Biomea Fusion, Inc. (NASDAQ:BMEA - Free Report) - Stock analysts at HC Wainwright lifted their FY2024 earnings estimates for Biomea Fusion in a research report issued to clients and investors on Thursday, October 31st. HC Wainwright analyst J. Pantginis now anticipates that the company will earn ($3.97) per share for the year, up from their prior estimate of ($4.22). HC Wainwright currently has a "Buy" rating and a $40.00 target price on the stock. The consensus estimate for Biomea Fusion's current full-year earnings is ($4.09) per share. HC Wainwright also issued estimates for Biomea Fusion's Q4 2024 earnings at ($1.02) EPS, FY2025 earnings at ($3.17) EPS, FY2026 earnings at ($2.63) EPS, FY2027 earnings at ($2.92) EPS and FY2028 earnings at ($3.05) EPS.
Biomea Fusion (NASDAQ:BMEA - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.91) EPS for the quarter, beating analysts' consensus estimates of ($0.94) by $0.03.
A number of other research analysts have also commented on BMEA. Rodman & Renshaw raised 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. Capital One Financial initiated coverage on shares of Biomea Fusion in a research note on Thursday, August 29th. They issued an "overweight" rating and a $25.00 target price on the stock. RODMAN&RENSHAW raised shares of Biomea Fusion to a "strong-buy" rating in a research note on Thursday, September 26th. Piper Sandler upped their target price on shares of Biomea Fusion from $10.00 to $19.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, EF Hutton Acquisition Co. I raised shares of Biomea Fusion to a "strong-buy" rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $30.50.
Read Our Latest Stock Analysis on BMEA
Biomea Fusion Stock Performance
Shares of BMEA traded down $0.20 during trading hours on Monday, reaching $8.84. 887,951 shares of the company traded hands, compared to its average volume of 1,023,078. The stock's fifty day moving average is $9.43 and its 200 day moving average is $8.27. The stock has a market cap of $320.36 million, a P/E ratio of -2.20 and a beta of -0.41. Biomea Fusion has a 1-year low of $3.61 and a 1-year high of $22.74.
Hedge Funds Weigh In On Biomea Fusion
A number of hedge funds and other institutional investors have recently made changes to their positions in BMEA. Griffin Asset Management Inc. lifted its position in Biomea Fusion by 147.0% in the 3rd quarter. Griffin Asset Management Inc. now owns 96,070 shares of the company's stock valued at $970,000 after acquiring an additional 57,180 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in Biomea Fusion in the 1st quarter valued at $182,000. SG Americas Securities LLC bought a new stake in Biomea Fusion in the 1st quarter valued at $462,000. Squarepoint Ops LLC bought a new stake in Biomea Fusion in the 2nd quarter valued at $237,000. Finally, Vanguard Group Inc. lifted its position in Biomea Fusion by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,365,625 shares of the company's stock valued at $20,416,000 after acquiring an additional 15,626 shares in the last quarter. 96.72% of the stock is owned by institutional investors.
Insider Activity
In related news, Director Michael J.M. Hitchcock purchased 10,000 shares of the firm's stock in a transaction dated Monday, September 30th. The shares were acquired at an average cost of $10.06 per share, with a total value 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 trade represents a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 27.57% of the stock is owned by insiders.
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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