Biomea Fusion (NASDAQ:BMEA) Receives Buy Rating from D. Boral Capital

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reiterated by equities researchers at D. Boral Capital in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $12.00 target price on the stock.

A number of other analysts have also recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Biomea Fusion in a research report on Wednesday, January 21st. Citigroup lifted their target price on shares of Biomea Fusion from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, March 27th. Rodman & Renshaw initiated coverage on shares of Biomea Fusion in a research note on Tuesday, January 13th. They issued a “buy” rating and a $8.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Biomea Fusion from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Biomea Fusion currently has an average rating of “Moderate Buy” and an average target price of $9.57.

Biomea Fusion Stock Up 25.8%

Shares of BMEA opened at $1.90 on Wednesday. The business’s 50 day moving average price is $1.32 and its 200-day moving average price is $1.40. Biomea Fusion has a 52 week low of $0.87 and a 52 week high of $3.08. The stock has a market cap of $137.37 million, a P/E ratio of -1.45 and a beta of -0.25.

Hedge Funds Weigh In On Biomea Fusion

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Biomea Fusion by 15.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,170,066 shares of the company’s stock valued at $4,384,000 after acquiring an additional 290,376 shares in the last quarter. Marshall Wace LLP lifted its position in Biomea Fusion by 293.7% in the 4th quarter. Marshall Wace LLP now owns 1,160,351 shares of the company’s stock valued at $1,439,000 after acquiring an additional 865,618 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Biomea Fusion in the 4th quarter valued at approximately $783,000. Mariner LLC lifted its position in Biomea Fusion by 145.1% in the 4th quarter. Mariner LLC now owns 585,632 shares of the company’s stock valued at $726,000 after acquiring an additional 346,702 shares in the last quarter. Finally, Two Sigma Investments LP lifted its position in Biomea Fusion by 61.0% in the 3rd quarter. Two Sigma Investments LP now owns 562,968 shares of the company’s stock valued at $1,137,000 after acquiring an additional 213,321 shares in the last quarter. 96.72% of the stock is owned by institutional investors.

Biomea Fusion Company Profile

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.