Biomea Fusion's (BMEA) "Buy" Rating Reaffirmed at HC Wainwright

Biomea Fusion (NASDAQ:BMEA - Get Free Report)'s stock had its "buy" rating restated by analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $40.00 price target on the stock.

Separately, D. Boral Capital reiterated a "buy" rating and issued a $16.00 price objective on shares of Biomea Fusion in a report on Wednesday, March 19th. Two 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.com, Biomea Fusion presently has a consensus rating of "Buy" and a consensus price target of $24.64.

Biomea Fusion Stock Performance

Shares of Biomea Fusion stock traded down $0.18 on Monday, hitting $2.32. The company's stock had a trading volume of 248,558 shares, compared to its average volume of 925,079. The company has a market capitalization of $83.89 million, a price-to-earnings ratio of -0.58 and a beta of -0.26. The firm has a fifty day moving average price of $3.35 and a 200-day moving average price of $6.05. Biomea Fusion has a 1 year low of $2.27 and a 1 year high of $16.29.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BMEA. Two Sigma Advisers LP grew its position in Biomea Fusion by 290.7% in 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 in the last quarter. Two Sigma Investments LP boosted its position in Biomea Fusion by 104.4% in the 4th quarter. Two Sigma Investments LP now owns 559,930 shares of the company's stock valued at $2,173,000 after buying an additional 286,049 shares during the period. Renaissance Technologies LLC grew its stake in shares of Biomea Fusion by 317.7% in the fourth quarter. Renaissance Technologies LLC now owns 343,732 shares of the company's stock worth $1,334,000 after acquiring an additional 261,432 shares in the last quarter. Walleye Capital LLC acquired a new stake in Biomea Fusion in the 4th quarter valued at about $914,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Biomea Fusion in the 4th quarter valued at about $766,000. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

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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.