Barclays Has Lowered Expectations for Biomea Fusion (NASDAQ:BMEA) Stock Price

Biomea Fusion (NASDAQ:BMEA - Get Free Report) had its price target decreased by equities research analysts at Barclays from $11.00 to $3.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price objective indicates a potential upside of 49.25% from the company's previous close.

Several other research analysts also recently weighed in on BMEA. Oppenheimer set a $10.00 price target on shares of Biomea Fusion in a research report on Monday, March 24th. D. Boral Capital restated a "buy" rating and issued a $16.00 target price on shares of Biomea Fusion in a report on Wednesday, March 19th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $40.00 price target on shares of Biomea Fusion in a research report on Monday, March 31st. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $23.91.

Biomea Fusion Stock Performance

NASDAQ BMEA traded down $0.11 during mid-day trading on Wednesday, reaching $2.01. 554,645 shares of the stock were exchanged, compared to its average volume of 909,113. Biomea Fusion has a 1 year low of $1.86 and a 1 year high of $13.66. The business's 50 day moving average is $3.10 and its 200-day moving average is $5.78. The company has a market capitalization of $75.52 million, a P/E ratio of -0.50 and a beta of -0.07.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last announced its quarterly earnings results on Monday, March 31st. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.19. Equities analysts predict that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.

Institutional Trading of Biomea Fusion

A number of large investors have recently modified their holdings of the stock. Bayesian Capital Management LP purchased a new stake in Biomea Fusion during the 4th quarter worth about $42,000. Wells Fargo & Company MN increased its stake in shares of Biomea Fusion by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,914 shares of the company's stock worth $50,000 after buying an additional 4,399 shares during the period. Intech Investment Management LLC acquired a new stake in Biomea Fusion in the fourth quarter valued at approximately $54,000. SG Americas Securities LLC purchased a new position in Biomea Fusion in the fourth quarter worth approximately $58,000. Finally, Maia Wealth LLC purchased a new stake in shares of Biomea Fusion during the 4th quarter worth $62,000. Hedge funds and other 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.