Biomea Fusion (NASDAQ:BMEA) Earns Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research note released on Monday,Benzinga reports. HC Wainwright currently has a $40.00 price target on the stock.

BMEA has been the topic of a number of other reports. Truist Financial raised shares of Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Friday, September 27th. Capital One Financial initiated coverage on shares of Biomea Fusion in a research report on Thursday, August 29th. They set an “overweight” rating and a $25.00 target price for the company. Piper Sandler upped their price objective on Biomea Fusion from $10.00 to $19.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. D. Boral Capital reissued a “buy” rating and issued a $128.00 target price on shares of Biomea Fusion in a research report on Tuesday, December 10th. Finally, RODMAN&RENSHAW raised Biomea Fusion to a “strong-buy” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Biomea Fusion currently has an average rating of “Buy” and an average target price of $39.36.

Biomea Fusion Stock Performance

Shares of BMEA stock opened at $3.88 on Monday. Biomea Fusion has a 52-week low of $3.61 and a 52-week high of $20.21. The company has a 50-day simple moving average of $8.24 and a two-hundred day simple moving average of $7.24. The company has a market capitalization of $140.61 million, a price-to-earnings ratio of -0.97 and a beta of -0.53.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.91) EPS for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.03. On average, sell-side analysts forecast that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Insider Transactions at Biomea Fusion

In other Biomea Fusion news, Director Michael J.M. Hitchcock acquired 10,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average price of $10.06 per share, for a total transaction of $100,600.00. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $150,900. This represents a 200.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 27.57% of the company’s stock.

Institutional Trading of Biomea Fusion

A number of large investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. increased its position in shares of Biomea Fusion by 64.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company’s stock worth $70,000 after purchasing an additional 2,741 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Biomea Fusion in the 2nd quarter worth approximately $36,000. Scientech Research LLC bought a new position in shares of Biomea Fusion in the 2nd quarter worth $46,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Biomea Fusion during the 3rd quarter valued at $111,000. Finally, DRW Securities LLC bought a new stake in shares of Biomea Fusion during the 2nd quarter worth $55,000. Institutional investors own 96.72% of the company’s stock.

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.