Brokerages Set Biomea Fusion, Inc. (NASDAQ:BMEA) PT at $53.25

Biomea Fusion, Inc. (NASDAQ:BMEA) has received a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $53.25.

BMEA has been the subject of a number of research reports. Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Biomea Fusion in a research note on Wednesday, April 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Biomea Fusion in a research note on Friday, May 3rd. JPMorgan Chase & Co. lifted their price objective on Biomea Fusion from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Biomea Fusion in a research note on Monday, April 1st.

Biomea Fusion Stock Down 7.8 %

BMEA stock opened at $11.07 on Monday. The business has a fifty day moving average of $13.99 and a two-hundred day moving average of $14.13. The stock has a market cap of $397.86 million, a price-to-earnings ratio of -3.10 and a beta of -0.33. Biomea Fusion has a 52-week low of $8.13 and a 52-week high of $43.69.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings data on Monday, April 1st. The company reported ($0.98) earnings per share for the quarter. As a group, sell-side analysts anticipate that Biomea Fusion will post -4.25 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Biomea Fusion during the 1st quarter worth about $462,000. Capstone Investment Advisors LLC purchased a new stake in Biomea Fusion during the 1st quarter worth about $182,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Biomea Fusion by 12.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,513 shares of the company’s stock worth $232,000 after buying an additional 1,712 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in Biomea Fusion by 66.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,862 shares of the company’s stock worth $103,000 after buying an additional 2,731 shares during the last quarter. Finally, Griffin Asset Management Inc. lifted its holdings in Biomea Fusion by 39.4% during the 1st quarter. Griffin Asset Management Inc. now owns 37,890 shares of the company’s stock worth $566,000 after buying an additional 10,700 shares during the last quarter. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

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.