Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $39.36 Average Price Target from Brokerages

Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) has received a consensus recommendation of "Buy" from the thirteen brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $39.36.

A number of equities research analysts have issued reports on BMEA shares. HC Wainwright reissued a "buy" rating and set a $40.00 target price on shares of Biomea Fusion in a research note on Tuesday, January 14th. Piper Sandler lifted their price objective on Biomea Fusion from $10.00 to $19.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. D. Boral Capital restated a "buy" rating and issued a $128.00 target price on shares of Biomea Fusion in a research note on Friday, January 10th. Finally, Barclays raised their price target on Biomea Fusion from $9.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th.

Biomea Fusion Stock Down 9.2 %

Shares of BMEA stock traded down $0.38 during trading hours on Wednesday, reaching $3.74. 808,351 shares of the stock traded hands, compared to its average volume of 517,057. Biomea Fusion has a 1-year low of $3.61 and a 1-year high of $19.35. The business has a fifty day moving average price of $4.55 and a 200 day moving average price of $6.85. The firm has a market capitalization of $135.53 million, a PE ratio of -0.93 and a beta of -0.34.

Hedge Funds Weigh In On Biomea Fusion

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BMEA. FMR LLC raised its position in shares of Biomea Fusion by 0.7% in the third quarter. FMR LLC now owns 5,431,525 shares of the company's stock valued at $54,858,000 after purchasing an additional 39,959 shares during the period. Geode Capital Management LLC raised its position in shares of Biomea Fusion by 0.7% in the third quarter. Geode Capital Management LLC now owns 601,479 shares of the company's stock valued at $6,076,000 after purchasing an additional 4,291 shares during the period. Charles Schwab Investment Management Inc. raised its position 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 valued at $2,105,000 after purchasing an additional 7,551 shares during the period. Wexford Capital LP raised its position in shares of Biomea Fusion by 26.9% in the third 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 period. Finally, Griffin Asset Management Inc. raised its position in shares of Biomea Fusion by 147.0% in the third quarter. Griffin Asset Management Inc. now owns 96,070 shares of the company's stock valued at $970,000 after purchasing an additional 57,180 shares during the period. Institutional investors own 96.72% of the company's stock.

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.