Biomea Fusion, Inc. (NASDAQ:BMEA) Receives Consensus Recommendation of "Buy" from Analysts

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) have received an average recommendation of "Buy" from the thirteen research firms that are covering the firm, Marketbeat Ratings 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 12 month price objective among brokers that have covered the stock in the last year is $23.91.

BMEA has been the subject of a number of analyst reports. HC Wainwright reiterated a "buy" rating and issued a $40.00 price objective on shares of Biomea Fusion in a research report on Monday, March 31st. Oppenheimer set a $10.00 price objective on Biomea Fusion in a report on Monday, March 24th. Barclays dropped their price target on shares of Biomea Fusion from $11.00 to $3.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 2nd. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $16.00 price objective on shares of Biomea Fusion in a report on Wednesday, March 19th.

Hedge Funds Weigh In On Biomea Fusion

A number of institutional investors and hedge funds have recently bought and sold shares of BMEA. Oppenheimer & Co. Inc. raised its holdings in Biomea Fusion by 90.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 165,937 shares of the company's stock valued at $353,000 after acquiring an additional 78,579 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Biomea Fusion by 140.9% in the first quarter. Exchange Traded Concepts LLC now owns 50,550 shares of the company's stock valued at $108,000 after purchasing an additional 29,565 shares during the last quarter. Wellington Management Group LLP purchased a new position in Biomea Fusion during the fourth quarter worth approximately $317,000. Wexford Capital LP increased its stake in shares of Biomea Fusion by 2.3% in the 4th quarter. Wexford Capital LP now owns 133,343 shares of the company's stock worth $517,000 after acquiring an additional 3,007 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its position in shares of Biomea Fusion by 290.7% during the 4th quarter. Two Sigma Advisers LP now owns 459,500 shares of the company's stock valued at $1,783,000 after acquiring an additional 341,900 shares during the last quarter. 96.72% of the stock is currently owned by institutional investors and hedge funds.

Biomea Fusion Price Performance

BMEA stock traded up $0.11 during trading on Monday, hitting $2.06. 729,126 shares of the company traded hands, compared to its average volume of 907,612. Biomea Fusion has a 1 year low of $1.53 and a 1 year high of $13.43. The company has a market cap of $77.40 million, a PE ratio of -0.51 and a beta of -0.07. The stock's 50-day simple moving average is $2.48 and its 200 day simple moving average is $5.10.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last posted its 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. Research analysts expect that Biomea Fusion will post -3.93 earnings per share for the current year.

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.