Biomea Fusion (NASDAQ:BMEA) Rating Reiterated by HC Wainwright

Biomea Fusion (NASDAQ:BMEA – Get Rating)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued to investors on Tuesday. They currently have a $16.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 46.12% from the stock’s previous close.

Separately, Piper Sandler decreased their target price on shares of Biomea Fusion from $25.00 to $16.00 in a research report on Friday, May 27th.

Biomea Fusion Price Performance

NASDAQ:BMEA opened at $10.95 on Tuesday. The firm’s fifty day moving average price is $9.58 and its 200 day moving average price is $6.88. Biomea Fusion has a 1-year low of $2.84 and a 1-year high of $14.85. The firm has a market cap of $319.40 million, a price-to-earnings ratio of -5.24 and a beta of -2.76.

Biomea Fusion (NASDAQ:BMEA – Get Rating) last posted its quarterly earnings data on Monday, May 16th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). As a group, analysts expect that Biomea Fusion will post -2.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder A2a Pharmaceuticals, Inc. sold 34,658 shares of the business’s stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $11.76, for a total value of $407,578.08. Following the sale, the insider now directly owns 4,365,342 shares in the company, valued at approximately $51,336,421.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Institutional Investors Weigh In On Biomea Fusion

Institutional investors and hedge funds have recently made changes to their positions in the business. Strs Ohio boosted its position in shares of Biomea Fusion by 150.0% in the 4th quarter. Strs Ohio now owns 5,000 shares of the company’s stock worth $37,000 after buying an additional 3,000 shares in the last quarter. Rhumbline Advisers acquired a new position in Biomea Fusion in the 1st quarter valued at about $59,000. JPMorgan Chase & Co. raised its stake in Biomea Fusion by 19.0% in the 1st quarter. JPMorgan Chase & Co. now owns 17,382 shares of the company’s stock valued at $77,000 after purchasing an additional 2,775 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Biomea Fusion by 29.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 25,787 shares of the company’s stock valued at $115,000 after purchasing an additional 5,853 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Biomea Fusion in the 1st quarter valued at about $152,000. 58.82% of the stock is currently owned by hedge funds and other institutional investors.

Biomea Fusion Company Profile

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Biomea Fusion, Inc, a biopharmaceutical company, focuses on the discovery and development of irreversible small molecules to treat patients with genetically defined cancers and metabolic diseases. Its lead product candidate is BMF-219, an orally bioavailable, potent, and selective irreversible inhibitor of menin, a transcriptional regulator in oncogenic signaling in multiple cancers.

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