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

Biomea Fusion, Inc. (NASDAQ:BMEA) has been given an average rating of “Moderate Buy” by the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $29.40.

A number of analysts recently commented on the stock. Capital One Financial initiated coverage on shares of Biomea Fusion in a report on Thursday, August 29th. They set an “overweight” rating and a $25.00 price objective on the stock. HC Wainwright upped their price target on shares of Biomea Fusion from $15.00 to $40.00 and gave the company a “buy” rating in a report on Friday, September 27th. RODMAN&RENSHAW raised shares of Biomea Fusion to a “strong-buy” rating in a report on Thursday, September 26th. Barclays upped their price target on shares of Biomea Fusion from $5.00 to $9.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Finally, Citigroup reduced their price target on shares of Biomea Fusion from $45.00 to $22.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th.

Biomea Fusion Trading Down 0.5 %

BMEA stock opened at $10.43 on Thursday. The company has a market cap of $374.91 million, a P/E ratio of -2.92 and a beta of -0.43. Biomea Fusion has a 52 week low of $3.61 and a 52 week high of $22.74. The company’s 50-day moving average price is $7.35 and its 200 day moving average price is $8.68.

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

Insiders Place Their Bets

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

Institutional Trading of Biomea Fusion

A number of hedge funds have recently added to or reduced their stakes in BMEA. Renaissance Technologies LLC acquired a new stake in Biomea Fusion in the 2nd quarter worth about $1,481,000. Squarepoint Ops LLC purchased a new position in shares of Biomea Fusion in the 2nd quarter worth about $237,000. XTX Topco Ltd purchased a new position in shares of Biomea Fusion in the 2nd quarter worth about $207,000. iA Global Asset Management Inc. purchased a new position in shares of Biomea Fusion in the 2nd quarter worth about $174,000. Finally, SG Americas Securities LLC purchased a new position in shares of Biomea Fusion in the 1st quarter worth about $462,000. 96.72% of the stock is owned by institutional investors and hedge funds.

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.