Biomea Fusion (NASDAQ:BMEA) Posts Earnings Results

Biomea Fusion (NASDAQ:BMEA) posted its quarterly earnings results on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.12, FiscalAI reports.

Biomea Fusion Stock Performance

Shares of NASDAQ BMEA traded down $0.05 during midday trading on Tuesday, reaching $0.55. 716,884 shares of the company traded hands, compared to its average volume of 1,487,967. Biomea Fusion has a 12 month low of $0.54 and a 12 month high of $2.24. The firm has a market cap of $39.65 million, a PE ratio of -1.89 and a beta of -0.14. The stock’s 50-day simple moving average is $1.23 and its 200-day simple moving average is $1.35.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price objective on shares of Biomea Fusion in a report on Wednesday, October 14th. Citizens Jmp reiterated a “market outperform” rating and issued a $7.00 target price on shares of Biomea Fusion in a report on Wednesday, October 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biomea Fusion in a research report on Monday, September 28th. Citigroup reiterated a “market outperform” rating on shares of Biomea Fusion in a research note on Wednesday, September 30th. Finally, Wall Street Zen lowered shares of Biomea Fusion from a “hold” rating to a “sell” rating in a research report on Saturday, October 24th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.60.

About Biomea Fusion

Biomea Fusion, Inc. is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for cancer and metabolic diseases. The company uses its proprietary FUSION System to discover and develop covalent medicines designed to engage disease-relevant protein targets. Biomea’s lead investigational product is BMF-219, an oral, selective covalent inhibitor of menin. The company has evaluated BMF-219 in clinical studies for certain hematologic malignancies and solid tumors, including acute leukemias and multiple myeloma, and has also investigated its potential in metabolic diseases such as type 2 diabetes.