Analysts Set Biomea Fusion, Inc. (NASDAQ:BMEA) PT at $53.13

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $53.13.

Several research analysts have issued reports on BMEA shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $14.00 price objective (down from $51.00) on shares of Biomea Fusion in a research note on Tuesday, April 2nd. Oppenheimer restated an “outperform” rating and set a $70.00 target price on shares of Biomea Fusion in a report on Wednesday, April 3rd. Truist Financial restated a “buy” rating and set a $55.00 target price on shares of Biomea Fusion in a report on Monday, April 1st. Finally, HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Biomea Fusion in a report on Monday, April 1st.

Biomea Fusion Price Performance

Biomea Fusion stock opened at $12.51 on Thursday. The stock has a fifty day moving average price of $15.93 and a two-hundred day moving average price of $14.19. Biomea Fusion has a 52-week low of $8.13 and a 52-week high of $43.69. The firm has a market capitalization of $448.98 million, a P/E ratio of -3.62 and a beta of -0.52.

Hedge Funds Weigh In On Biomea Fusion

Hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. bought a new position in Biomea Fusion in the second quarter valued at about $36,000. Signaturefd LLC bought a new position in Biomea Fusion in the fourth quarter valued at about $36,000. Tower Research Capital LLC TRC boosted its holdings in Biomea Fusion by 316.3% in the third quarter. Tower Research Capital LLC TRC now owns 3,251 shares of the company’s stock valued at $45,000 after acquiring an additional 2,470 shares during the last quarter. Grove Bank & Trust bought a new position in Biomea Fusion in the fourth quarter valued at about $56,000. Finally, UBS Group AG boosted its holdings in Biomea Fusion by 3,980.0% in the third quarter. UBS Group AG now owns 4,080 shares of the company’s stock valued at $40,000 after acquiring an additional 3,980 shares during the last quarter. 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, an orally bioavailable, potent, and selective covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.