Biomea Fusion (NASDAQ:BMEA) Stock Rating Upgraded by Wall Street Zen

Biomea Fusion (NASDAQ:BMEA) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Monday, Wall Street Zen reports.

Other analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biomea Fusion in a report on Monday, September 28th. HC Wainwright reissued a “buy” rating on shares of Biomea Fusion in a report on Monday, August 24th. Finally, Citigroup restated a “market outperform” rating on shares of Biomea Fusion in a research report on Wednesday, September 30th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Biomea Fusion Price Performance

BMEA stock opened at $1.25 on Monday. Biomea Fusion has a 1-year low of $0.87 and a 1-year high of $2.24. The business has a fifty day moving average price of $1.51 and a 200-day moving average price of $1.46. The stock has a market capitalization of $90.60 million, a P/E ratio of -4.31 and a beta of -0.28.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.10. As a group, analysts anticipate that Biomea Fusion will post -0.73 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BMEA. Renaissance Technologies LLC increased its position in shares of 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 purchasing an additional 834,179 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Biomea Fusion in the second quarter worth approximately $1,052,000. GSA Capital Partners LLP purchased a new position in shares of Biomea Fusion in the second quarter worth approximately $318,000. ADAR1 Capital Management LLC purchased a new position in shares of Biomea Fusion in the second quarter worth approximately $64,000. Finally, Rathbones Group PLC bought a new stake in Biomea Fusion during the first quarter valued at approximately $57,000. Institutional investors own 96.72% of the company’s stock.

About Biomea Fusion

Biomea Fusion, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing small-molecule medicines for serious diseases with significant unmet medical needs. The company’s research platform is centered on covalent chemistry, an approach designed to create potentially durable interactions between medicines and their biological targets.

Biomea’s lead investigational product is icovamenib, formerly known as BMF-219, an oral covalent menin inhibitor. The company has evaluated icovamenib in oncology indications, including certain blood cancers, and is also investigating its potential in metabolic diseases such as diabetes.