Biomea Fusion, Inc. (NASDAQ:BMEA) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $8.8750.

BMEA has been the topic of a number of analyst reports. Citigroup cut their price objective on shares of Biomea Fusion from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Biomea Fusion in a report on Wednesday, October 8th. D. Boral Capital decreased their price objective on shares of Biomea Fusion from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group assumed coverage on Biomea Fusion in a research note on Thursday, August 28th. They set a “buy” rating and a $5.00 target price on the stock.

Biomea Fusion Price Performance

Shares of BMEA stock opened at $1.35 on Tuesday. The company has a market cap of $95.45 million, a PE ratio of -0.56 and a beta of -0.14. Biomea Fusion has a 1 year low of $0.87 and a 1 year high of $6.44. The stock’s 50 day simple moving average is $1.42 and its two-hundred day simple moving average is $1.73.

Biomea Fusion (NASDAQ:BMEA) last announced its earnings results on Tuesday, November 4th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.01). Equities research analysts expect that Biomea Fusion will post -3.93 EPS for the current year.

Institutional Trading of Biomea Fusion

A number of hedge funds and other institutional investors have recently bought and sold shares of BMEA. Scientech Research LLC purchased a new stake in shares of Biomea Fusion during the third quarter valued at $25,000. Engineers Gate Manager LP bought a new stake in Biomea Fusion during the 2nd quarter valued at about $26,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Biomea Fusion in the 3rd quarter valued at about $32,000. CWM LLC grew its stake in Biomea Fusion by 8,058.5% in the 1st quarter. CWM LLC now owns 16,888 shares of the company’s stock worth $36,000 after acquiring an additional 16,681 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Biomea Fusion during the third quarter worth approximately $39,000. Hedge funds and other 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.