Biomea Fusion, Inc. (NASDAQ:BMEA) Given Consensus Rating of “Moderate Buy” by Analysts

Biomea Fusion, Inc. (NASDAQ:BMEA) has received a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $9.50.

A number of research analysts recently commented on BMEA shares. Jefferies Financial Group started coverage on Biomea Fusion in a research note on Thursday, August 28th. They set a “buy” rating and a $5.00 price objective for the company. Oppenheimer restated an “outperform” rating on shares of Biomea Fusion in a research note on Tuesday, August 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Biomea Fusion in a research note on Wednesday, October 8th. D. Boral Capital restated a “buy” rating and set a $16.00 price objective on shares of Biomea Fusion in a research note on Friday, October 3rd. Finally, Scotiabank lowered their price objective on Biomea Fusion from $30.00 to $10.00 and set a “sector outperform” rating for the company in a research note on Wednesday, August 6th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BMEA. Engineers Gate Manager LP bought a new position in shares of Biomea Fusion in the second quarter worth $26,000. CWM LLC grew its stake in shares of Biomea Fusion by 8,058.5% in the first quarter. CWM LLC now owns 16,888 shares of the company’s stock worth $36,000 after purchasing an additional 16,681 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Biomea Fusion in the first quarter worth $37,000. Marex Group plc bought a new position in shares of Biomea Fusion in the second quarter worth $81,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of Biomea Fusion by 140.9% in the first quarter. Exchange Traded Concepts LLC now owns 50,550 shares of the company’s stock worth $108,000 after purchasing an additional 29,565 shares in the last quarter. Institutional investors own 96.72% of the company’s stock.

Biomea Fusion Trading Down 5.0%

BMEA stock opened at $1.51 on Monday. The firm has a market cap of $89.86 million, a P/E ratio of -0.50 and a beta of -0.12. Biomea Fusion has a 12-month low of $1.29 and a 12-month high of $12.85. The stock’s 50 day simple moving average is $1.88 and its 200 day simple moving average is $1.87.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.08. On average, research analysts forecast that Biomea Fusion will post -3.93 EPS 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.