D. Boral Capital Reaffirms “Buy” Rating for Biomea Fusion (NASDAQ:BMEA)

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reaffirmed by investment analysts at D. Boral Capital in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $128.00 price objective on the stock.

BMEA has been the subject of a number of other research reports. Scotiabank increased their target price on shares of Biomea Fusion from $21.00 to $41.00 and gave the stock a “sector outperform” rating in a report on Friday, September 27th. Capital One Financial assumed coverage on shares of Biomea Fusion in a report on Thursday, August 29th. They set an “overweight” rating and a $25.00 price target on the stock. RODMAN&RENSHAW upgraded shares of Biomea Fusion to a “strong-buy” rating in a research report on Thursday, September 26th. EF Hutton Acquisition Co. I upgraded Biomea Fusion to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Citigroup cut their target price on Biomea Fusion from $45.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $39.36.

Biomea Fusion Stock Performance

NASDAQ:BMEA opened at $6.14 on Tuesday. The company has a market cap of $222.51 million, a price-to-earnings ratio of -1.53 and a beta of -0.53. Biomea Fusion has a fifty-two week low of $3.61 and a fifty-two week high of $20.21. The stock has a fifty day moving average price of $8.79 and a 200-day moving average price of $7.44.

Biomea Fusion (NASDAQ:BMEA) last released its earnings results on Tuesday, October 29th. The company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.03. Research analysts predict that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Insider Activity at Biomea Fusion

In other Biomea Fusion news, Director Michael J.M. Hitchcock bought 10,000 shares of Biomea Fusion stock in a transaction dated Monday, September 30th. The stock was bought at an average cost of $10.06 per share, with a total value of $100,600.00. Following the completion of the acquisition, the director now directly owns 15,000 shares in the company, valued at approximately $150,900. The trade was a 200.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 27.57% of the stock is currently owned by insiders.

Institutional Trading of Biomea Fusion

A number of large investors have recently added to or reduced their stakes in BMEA. Griffin Asset Management Inc. grew its stake in Biomea Fusion by 147.0% in the 3rd quarter. Griffin Asset Management Inc. now owns 96,070 shares of the company’s stock valued at $970,000 after buying an additional 57,180 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Biomea Fusion in the second quarter valued at approximately $237,000. Renaissance Technologies LLC purchased a new stake in shares of Biomea Fusion during the second quarter worth about $1,481,000. Exchange Traded Concepts LLC boosted its holdings in Biomea Fusion by 62.6% in the third quarter. Exchange Traded Concepts LLC now owns 20,985 shares of the company’s stock valued at $212,000 after acquiring an additional 8,079 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Biomea Fusion by 46.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 93,317 shares of the company’s stock worth $420,000 after acquiring an additional 29,400 shares during the period. Hedge funds and other 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.