Biomea Fusion (NASDAQ:BMEA) Issues Quarterly Earnings Results

Biomea Fusion (NASDAQ:BMEA) posted its quarterly earnings data on Tuesday. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.52, FiscalAI reports.

Biomea Fusion Trading Up 0.9%

Shares of BMEA traded up $0.01 during mid-day trading on Tuesday, hitting $1.13. 1,006,804 shares of the company traded hands, compared to its average volume of 1,123,973. Biomea Fusion has a one year low of $0.87 and a one year high of $3.08. The business has a 50-day moving average of $1.31 and a 200 day moving average of $1.43. The stock has a market capitalization of $79.90 million, a price-to-earnings ratio of -0.47 and a beta of -0.20.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BMEA. Scientech Research LLC bought a new position in Biomea Fusion in the 3rd quarter valued at $25,000. Engineers Gate Manager LP bought a new stake in shares of Biomea Fusion during the second quarter worth $26,000. Millennium Management LLC raised its position in shares of Biomea Fusion by 156.7% during the fourth quarter. Millennium Management LLC now owns 25,677 shares of the company’s stock worth $32,000 after acquiring an additional 15,675 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Biomea Fusion during the third quarter valued at $39,000. Finally, ADAR1 Capital Management LLC bought a new position in Biomea Fusion in the fourth quarter valued at about $54,000. Institutional investors and hedge funds own 96.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BMEA shares. D. Boral Capital reaffirmed a “buy” rating and set a $12.00 price target on shares of Biomea Fusion in a report on Tuesday, January 13th. Rodman & Renshaw initiated coverage on Biomea Fusion in a research note on Tuesday, January 13th. They issued a “buy” rating and a $8.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Biomea Fusion in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.63.

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.