D. Boral Capital Reiterates Buy Rating for Biomea Fusion (NASDAQ:BMEA)

Biomea Fusion (NASDAQ:BMEA - Get Free Report)'s stock had its "buy" rating restated by D. Boral Capital in a report released on Tuesday,Benzinga reports. They presently have a $128.00 target price on the stock.

Other equities analysts have also recently issued reports about the company. Capital One Financial started coverage on Biomea Fusion in a report on Thursday, August 29th. They issued an "overweight" rating and a $25.00 price target for the company. Barclays boosted their price target on Biomea Fusion from $9.00 to $11.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. EF Hutton Acquisition Co. I raised Biomea Fusion to a "strong-buy" rating in a report on Wednesday, October 9th. Piper Sandler upped their target price on Biomea Fusion from $10.00 to $19.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Finally, Citigroup dropped their target price on Biomea Fusion from $45.00 to $22.00 and set a "buy" rating for the company in a research note on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $39.36.

Biomea Fusion Stock Performance

BMEA stock traded down $1.21 during midday trading on Tuesday, hitting $4.64. 6,307,460 shares of the stock were exchanged, compared to its average volume of 1,001,086. The stock's 50-day moving average price is $8.38 and its 200-day moving average price is $7.27. The stock has a market cap of $168.15 million, a price-to-earnings ratio of -1.16 and a beta of -0.53. Biomea Fusion has a fifty-two week low of $3.61 and a fifty-two week high of $20.21.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.94) by $0.03. Research analysts anticipate that Biomea Fusion will post -3.93 EPS for the current year.

Insider Activity at Biomea Fusion

In other news, Director Michael J.M. Hitchcock acquired 10,000 shares of the business's stock in a transaction on Monday, September 30th. The shares were purchased at an average price of $10.06 per share, for a total transaction of $100,600.00. Following the completion of the purchase, the director now directly owns 15,000 shares of the company's stock, valued at $150,900. This represents a 200.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 27.57% of the stock is currently owned by company insiders.

Institutional Trading of Biomea Fusion

Several hedge funds have recently made changes to their positions in BMEA. SG Americas Securities LLC lifted its holdings in shares of Biomea Fusion by 90.8% in the 2nd quarter. SG Americas Securities LLC now owns 59,009 shares of the company's stock worth $266,000 after purchasing an additional 28,085 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Biomea Fusion by 46.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 93,317 shares of the company's stock valued at $420,000 after acquiring an additional 29,400 shares in the last quarter. iA Global Asset Management Inc. bought a new stake in Biomea Fusion during the 2nd quarter valued at $174,000. Rhumbline Advisers raised its stake in Biomea Fusion by 29.6% during the 2nd quarter. Rhumbline Advisers now owns 36,238 shares of the company's stock valued at $163,000 after acquiring an additional 8,272 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Biomea Fusion during the 2nd quarter valued at $1,481,000. 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.