Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $30.50 Consensus Target Price from Analysts

Biomea Fusion, Inc. (NASDAQ:BMEA) has received an average rating of “Buy” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $39.36.

A number of analysts have issued reports on the company. 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 report on Friday, September 27th. HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Biomea Fusion in a research note on Thursday, November 21st. Scotiabank boosted their price objective on shares of Biomea Fusion from $21.00 to $41.00 and gave the stock a “sector outperform” rating in a research report on Friday, September 27th. Capital One Financial initiated coverage on shares of Biomea Fusion in a research report on Thursday, August 29th. They issued an “overweight” rating and a $25.00 target price on the stock. Finally, EF Hutton Acquisition Co. I raised shares of Biomea Fusion to a “strong-buy” rating in a research report on Wednesday, October 9th.

Insiders Place Their Bets

In other news, Director Michael J.M. Hitchcock acquired 10,000 shares of the business’s stock in a transaction on Monday, September 30th. The stock was bought at an average price of $10.06 per share, for a total transaction of $100,600.00. Following the transaction, the director now owns 15,000 shares in the company, valued at $150,900. This represents a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 27.57% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Biomea Fusion by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,365,625 shares of the company’s stock worth $20,416,000 after acquiring an additional 15,626 shares in the last quarter. Natixis lifted its stake in Biomea Fusion by 65.3% in the 1st quarter. Natixis now owns 19,500 shares of the company’s stock valued at $297,000 after buying an additional 7,700 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Biomea Fusion by 0.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 177,602 shares of the company’s stock valued at $2,656,000 after buying an additional 1,028 shares during the last quarter. Bayesian Capital Management LP purchased a new position in Biomea Fusion during the first quarter worth $404,000. Finally, SG Americas Securities LLC raised its holdings in shares of Biomea Fusion by 90.8% in the second quarter. SG Americas Securities LLC now owns 59,009 shares of the company’s stock worth $266,000 after acquiring an additional 28,085 shares during the last quarter. 96.72% of the stock is currently owned by institutional investors and hedge funds.

Biomea Fusion Stock Up 1.9 %

Shares of NASDAQ:BMEA opened at $7.02 on Friday. Biomea Fusion has a fifty-two week low of $3.61 and a fifty-two week high of $22.74. The firm’s 50 day moving average price is $9.32 and its 200 day moving average price is $7.83. The stock has a market cap of $254.40 million, a price-to-earnings ratio of -1.75 and a beta of -0.41.

Biomea Fusion (NASDAQ:BMEA) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.91) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.03. On average, equities analysts anticipate that Biomea Fusion will post -3.93 EPS for the current year.

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, a covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.