Biomea Fusion (NASDAQ:BMEA) Research Coverage Started at Rodman & Renshaw

Rodman & Renshaw began coverage on shares of Biomea Fusion (NASDAQ:BMEA) in a research note published on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $8.00 target price on the stock.

A number of other equities analysts have also issued reports on BMEA. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biomea Fusion in a research report on Wednesday, October 8th. D. Boral Capital reiterated a “buy” rating and set a $12.00 price target on shares of Biomea Fusion in a research report on Tuesday. Finally, Citigroup lowered their price objective on Biomea Fusion from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Biomea Fusion currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.78.

Biomea Fusion Price Performance

Shares of BMEA stock opened at $1.40 on Tuesday. The stock’s 50 day simple moving average is $1.27 and its two-hundred day simple moving average is $1.60. Biomea Fusion has a 1 year low of $0.87 and a 1 year high of $4.59. The company has a market cap of $98.63 million, a PE ratio of -0.58 and a beta of -0.16.

Biomea Fusion (NASDAQ:BMEA) last issued 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.

Insider Activity at Biomea Fusion

In other news, insider Rainer M. Erdtmann acquired 30,000 shares of Biomea Fusion stock in a transaction that occurred on Thursday, December 11th. The shares were acquired at an average price of $1.43 per share, with a total value of $42,900.00. Following the completion of the purchase, the insider owned 723,027 shares of the company’s stock, valued at approximately $1,033,928.61. This represents a 4.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.42% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Biomea Fusion

Several large investors have recently made changes to their positions in BMEA. Scientech Research LLC acquired a new stake in Biomea Fusion in the third quarter valued at $25,000. Engineers Gate Manager LP bought a new stake in shares of Biomea Fusion in the 2nd quarter worth about $26,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Biomea Fusion in the 3rd quarter valued at about $32,000. Virtu Financial LLC acquired a new stake in shares of Biomea Fusion in the 3rd quarter valued at about $39,000. Finally, Marex Group plc bought a new position in shares of Biomea Fusion during the second quarter worth about $81,000. Institutional investors and hedge funds own 96.72% of the company’s stock.

About Biomea Fusion

Biomea Fusion, Inc (NASDAQ:BMEA) is a clinical‐stage biopharmaceutical company headquartered in Carlsbad, California. The company is dedicated to the discovery and development of small molecule therapies that target epigenetic regulators implicated in cancer. By leveraging a proprietary chemistry and drug discovery platform, Biomea Fusion aims to design precision medicines that modulate gene expression pathways involved in the initiation and progression of hematological malignancies and solid tumors.

The company’s lead clinical asset, BMF-219, is an orally bioavailable inhibitor of the menin–mixed‐lineage leukemia (MLL) protein–protein interaction.