Biomea Fusion (NASDAQ:BMEA) Upgraded at Rodman & Renshaw

Rodman & Renshaw upgraded shares of Biomea Fusion (NASDAQ:BMEA) from a neutral rating to a buy rating in a research note issued to investors on Thursday, Marketbeat.com reports. The firm currently has $18.00 price target on the stock.

Other analysts have also issued reports about the stock. Citigroup cut their target price on shares of Biomea Fusion from $45.00 to $22.00 and set a buy rating on the stock in a research note on Tuesday, August 27th. Capital One Financial assumed coverage on shares of Biomea Fusion in a report on Thursday, August 29th. They set an overweight rating and a $25.00 price target for the company. Scotiabank reduced their price objective on shares of Biomea Fusion from $41.00 to $21.00 and set a sector outperform rating on the stock in a report on Friday, June 7th. HC Wainwright reiterated a buy rating and issued a $15.00 price objective on shares of Biomea Fusion in a report on Thursday, August 1st. Finally, Truist Financial downgraded shares of Biomea Fusion from a buy rating to a hold rating in a research report on Tuesday, June 11th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $29.40.

Biomea Fusion Stock Up 3.4 %

NASDAQ:BMEA opened at $9.90 on Thursday. Biomea Fusion has a 52 week low of $3.61 and a 52 week high of $22.74. The company has a fifty day simple moving average of $6.89 and a two-hundred day simple moving average of $8.96. The company has a market cap of $358.48 million, a price-to-earnings ratio of -2.77 and a beta of -0.47.

Biomea Fusion (NASDAQ:BMEA) last released its earnings results on Wednesday, July 31st. The company reported ($1.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.03). On average, analysts expect that Biomea Fusion will post -4.09 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Biomea Fusion by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,365,625 shares of the company’s stock worth $20,416,000 after purchasing an additional 15,626 shares during the period. Renaissance Technologies LLC purchased a new position in Biomea Fusion during the 2nd quarter worth $1,481,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Biomea Fusion by 0.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 177,602 shares of the company’s stock worth $2,656,000 after acquiring an additional 1,028 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Biomea Fusion by 46.0% in the second quarter. Bank of New York Mellon Corp now owns 93,317 shares of the company’s stock valued at $420,000 after acquiring an additional 29,400 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Biomea Fusion by 90.8% during the second quarter. SG Americas Securities LLC now owns 59,009 shares of the company’s stock worth $266,000 after acquiring an additional 28,085 shares during the period. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

Biomea Fusion Company Profile

Biomea Fusion, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of covalent small molecule drugs to treat patients with genetically defined cancers and metabolic diseases. Its lead product candidate is BMF-219, a covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.