Biomea Fusion, Inc. (NASDAQ:BMEA) Given Average Rating of "Buy" by Brokerages

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) have received an average rating of "Buy" from the twelve ratings firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $29.40.

A number of equities research analysts have issued reports on BMEA shares. EF Hutton Acquisition Co. I raised Biomea Fusion to a "strong-buy" rating in a research report on Wednesday, October 9th. Truist Financial raised Biomea Fusion from a "hold" rating to a "buy" rating and set a $54.00 price target for the company in a research report on Friday, September 27th. Capital One Financial initiated coverage on Biomea Fusion in a research report on Thursday, August 29th. They set an "overweight" rating and a $25.00 price target for the company. RODMAN&RENSHAW raised Biomea Fusion to a "strong-buy" rating in a research report on Thursday, September 26th. Finally, Rodman & Renshaw raised Biomea Fusion from a "neutral" rating to a "buy" rating and set a $18.00 target price for the company in a research report on Thursday, September 26th.

Insider Buying and Selling

In other Biomea Fusion news, Director Michael J.M. Hitchcock purchased 10,000 shares of the business's stock in a transaction that occurred on Monday, September 30th. The shares were acquired 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 owns 15,000 shares in the company, valued at $150,900. The trade was a 200.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 27.57% of the company's stock.

Institutional Trading of Biomea Fusion

Several institutional investors and hedge funds have recently bought and sold shares of BMEA. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Biomea Fusion during the second quarter valued at approximately $36,000. High Net Worth Advisory Group LLC acquired a new stake in Biomea Fusion during the second quarter valued at approximately $45,000. Scientech Research LLC acquired a new stake in Biomea Fusion during the second quarter valued at approximately $46,000. DRW Securities LLC acquired a new stake in Biomea Fusion during the second quarter valued at approximately $55,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in Biomea Fusion by 64.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company's stock valued at $70,000 after buying an additional 2,741 shares in the last quarter. Institutional investors and hedge funds own 96.72% of the company's stock.

Biomea Fusion Stock Up 2.1 %

Shares of NASDAQ:BMEA traded up $0.26 during midday trading on Monday, reaching $12.41. The company's stock had a trading volume of 749,619 shares, compared to its average volume of 1,018,494. The firm has a market cap of $446.08 million, a price-to-earnings ratio of -3.48 and a beta of -0.43. Biomea Fusion has a 1 year low of $3.61 and a 1 year high of $22.74. The business has a 50 day moving average price of $9.13 and a 200 day moving average price of $8.35.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($1.03) EPS for the quarter, meeting analysts' consensus estimates of ($1.03). Sell-side analysts anticipate that Biomea Fusion will post -4.09 earnings per share for the current fiscal year.

About Biomea Fusion

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.