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

HC Wainwright reiterated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research report report published on Thursday morning,Benzinga reports. They currently have a $40.00 price objective on the stock.

Several other research analysts also recently weighed in on the stock. Truist Financial upgraded shares of Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Friday, September 27th. Rodman & Renshaw upgraded Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Thursday, September 26th. Piper Sandler boosted their price target on Biomea Fusion from $10.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Capital One Financial began coverage on Biomea Fusion in a research note on Thursday, August 29th. They set an “overweight” rating and a $25.00 price objective for the company. Finally, Citigroup cut their target price on Biomea Fusion from $45.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $30.50.

Biomea Fusion Price Performance

NASDAQ BMEA traded up $0.16 during trading hours on Thursday, hitting $6.54. The company had a trading volume of 153,220 shares, compared to its average volume of 1,000,375. The firm’s 50 day moving average is $9.43 and its 200 day moving average is $7.98. The company has a market capitalization of $237.01 million, a price-to-earnings ratio of -1.68 and a beta of -0.41. Biomea Fusion has a fifty-two week low of $3.61 and a fifty-two week high of $22.74.

Biomea Fusion (NASDAQ:BMEA) last announced its earnings results on Tuesday, October 29th. The company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.03. On average, equities analysts anticipate that Biomea Fusion will post -3.93 EPS for the current year.

Insider Buying and Selling

In other Biomea Fusion news, Director Michael J.M. Hitchcock acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average price of $10.06 per share, for a total transaction of $100,600.00. Following the completion of the purchase, the director now directly owns 15,000 shares in the company, valued at $150,900. The trade was a 200.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 27.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Biomea Fusion

Several institutional investors have recently made changes to their positions in BMEA. FMR LLC lifted its holdings in shares of Biomea Fusion by 0.7% in the 3rd quarter. FMR LLC now owns 5,431,525 shares of the company’s stock worth $54,858,000 after purchasing an additional 39,959 shares during the last quarter. Vanguard Group Inc. lifted its stake in Biomea Fusion by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,365,625 shares of the company’s stock valued at $20,416,000 after buying an additional 15,626 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Biomea Fusion by 0.7% during the third quarter. Geode Capital Management LLC now owns 601,479 shares of the company’s stock valued at $6,076,000 after acquiring an additional 4,291 shares during the period. Renaissance Technologies LLC bought a new position in shares of Biomea Fusion during the second quarter worth about $1,481,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Biomea Fusion by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 208,391 shares of the company’s stock worth $2,105,000 after acquiring an additional 7,551 shares during the period. 96.72% of the stock is owned by institutional investors.

About Biomea Fusion

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.