Biomea Fusion (NASDAQ:BMEA) Coverage Initiated by Analysts at Citizens Jmp

Equities researchers at Citizens Jmp began coverage on shares of Biomea Fusion (NASDAQ:BMEA) in a report issued on Tuesday,Benzinga reports. The brokerage set a “market outperform” rating and a $9.00 price target on the stock.

A number of other analysts have also recently weighed in on the stock. Citigroup initiated coverage on shares of Biomea Fusion in a research report on Tuesday. They set an “outperform” rating for the company. D. Boral Capital reaffirmed a “buy” rating and set a $12.00 price target on shares of Biomea Fusion in a research report on Tuesday, April 28th. Rodman & Renshaw initiated coverage on shares of Biomea Fusion in a research report on Tuesday, January 13th. They set a “buy” rating and a $8.00 price target for the company. Wall Street Zen raised shares of Biomea Fusion from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biomea Fusion in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Biomea Fusion Trading Up 8.0%

Shares of Biomea Fusion stock opened at $1.48 on Tuesday. The company has a fifty day moving average price of $1.52 and a 200 day moving average price of $1.38. Biomea Fusion has a twelve month low of $0.87 and a twelve month high of $3.08. The stock has a market cap of $107.00 million, a price-to-earnings ratio of -1.13 and a beta of -0.32.

Hedge Funds Weigh In On Biomea Fusion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BMEA. Marshall Wace LLP boosted 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 buying an additional 865,618 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Biomea Fusion in the 4th quarter valued at about $783,000. Mariner LLC boosted 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 buying an additional 346,702 shares during the last quarter. Vanguard Group Inc. boosted 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 buying an additional 290,376 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Biomea Fusion by 670.5% in the 1st quarter. AQR Capital Management LLC now owns 264,028 shares of the company’s stock valued at $562,000 after buying an additional 229,763 shares during the last quarter. 96.72% of the stock is owned by hedge funds and other institutional investors.

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.