Brokerages Set Biomea Fusion, Inc. (NASDAQ:BMEA) Price Target at $9.57

Biomea Fusion, Inc. (NASDAQ:BMEA) has been assigned a consensus rating of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $8.2857.

Several brokerages have recently commented on BMEA. Wall Street Zen upgraded shares of Biomea Fusion from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. D. Boral Capital reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Biomea Fusion in a research report on Tuesday, April 28th. Citizens Jmp initiated coverage on shares of Biomea Fusion in a research note on Tuesday. They issued a “market outperform” rating and a $9.00 price objective for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Biomea Fusion in a research report on Monday, April 20th. Finally, Rodman & Renshaw assumed coverage on Biomea Fusion in a research note on Tuesday, January 13th. They issued a “buy” rating and a $8.00 target price on the stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Scientech Research LLC bought a new stake in shares of Biomea Fusion during the 3rd quarter worth $25,000. Engineers Gate Manager LP purchased a new stake in Biomea Fusion during the second quarter worth about $26,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Biomea Fusion during the third quarter worth about $32,000. Virtu Financial LLC bought a new stake in Biomea Fusion in the third quarter worth about $39,000. Finally, Millennium Management LLC raised its position in Biomea Fusion by 156.7% in 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 period. Institutional investors own 96.72% of the company’s stock.

Biomea Fusion Trading Up 1.9%

NASDAQ BMEA opened at $1.63 on Friday. The business has a fifty day simple moving average of $1.54 and a 200 day simple moving average of $1.38. Biomea Fusion has a 12 month low of $0.87 and a 12 month high of $3.08. The firm has a market capitalization of $117.85 million, a P/E ratio of -1.24 and a beta of -0.32.

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.