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Biomea Fusion (NASDAQ:BMEA) Announces Earnings Results

Biomea Fusion logo with Medical background

Biomea Fusion (NASDAQ:BMEA - Get Free Report) released its earnings results on Tuesday. The company reported ($0.91) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.94) by $0.03, Briefing.com reports.

Biomea Fusion Price Performance

BMEA traded down $1.63 during trading on Wednesday, hitting $10.43. 709,009 shares of the stock traded hands, compared to its average volume of 1,014,961. Biomea Fusion has a twelve month low of $3.61 and a twelve month high of $22.74. The company has a market cap of $377.67 million, a price-to-earnings ratio of -2.75 and a beta of -0.43. The business has a 50 day moving average price of $9.25 and a 200 day moving average price of $8.34.

Wall Street Analysts Forecast Growth

BMEA has been the subject of several research reports. 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. Citigroup lowered their price target on Biomea Fusion from $45.00 to $22.00 and set a "buy" rating for the company in a research report on Tuesday, August 27th. HC Wainwright restated a "buy" rating and set a $40.00 target price on shares of Biomea Fusion in a research report on Tuesday, October 22nd. Capital One Financial began coverage on Biomea Fusion in a report on Thursday, August 29th. They set an "overweight" rating and a $25.00 target price on the stock. Finally, EF Hutton Acquisition Co. I raised Biomea Fusion to a "strong-buy" rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $29.60.

View Our Latest Stock Report on BMEA

Insider Buying and Selling

In related news, Director Michael J.M. Hitchcock acquired 10,000 shares of the company's stock in a transaction dated 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 acquisition, the director now owns 15,000 shares of the company's stock, valued at approximately $150,900. This trade represents a 200.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.57% of the stock is currently 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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Earnings History for Biomea Fusion (NASDAQ:BMEA)

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