HC Wainwright Reaffirms “Buy” Rating for Biomea Fusion (NASDAQ:BMEA)

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $40.00 price objective on the stock.

Separately, D. Boral Capital restated a “buy” rating and set a $16.00 price target on shares of Biomea Fusion in a research report on Wednesday, March 19th. Two analysts have rated the stock with a hold rating, nine have assigned 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 $29.18.

Biomea Fusion Stock Down 3.6 %

Shares of NASDAQ BMEA opened at $2.69 on Monday. The stock has a market cap of $97.48 million, a P/E ratio of -0.67 and a beta of -0.26. The firm’s 50-day simple moving average is $3.41 and its 200 day simple moving average is $6.10. Biomea Fusion has a fifty-two week low of $2.35 and a fifty-two week high of $16.29.

Hedge Funds Weigh In On Biomea Fusion

Several hedge funds have recently made changes to their positions in the business. FMR LLC lifted its stake in 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 purchasing an additional 39,959 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Biomea Fusion by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 601,479 shares of the company’s stock valued at $6,076,000 after acquiring an additional 4,291 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Biomea Fusion by 104.4% during the 4th quarter. Two Sigma Investments LP now owns 559,930 shares of the company’s stock worth $2,173,000 after acquiring an additional 286,049 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Biomea Fusion by 290.7% during the 4th quarter. Two Sigma Advisers LP now owns 459,500 shares of the company’s stock worth $1,783,000 after acquiring an additional 341,900 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Biomea Fusion by 317.7% in the 4th quarter. Renaissance Technologies LLC now owns 343,732 shares of the company’s stock worth $1,334,000 after acquiring an additional 261,432 shares during the last quarter. Institutional investors and hedge funds 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.