Biomea Fusion’s (BMEA) Buy Rating Reaffirmed at HC Wainwright

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $40.00 price target on the stock.

A number of other research analysts have also recently issued reports on BMEA. EF Hutton Acquisition Co. I upgraded Biomea Fusion to a “strong-buy” rating in a research report on Wednesday, October 9th. Truist Financial raised shares of Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Friday, September 27th. Citigroup dropped their price objective on shares of Biomea Fusion from $45.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Scotiabank boosted their target price on shares of Biomea Fusion from $21.00 to $41.00 and gave the stock a “sector outperform” rating in a research note on Friday, September 27th. Finally, Barclays increased their price target on Biomea Fusion from $9.00 to $11.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $39.36.

Biomea Fusion Trading Down 5.1 %

Shares of Biomea Fusion stock opened at $5.79 on Tuesday. The company has a market cap of $209.83 million, a PE ratio of -1.44 and a beta of -0.53. The company has a 50 day moving average of $8.94 and a 200-day moving average of $7.49. Biomea Fusion has a 1-year low of $3.61 and a 1-year high of $20.21.

Biomea Fusion (NASDAQ:BMEA) last released its earnings results on Tuesday, October 29th. The company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.03. Research analysts forecast that Biomea Fusion will post -3.93 earnings per share for the current year.

Insider Transactions at Biomea Fusion

In other news, Director Michael J.M. Hitchcock bought 10,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average price of $10.06 per share, with a total value of $100,600.00. Following the completion of the purchase, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $150,900. This represents a 200.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 27.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Biomea Fusion

Several institutional investors and hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. grew its position in shares of Biomea Fusion by 64.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company’s stock worth $70,000 after buying an additional 2,741 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Biomea Fusion during the second quarter worth $36,000. High Net Worth Advisory Group LLC acquired a new stake in Biomea Fusion in the second quarter worth $45,000. Scientech Research LLC acquired a new position in shares of Biomea Fusion during the second quarter valued at about $46,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Biomea Fusion during the 3rd quarter worth about $111,000. Institutional investors own 96.72% of the company’s stock.

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.