Brokerages Set Biomea Fusion, Inc. (NASDAQ:BMEA) PT at $24.64

Biomea Fusion, Inc. (NASDAQ:BMEA) has been assigned a consensus recommendation of “Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $24.64.

A number of brokerages have weighed in on BMEA. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 target price on shares of Biomea Fusion in a research note on Monday, March 24th. D. Boral Capital restated a “buy” rating and issued a $16.00 price objective on shares of Biomea Fusion in a research report on Wednesday, March 19th. Finally, Oppenheimer set a $10.00 price objective on Biomea Fusion in a research report on Monday, March 24th.

Biomea Fusion Stock Down 7.6 %

Biomea Fusion stock opened at $2.30 on Thursday. The stock has a 50-day simple moving average of $3.32 and a 200 day simple moving average of $6.01. The stock has a market capitalization of $83.35 million, a price-to-earnings ratio of -0.57 and a beta of -0.26. Biomea Fusion has a 12-month low of $2.27 and a 12-month high of $16.29.

Institutional Investors Weigh In On Biomea Fusion

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new position in shares of Biomea Fusion during the 4th quarter worth about $317,000. Wexford Capital LP boosted its stake in Biomea Fusion by 2.3% during the 4th quarter. Wexford Capital LP now owns 133,343 shares of the company’s stock worth $517,000 after acquiring an additional 3,007 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Biomea Fusion by 290.7% during the fourth quarter. Two Sigma Advisers LP now owns 459,500 shares of the company’s stock valued at $1,783,000 after purchasing an additional 341,900 shares during the period. Two Sigma Investments LP increased its stake in Biomea Fusion by 104.4% in the fourth quarter. Two Sigma Investments LP now owns 559,930 shares of the company’s stock valued at $2,173,000 after purchasing an additional 286,049 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Biomea Fusion in the fourth quarter worth $766,000. Institutional investors own 96.72% of the company’s stock.

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.