Shares of Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) have been assigned an average rating of "Buy" from the thirteen analysts that are currently covering the stock, Marketbeat.com reports. Two equities 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 company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $24.64.
Several analysts have recently weighed in on the stock. Oppenheimer set a $10.00 price target on shares of Biomea Fusion in a research note on Monday, March 24th. D. Boral Capital reiterated a "buy" rating and issued a $16.00 price objective on shares of Biomea Fusion in a research report on Wednesday, March 19th. Finally, HC Wainwright restated a "buy" rating and issued a $40.00 target price on shares of Biomea Fusion in a research report on Monday, March 24th.
Check Out Our Latest Stock Report on BMEA
Biomea Fusion Stock Performance
Shares of BMEA traded down $0.19 during trading hours on Thursday, hitting $2.30. The stock had a trading volume of 341,951 shares, compared to its average volume of 925,835. The firm has a 50-day moving average price of $3.32 and a 200 day moving average price of $6.00. Biomea Fusion has a fifty-two week low of $2.27 and a fifty-two week high of $16.29. The firm has a market capitalization of $83.35 million, a price-to-earnings ratio of -0.57 and a beta of -0.26.
Institutional Trading of Biomea Fusion
Hedge funds have recently modified their holdings of the stock. Quest Partners LLC grew its holdings in Biomea Fusion by 528.3% during the 3rd quarter. Quest Partners LLC now owns 19,553 shares of the company's stock worth $197,000 after acquiring an additional 16,441 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in 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 buying an additional 7,551 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Biomea Fusion in the 3rd quarter valued at $111,000. FMR LLC boosted its stake 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 buying an additional 39,959 shares during the period. Finally, Wexford Capital LP grew its stake in shares of Biomea Fusion by 26.9% in the 3rd quarter. Wexford Capital LP now owns 130,336 shares of the company's stock valued at $1,316,000 after purchasing an additional 27,619 shares during the last quarter. 96.72% of the stock is currently owned by institutional investors and hedge funds.
Biomea Fusion Company Profile
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Get Free ReportBiomea 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.
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