Wall Street Zen cut shares of Biomea Fusion (NASDAQ:BMEA – Free Report) from a hold rating to a sell rating in a research note released on Sunday morning,Wall Street Zen reports.
Several other research analysts have also recently weighed in on the stock. HC Wainwright restated a “buy” rating on shares of Biomea Fusion in a research report on Monday, August 24th. Weiss Ratings lowered shares of Biomea Fusion from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 1st. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.
Read Our Latest Stock Analysis on Biomea Fusion
Biomea Fusion Stock Performance
Biomea Fusion (NASDAQ:BMEA – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.10. Equities analysts forecast that Biomea Fusion will post -0.73 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Biomea Fusion by 15.4% in the third quarter. Vanguard Group Inc. now owns 2,170,066 shares of the company’s stock worth $4,384,000 after buying an additional 290,376 shares during the period. Renaissance Technologies LLC grew its position in Biomea Fusion by 174.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company’s stock worth $2,009,000 after acquiring an additional 834,179 shares during the last quarter. Marshall Wace LLP grew its position in Biomea Fusion by 293.7% during the 4th quarter. Marshall Wace LLP now owns 1,160,351 shares of the company’s stock worth $1,439,000 after acquiring an additional 865,618 shares during the last quarter. BlackRock Inc. purchased a new position in Biomea Fusion in the 2nd quarter worth approximately $1,052,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Biomea Fusion in the fourth quarter valued at approximately $783,000. 96.72% of the stock is owned by institutional investors.
About Biomea Fusion
Biomea Fusion, Inc (NASDAQ:BMEA) is a clinical‐stage biopharmaceutical company headquartered in Carlsbad, California. The company is dedicated to the discovery and development of small molecule therapies that target epigenetic regulators implicated in cancer. By leveraging a proprietary chemistry and drug discovery platform, Biomea Fusion aims to design precision medicines that modulate gene expression pathways involved in the initiation and progression of hematological malignancies and solid tumors.
The company’s lead clinical asset, BMF-219, is an orally bioavailable inhibitor of the menin–mixed‐lineage leukemia (MLL) protein–protein interaction.
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