HC Wainwright Reaffirms “Buy” Rating for Biomea Fusion (NASDAQ:BMEA)

HC Wainwright reissued their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research report report published on Monday morning,Benzinga reports. HC Wainwright currently has a $40.00 target price on the stock.

Separately, D. Boral Capital reissued a “buy” rating and issued a $16.00 target price on shares of Biomea Fusion in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $24.64.

Biomea Fusion Stock Performance

Biomea Fusion stock opened at $2.52 on Monday. The stock has a fifty day moving average of $3.38 and a 200-day moving average of $6.07. The stock has a market capitalization of $91.32 million, a P/E ratio of -0.63 and a beta of -0.26. Biomea Fusion has a 52 week low of $2.35 and a 52 week high of $16.29.

Institutional Trading of Biomea Fusion

Several hedge funds and other institutional investors have recently made changes to their positions in BMEA. Barclays PLC boosted its position in Biomea Fusion by 156.3% during the 3rd quarter. Barclays PLC now owns 39,620 shares of the company’s stock worth $401,000 after buying an additional 24,162 shares during the period. Geode Capital Management LLC increased its position in Biomea Fusion by 0.7% in the 3rd 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. SG Americas Securities LLC bought a new position in shares of Biomea Fusion during the fourth quarter valued at $58,000. FMR LLC lifted its holdings in shares of Biomea Fusion by 0.7% during the third 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 period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Biomea Fusion by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 208,391 shares of the company’s stock worth $2,105,000 after purchasing an additional 7,551 shares during the last quarter. 96.72% of the stock is currently 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.