Biomea Fusion (NASDAQ:BMEA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Biomea Fusion (NASDAQ:BMEA) from a sell rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

Other analysts have also recently issued reports about the stock. Citigroup began coverage on shares of Biomea Fusion in a research note on Tuesday, May 5th. They issued an “outperform” rating for the company. Citizens Jmp assumed coverage on shares of Biomea Fusion in a report on Tuesday, May 5th. They issued a “market outperform” rating and a $9.00 price target for the company. HC Wainwright reiterated a “buy” rating on shares of Biomea Fusion in a research note on Monday, August 24th. Finally, Weiss Ratings lowered shares of Biomea Fusion from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 1st. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Biomea Fusion Stock Performance

Biomea Fusion stock opened at $1.68 on Friday. The stock has a market cap of $121.77 million, a PE ratio of -5.79 and a beta of -0.28. The stock has a 50-day moving average of $1.35 and a two-hundred day moving average of $1.40. Biomea Fusion has a one year low of $0.87 and a one year high of $2.99.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.10. As a group, sell-side analysts predict that Biomea Fusion will post -0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Biomea Fusion

Several hedge funds and other institutional investors have recently bought and sold shares of BMEA. Renaissance Technologies LLC lifted its stake in Biomea Fusion by 174.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company’s stock valued at $2,009,000 after acquiring an additional 834,179 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Biomea Fusion in the 4th quarter valued at $783,000. Geode Capital Management LLC increased its stake in shares of Biomea Fusion by 26.0% in the fourth quarter. Geode Capital Management LLC now owns 562,898 shares of the company’s stock worth $698,000 after acquiring an additional 116,024 shares during the period. XTX Topco Ltd increased its stake in shares of Biomea Fusion by 77.1% in the third quarter. XTX Topco Ltd now owns 265,303 shares of the company’s stock worth $536,000 after acquiring an additional 115,524 shares during the period. Finally, State Street Corp raised its holdings in shares of Biomea Fusion by 17.8% during the fourth quarter. State Street Corp now owns 165,115 shares of the company’s stock worth $205,000 after purchasing an additional 25,000 shares during the last quarter. 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.