D. Boral Capital reiterated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA - Free Report) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $128.00 price target on the stock.
A number of other research firms have also recently commented on BMEA. HC Wainwright restated a "buy" rating and issued a $40.00 price objective on shares of Biomea Fusion in a research report on Thursday, November 21st. Rodman & Renshaw upgraded shares of Biomea Fusion from a "neutral" rating to a "buy" rating and set a $18.00 price objective for the company in a research report on Thursday, September 26th. RODMAN&RENSHAW upgraded shares of Biomea Fusion to a "strong-buy" rating in a research report on Thursday, September 26th. Truist Financial upgraded shares of Biomea Fusion from a "hold" rating to a "buy" rating and set a $54.00 price objective for the company in a research report on Friday, September 27th. Finally, EF Hutton Acquisition Co. I upgraded shares of Biomea Fusion to a "strong-buy" rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $39.36.
Check Out Our Latest Report on Biomea Fusion
Biomea Fusion Price Performance
Shares of Biomea Fusion stock traded down $0.03 on Tuesday, hitting $5.76. 679,214 shares of the company's stock traded hands, compared to its average volume of 983,040. The firm's 50-day moving average price is $8.94 and its two-hundred day moving average price is $7.49. The stock has a market capitalization of $208.74 million, a PE ratio of -1.44 and a beta of -0.53. Biomea Fusion has a one year low of $3.61 and a one year high of $20.21.
Biomea Fusion (NASDAQ:BMEA - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.03. On average, analysts forecast that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.
Insider Transactions at Biomea Fusion
In other Biomea Fusion news, Director Michael J.M. Hitchcock acquired 10,000 shares of Biomea Fusion stock in a transaction dated Monday, September 30th. The stock was bought at an average cost of $10.06 per share, for a total transaction of $100,600.00. Following the purchase, the director now directly owns 15,000 shares in the company, valued at approximately $150,900. This represents a 200.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 27.57% of the company's stock.
Hedge Funds Weigh In On Biomea Fusion
A number of large investors have recently modified their holdings of BMEA. SG Americas Securities LLC lifted its stake in Biomea Fusion by 90.8% in the 2nd quarter. SG Americas Securities LLC now owns 59,009 shares of the company's stock valued at $266,000 after purchasing an additional 28,085 shares during the last quarter. High Net Worth Advisory Group LLC acquired a new stake in Biomea Fusion in the 2nd quarter valued at about $45,000. Bank of New York Mellon Corp lifted its stake in Biomea Fusion by 46.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 93,317 shares of the company's stock valued at $420,000 after purchasing an additional 29,400 shares during the last quarter. iA Global Asset Management Inc. acquired a new stake in Biomea Fusion in the 2nd quarter valued at about $174,000. Finally, Rhumbline Advisers lifted its stake in Biomea Fusion by 29.6% in the 2nd quarter. Rhumbline Advisers now owns 36,238 shares of the company's stock valued at $163,000 after purchasing an additional 8,272 shares during the last quarter. 96.72% of the stock is currently owned by institutional investors and hedge funds.
About Biomea Fusion
(
Get Free Report)
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.
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