Biomea Fusion, Inc. (NASDAQ:BMEA) Receives Average Recommendation of “Moderate Buy” from Analysts

Biomea Fusion, Inc. (NASDAQ:BMEA) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $53.13.

A number of research firms have recently weighed in on BMEA. JPMorgan Chase & Co. restated a “neutral” rating and issued a $14.00 price target (down from $51.00) on shares of Biomea Fusion in a report on Tuesday, April 2nd. Oppenheimer reiterated an “outperform” rating and issued a $70.00 target price on shares of Biomea Fusion in a research note on Wednesday, April 3rd. HC Wainwright reiterated a “buy” rating and issued a $50.00 target price on shares of Biomea Fusion in a research note on Monday, April 1st. Finally, Truist Financial reiterated a “buy” rating and issued a $55.00 target price on shares of Biomea Fusion in a research note on Monday, April 1st.

Hedge Funds Weigh In On Biomea Fusion

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in Biomea Fusion by 19.0% in the 1st quarter. JPMorgan Chase & Co. now owns 17,382 shares of the company’s stock worth $77,000 after acquiring an additional 2,775 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Biomea Fusion by 12.6% in the 1st quarter. Bank of New York Mellon Corp now owns 50,317 shares of the company’s stock worth $225,000 after acquiring an additional 5,648 shares in the last quarter. Rhumbline Advisers purchased a new stake in Biomea Fusion in the 1st quarter worth $59,000. BlackRock Inc. increased its holdings in Biomea Fusion by 2.0% in the 1st quarter. BlackRock Inc. now owns 1,705,442 shares of the company’s stock worth $7,606,000 after acquiring an additional 32,634 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Biomea Fusion by 11.0% in the 1st quarter. Vanguard Group Inc. now owns 764,793 shares of the company’s stock worth $3,411,000 after acquiring an additional 75,943 shares in the last quarter. 96.72% of the stock is owned by hedge funds and other institutional investors.

Biomea Fusion Stock Performance

NASDAQ:BMEA opened at $11.50 on Thursday. Biomea Fusion has a fifty-two week low of $8.13 and a fifty-two week high of $43.69. The stock has a market capitalization of $412.72 million, a P/E ratio of -3.32 and a beta of -0.53. The company’s 50-day simple moving average is $15.66 and its 200-day simple moving average is $14.16.

Biomea Fusion Company Profile

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, an orally bioavailable, potent, and selective covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.