Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $22.60 Consensus PT from Analysts

Biomea Fusion, Inc. (NASDAQ:BMEA) has received an average rating of “Buy” from the twelve analysts that are presently covering the firm, Marketbeat.com reports. One analyst has 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 target among brokerages that have issued a report on the stock in the last year is $22.60.

A number of equities research analysts have weighed in on BMEA shares. Oppenheimer set a $10.00 target price on Biomea Fusion in a report on Monday, March 24th. Barclays cut their price objective on Biomea Fusion from $11.00 to $3.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 2nd. D. Boral Capital reissued a “buy” rating and set a $16.00 price objective on shares of Biomea Fusion in a report on Thursday, May 15th. Finally, HC Wainwright cut their price objective on Biomea Fusion from $40.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th.

Biomea Fusion Stock Performance

Shares of BMEA stock opened at $1.57 on Friday. The stock’s fifty day moving average price is $2.01 and its two-hundred day moving average price is $3.82. The company has a market cap of $58.99 million, a PE ratio of -0.39 and a beta of -0.07. Biomea Fusion has a fifty-two week low of $1.38 and a fifty-two week high of $13.07.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Monday, May 5th. The company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.04. On average, equities analysts predict that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC lifted its holdings in Biomea Fusion by 8,058.5% during the 1st quarter. CWM LLC now owns 16,888 shares of the company’s stock worth $36,000 after buying an additional 16,681 shares during the period. Cerity Partners LLC acquired a new position in Biomea Fusion during the 1st quarter worth about $37,000. Bayesian Capital Management LP acquired a new position in Biomea Fusion during the 4th quarter worth about $42,000. Wells Fargo & Company MN lifted its holdings in Biomea Fusion by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 12,914 shares of the company’s stock worth $50,000 after buying an additional 4,399 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Biomea Fusion during the 4th quarter worth about $54,000. 96.72% of the stock is owned by institutional investors and hedge funds.

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.