion was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating. They now have a $5.00 price target on the stock, down previously from $30.00.
• 6/7/2024 – Biomea Fusion had its price target lowered by analysts at Citigroup Inc. from $90.00 to $45.00. They now have a “buy” rating on the stock.
• 6/7/2024 – Biomea Fusion had its price target lowered by analysts at HC Wainwright from $50.00 to $15.00. They now have a “buy” rating on the stock.
• 5/30/2024 – Biomea Fusion had its price target lowered by analysts at Oppenheimer Holdings Inc. from $70.00 to $60.00. They now have an “outperform” rating on the stock.
• 5/3/2024 – Biomea Fusion had its price target raised by analysts at JPMorgan Chase & Co. from $14.00 to $15.00. They now have a “neutral” rating on the stock.
• 5/3/2024 – Biomea Fusion had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $50.00 price target on the stock.

Biomea Fusion Price Performance

NASDAQ BMEA traded down $0.52 during mid-day trading on Monday, hitting $5.12. The stock had a trading volume of 1,420,589 shares, compared to its average volume of 1,132,409. The firm’s 50 day moving average is $10.79 and its 200 day moving average is $14.13. Biomea Fusion, Inc. has a twelve month low of $3.61 and a twelve month high of $37.09. The stock has a market capitalization of $184.01 million, a price-to-earnings ratio of -1.43 and a beta of -0.35.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Thursday, May 2nd. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.07). As a group, equities research analysts expect that Biomea Fusion, Inc. will post -4.09 earnings per share for the current year.

Institutional Trading of Biomea Fusion

A number of hedge funds and other institutional investors have recently modified their holdings of BMEA. Laurion Capital Management LP grew its holdings in shares of Biomea Fusion by 16.5% during the 3rd quarter. Laurion Capital Management LP now owns 2,613,135 shares of the company’s stock worth $35,957,000 after purchasing an additional 369,448 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in Biomea Fusion by 125.0% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 180,000 shares of the company’s stock valued at $2,477,000 after acquiring an additional 100,000 shares during the period. Rafferty Asset Management LLC boosted its holdings in Biomea Fusion by 70.8% during the 3rd quarter. Rafferty Asset Management LLC now owns 233,848 shares of the company’s stock valued at $3,218,000 after acquiring an additional 96,945 shares during the period. Citigroup Inc. boosted its holdings in Biomea Fusion by 113.8% during the 3rd quarter. Citigroup Inc. now owns 116,134 shares of the company’s stock valued at $1,598,000 after acquiring an additional 61,810 shares during the period. Finally, FMR LLC boosted its holdings in Biomea Fusion by 0.6% during the 3rd quarter. FMR LLC now owns 5,344,191 shares of the company’s stock valued at $73,536,000 after acquiring an additional 34,026 shares during the period. 96.72% of the stock is owned by institutional investors and hedge funds.

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.