Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $8.78 Consensus PT from Analysts

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $8.7778.

BMEA has been the subject of a number of research analyst reports. Rodman & Renshaw assumed coverage on Biomea Fusion in a research report on Tuesday, January 13th. They set a “buy” rating and a $8.00 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biomea Fusion in a research report on Wednesday, January 21st. D. Boral Capital reissued a “buy” rating and issued a $12.00 price target on shares of Biomea Fusion in a report on Tuesday, January 13th. Finally, Citigroup reduced their price target on shares of Biomea Fusion from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, November 10th.

Insider Activity at Biomea Fusion

In other news, insider Rainer M. Erdtmann acquired 30,000 shares of Biomea Fusion stock in a transaction on Thursday, December 11th. The stock was acquired at an average cost of $1.43 per share, with a total value of $42,900.00. Following the completion of the acquisition, the insider owned 723,027 shares in the company, valued at approximately $1,033,928.61. This trade represents a 4.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 18.42% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. ADAR1 Capital Management LLC bought a new stake in Biomea Fusion in the 4th quarter valued at about $54,000. Jain Global LLC purchased a new position in shares of Biomea Fusion in the fourth quarter worth about $68,000. Mariner LLC increased its stake in shares of Biomea Fusion by 145.1% in the fourth quarter. Mariner LLC now owns 585,632 shares of the company’s stock worth $726,000 after purchasing an additional 346,702 shares in the last quarter. Barclays PLC raised its position in shares of Biomea Fusion by 1,731.0% in the fourth quarter. Barclays PLC now owns 59,013 shares of the company’s stock valued at $73,000 after purchasing an additional 55,790 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of Biomea Fusion by 293.7% during the 4th quarter. Marshall Wace LLP now owns 1,160,351 shares of the company’s stock valued at $1,439,000 after buying an additional 865,618 shares in the last quarter. Hedge funds and other institutional investors own 96.72% of the company’s stock.

Biomea Fusion Stock Performance

Biomea Fusion stock opened at $1.33 on Friday. Biomea Fusion has a fifty-two week low of $0.87 and a fifty-two week high of $3.96. The firm’s 50-day simple moving average is $1.32 and its 200 day simple moving average is $1.51. The stock has a market cap of $94.03 million, a PE ratio of -0.56 and a beta of -0.16.

About Biomea Fusion

Biomea Fusion, Inc (NASDAQ:BMEA) is a clinical?stage biopharmaceutical company headquartered in Carlsbad, California. The company is dedicated to the discovery and development of small molecule therapies that target epigenetic regulators implicated in cancer. By leveraging a proprietary chemistry and drug discovery platform, Biomea Fusion aims to design precision medicines that modulate gene expression pathways involved in the initiation and progression of hematological malignancies and solid tumors.

The company’s lead clinical asset, BMF-219, is an orally bioavailable inhibitor of the menin–mixed?lineage leukemia (MLL) protein–protein interaction.