Biomea Fusion (NASDAQ:BMEA) Earns Buy Rating from D. Boral Capital

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating restated by D. Boral Capital in a report issued on Tuesday,Benzinga reports. They presently have a $128.00 target price on the stock.

BMEA has been the subject of several other research reports. Barclays boosted their target price on shares of Biomea Fusion from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Piper Sandler upped their price objective on shares of Biomea Fusion from $10.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Biomea Fusion in a research report on Monday. EF Hutton Acquisition Co. I upgraded shares of Biomea Fusion to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Citigroup cut their price target on shares of Biomea Fusion from $45.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $39.36.

Biomea Fusion Trading Down 16.4 %

Shares of BMEA opened at $3.88 on Tuesday. The firm’s 50-day moving average is $8.24 and its two-hundred day moving average is $7.24. The firm has a market capitalization of $140.61 million, a P/E ratio of -0.97 and a beta of -0.53. Biomea Fusion has a twelve month low of $3.61 and a twelve month high of $20.21.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.94) by $0.03. Analysts predict that Biomea Fusion will post -3.93 EPS for the current year.

Insider Transactions at Biomea Fusion

In other Biomea Fusion news, Director Michael J.M. Hitchcock acquired 10,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was purchased at an average price of $10.06 per share, with a total value of $100,600.00. Following the completion of the acquisition, the director now directly owns 15,000 shares in the company, valued at $150,900. This trade represents a 200.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 27.57% of the company’s stock.

Hedge Funds Weigh In On Biomea Fusion

A number of large investors have recently bought and sold shares of the business. FMR LLC boosted its holdings in shares of Biomea Fusion by 0.7% during the third quarter. FMR LLC now owns 5,431,525 shares of the company’s stock valued at $54,858,000 after acquiring an additional 39,959 shares during the period. Geode Capital Management LLC grew its position in Biomea Fusion by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 601,479 shares of the company’s stock worth $6,076,000 after purchasing an additional 4,291 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Biomea Fusion in the second quarter valued at approximately $1,481,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Biomea Fusion by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 208,391 shares of the company’s stock valued at $2,105,000 after buying an additional 7,551 shares during the last quarter. Finally, Wexford Capital LP boosted its position in shares of Biomea Fusion by 26.9% during the third quarter. Wexford Capital LP now owns 130,336 shares of the company’s stock worth $1,316,000 after buying an additional 27,619 shares during the period. Institutional investors own 96.72% of the company’s stock.

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.