Biomea Fusion (NASDAQ:BMEA) Rating Reiterated by HC Wainwright

HC Wainwright reiterated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a report released on Tuesday, Benzinga reports. The firm currently has a $15.00 price target on the stock.

A number of other brokerages have also issued reports on BMEA. Scotiabank dropped their price target on shares of Biomea Fusion from $41.00 to $21.00 and set a sector outperform rating on the stock in a research note on Friday, June 7th. JPMorgan Chase & Co. upped their price objective on shares of Biomea Fusion from $14.00 to $15.00 and gave the company a neutral rating in a research note on Friday, May 3rd. Citigroup dropped their price target on shares of Biomea Fusion from $90.00 to $45.00 and set a buy rating for the company in a research report on Friday, June 7th. Truist Financial downgraded shares of Biomea Fusion from a buy rating to a hold rating in a research note on Tuesday, June 11th. Finally, Barclays downgraded shares of Biomea Fusion from an overweight rating to an equal weight rating and dropped their price target for the stock from $30.00 to $5.00 in a research note on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $28.25.

Biomea Fusion Price Performance

Shares of NASDAQ BMEA opened at $4.53 on Tuesday. Biomea Fusion has a 1 year low of $3.61 and a 1 year high of $23.92. The company has a 50 day simple moving average of $9.46 and a 200-day simple moving average of $13.41. The company has a market capitalization of $162.81 million, a P/E ratio of -1.27 and a beta of -0.35.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BMEA. Signaturefd LLC acquired a new stake in Biomea Fusion during the 4th quarter worth approximately $36,000. Grove Bank & Trust bought a new position in shares of Biomea Fusion in the fourth quarter valued at $56,000. China Universal Asset Management Co. Ltd. boosted its position in Biomea Fusion by 348.5% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 4,131 shares of the company’s stock worth $60,000 after purchasing an additional 3,210 shares during the period. Quest Partners LLC acquired a new stake in shares of Biomea Fusion during the fourth quarter worth $79,000. Finally, Centaurus Financial Inc. acquired a new stake in shares of Biomea Fusion during the fourth quarter worth $102,000. 96.72% of the stock is currently owned by institutional investors and hedge funds.

About Biomea Fusion

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.