Biomea Fusion, Inc. (NASDAQ:BMEA) Receives Average Recommendation of “Buy” from Analysts

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have received an average rating of “Buy” from the twelve brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $30.50.

A number of research firms have recently weighed in on BMEA. Capital One Financial assumed coverage on shares of Biomea Fusion in a report on Thursday, August 29th. They set an “overweight” rating and a $25.00 price target on the stock. Truist Financial raised Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Friday, September 27th. Barclays increased their price target on Biomea Fusion from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Wednesday. Piper Sandler upped their price objective on shares of Biomea Fusion from $10.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, RODMAN&RENSHAW upgraded shares of Biomea Fusion to a “strong-buy” rating in a research note on Thursday, September 26th.

Insider Activity at Biomea Fusion

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

Hedge Funds Weigh In On Biomea Fusion

A number of hedge funds and other institutional investors have recently made changes to their positions in BMEA. Price T Rowe Associates Inc. MD raised its position in Biomea Fusion by 0.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 177,602 shares of the company’s stock worth $2,656,000 after purchasing an additional 1,028 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Biomea Fusion by 12.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,513 shares of the company’s stock worth $232,000 after buying an additional 1,712 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in shares of Biomea Fusion by 64.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company’s stock worth $70,000 after buying an additional 2,741 shares during the period. Natixis boosted its stake in Biomea Fusion by 65.3% in the 1st quarter. Natixis now owns 19,500 shares of the company’s stock valued at $297,000 after buying an additional 7,700 shares in the last quarter. Finally, PNC Financial Services Group Inc. bought a new stake in Biomea Fusion in the fourth quarter valued at $116,000. 96.72% of the stock is owned by institutional investors.

Biomea Fusion Trading Down 3.5 %

NASDAQ BMEA opened at $9.04 on Monday. The firm’s fifty day simple moving average is $9.41 and its 200-day simple moving average is $8.34. Biomea Fusion has a 1-year low of $3.61 and a 1-year high of $22.74. The company has a market capitalization of $327.61 million, a PE ratio of -2.25 and a beta of -0.43.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.91) EPS for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.03. As a group, analysts predict that Biomea Fusion will post -4.09 EPS for the current year.

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.