Biomea Fusion, Inc. (NASDAQ:BMEA) Given Average Rating of “Buy” by Brokerages

Biomea Fusion, Inc. (NASDAQ:BMEA) has been given an average recommendation of “Buy” by the thirteen research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $39.36.

BMEA has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of Biomea Fusion in a research note on Tuesday, January 14th. D. Boral Capital reiterated a “buy” rating and issued a $128.00 price objective on shares of Biomea Fusion in a report on Friday, January 10th.

Institutional Trading of Biomea Fusion

A number of large investors have recently made changes to their positions in BMEA. Barclays PLC lifted its stake in Biomea Fusion by 156.3% in the third quarter. Barclays PLC now owns 39,620 shares of the company’s stock worth $401,000 after acquiring an additional 24,162 shares during the last quarter. Geode Capital Management LLC lifted its stake in Biomea Fusion by 0.7% in the third quarter. Geode Capital Management LLC now owns 601,479 shares of the company’s stock worth $6,076,000 after acquiring an additional 4,291 shares during the last quarter. SG Americas Securities LLC purchased a new position in Biomea Fusion in the fourth quarter worth approximately $58,000. FMR LLC lifted its holdings in Biomea Fusion by 0.7% during the 3rd quarter. FMR LLC now owns 5,431,525 shares of the company’s stock worth $54,858,000 after buying an additional 39,959 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Biomea Fusion by 3.8% during 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 in the last quarter. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

Biomea Fusion Stock Down 3.8 %

Shares of Biomea Fusion stock opened at $2.80 on Friday. Biomea Fusion has a 52 week low of $2.50 and a 52 week high of $18.40. The business’s fifty day simple moving average is $3.77 and its 200-day simple moving average is $6.52. The firm has a market cap of $101.47 million, a PE ratio of -0.70 and a beta of -0.26.

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.