Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $9.57 Consensus PT from Analysts

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $9.5714.

Several equities research analysts have recently weighed in on the company. D. Boral Capital reissued a “buy” rating and set a $12.00 price objective on shares of Biomea Fusion in a research note on Wednesday. Rodman & Renshaw started coverage on Biomea Fusion in a research note on Tuesday, January 13th. They set a “buy” rating and a $8.00 price objective for the company. Wall Street Zen upgraded Biomea Fusion from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings restated a “sell (e+)” rating on shares of Biomea Fusion in a report on Wednesday, January 21st. Finally, Citigroup increased their target price on Biomea Fusion from $6.00 to $7.00 and gave the company a “buy” rating in a report on Friday, March 27th.

Biomea Fusion Stock Down 7.4%

BMEA opened at $1.76 on Monday. The firm has a market cap of $127.25 million, a PE ratio of -1.34 and a beta of -0.25. The business has a fifty day simple moving average of $1.33 and a 200-day simple moving average of $1.40. Biomea Fusion has a fifty-two week low of $0.87 and a fifty-two week high of $3.08.

Institutional Trading of Biomea Fusion

Hedge funds have recently modified their holdings of the business. ADAR1 Capital Management LLC purchased a new stake in shares of Biomea Fusion in the fourth quarter valued at $54,000. Jain Global LLC purchased a new stake in shares of Biomea Fusion in the fourth quarter valued at $68,000. Barclays PLC lifted its holdings in shares of Biomea Fusion by 1,731.0% in the fourth quarter. Barclays PLC now owns 59,013 shares of the company’s stock valued at $73,000 after purchasing an additional 55,790 shares in the last quarter. Scientech Research LLC purchased a new stake in shares of Biomea Fusion in the third quarter valued at $25,000. Finally, Virtu Financial LLC purchased a new stake in shares of Biomea Fusion in the third quarter valued at $39,000. Hedge funds and other institutional investors 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.