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

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have received a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $8.7778.

A number of equities research analysts have issued reports on BMEA shares. Rodman & Renshaw started coverage on Biomea Fusion in a research report on Tuesday, January 13th. They set a “buy” rating and a $8.00 price objective on the stock. D. Boral Capital reissued a “buy” rating and set a $12.00 target price on shares of Biomea Fusion in a research report on Tuesday, January 13th. Citigroup lowered their price target on Biomea Fusion from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biomea Fusion in a research note on Wednesday.

Insider Activity at Biomea Fusion

In other news, insider Rainer M. Erdtmann purchased 30,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were bought at an average cost of $1.43 per share, for a total transaction of $42,900.00. Following the acquisition, the insider owned 723,027 shares of the company’s stock, valued at approximately $1,033,928.61. This trade represents a 4.33% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 18.42% of the company’s stock.

Institutional Trading of Biomea Fusion

Several institutional investors have recently added to or reduced their stakes in the company. Griffin Asset Management Inc. grew its stake in Biomea Fusion by 19.5% in the third quarter. Griffin Asset Management Inc. now owns 61,300 shares of the company’s stock worth $124,000 after purchasing an additional 10,000 shares in the last quarter. Scientech Research LLC purchased a new stake in shares of Biomea Fusion in the 3rd quarter worth $25,000. Engineers Gate Manager LP bought a new position in shares of Biomea Fusion during the 2nd quarter worth $26,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Biomea Fusion during the 3rd quarter worth $32,000. Finally, Virtu Financial LLC purchased a new position in shares of Biomea Fusion during the third quarter valued at $39,000. Institutional investors own 96.72% of the company’s stock.

Biomea Fusion Stock Down 6.3%

BMEA stock opened at $1.34 on Wednesday. Biomea Fusion has a 52 week low of $0.87 and a 52 week high of $4.59. The firm has a market capitalization of $94.74 million, a P/E ratio of -0.56 and a beta of -0.16. The company has a fifty day simple moving average of $1.28 and a two-hundred day simple moving average of $1.58.

Biomea Fusion (NASDAQ:BMEA) last announced its earnings results on Tuesday, November 4th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.01). As a group, analysts anticipate that Biomea Fusion will post -3.93 EPS for the current year.

Biomea Fusion Company Profile

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.