Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $39.36 Consensus Price Target from Analysts

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have been assigned an average rating of “Buy” from the thirteen ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $39.36.

Several equities analysts have recently commented on the stock. Barclays increased their price target on shares of Biomea Fusion from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Piper Sandler increased their target price on Biomea Fusion from $10.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Biomea Fusion in a report on Tuesday, January 14th. Finally, D. Boral Capital restated a “buy” rating and set a $128.00 price objective on shares of Biomea Fusion in a research note on Friday, January 10th.

Institutional Trading of Biomea Fusion

A number of institutional investors have recently made changes to their positions in BMEA. Griffin Asset Management Inc. raised its holdings in Biomea Fusion by 147.0% during the third quarter. Griffin Asset Management Inc. now owns 96,070 shares of the company’s stock worth $970,000 after purchasing an additional 57,180 shares in the last quarter. Squarepoint Ops LLC bought a new position in Biomea Fusion during the second quarter valued at about $237,000. FMR LLC grew its holdings in Biomea Fusion by 0.7% during the third quarter. FMR LLC now owns 5,431,525 shares of the company’s stock worth $54,858,000 after acquiring an additional 39,959 shares during the period. Wexford Capital LP raised its position in Biomea Fusion by 26.9% in the third quarter. Wexford Capital LP now owns 130,336 shares of the company’s stock worth $1,316,000 after acquiring an additional 27,619 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Biomea Fusion in the 2nd quarter valued at about $109,000. 96.72% of the stock is owned by institutional investors and hedge funds.

Biomea Fusion Price Performance

NASDAQ BMEA opened at $3.74 on Wednesday. The company has a market capitalization of $135.54 million, a price-to-earnings ratio of -0.93 and a beta of -0.34. Biomea Fusion has a 12 month low of $3.61 and a 12 month high of $19.35. The company’s fifty day moving average price is $4.55 and its two-hundred day moving average price is $6.86.

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.