Biomea Fusion’s (BMEA) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research note released on Tuesday morning,Benzinga reports. HC Wainwright currently has a $40.00 target price on the stock.

BMEA has been the subject of a number of other reports. Rodman & Renshaw upgraded shares of Biomea Fusion from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a report on Thursday, September 26th. Truist Financial raised Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Friday, September 27th. Scotiabank raised their price objective on Biomea Fusion from $21.00 to $41.00 and gave the company a “sector outperform” rating in a research note on Friday, September 27th. D. Boral Capital reaffirmed a “buy” rating and set a $128.00 target price on shares of Biomea Fusion in a research report on Tuesday. Finally, Capital One Financial started coverage on shares of Biomea Fusion in a research note on Thursday, August 29th. They set an “overweight” rating and a $25.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $39.36.

Biomea Fusion Stock Down 5.5 %

Shares of Biomea Fusion stock opened at $5.80 on Tuesday. The stock has a market cap of $210.19 million, a price-to-earnings ratio of -1.45 and a beta of -0.53. Biomea Fusion has a twelve month low of $3.61 and a twelve month high of $20.21. The company’s fifty day moving average is $8.70 and its 200 day moving average is $7.43.

Biomea Fusion (NASDAQ:BMEA) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.03. As a group, equities analysts anticipate that Biomea Fusion will post -3.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael J.M. Hitchcock acquired 10,000 shares of the stock in a transaction dated Monday, September 30th. The stock was purchased at an average cost of $10.06 per share, with a total value of $100,600.00. Following the completion of the purchase, the director now owns 15,000 shares in the company, valued at approximately $150,900. The trade was a 200.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 27.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Biomea Fusion in the 2nd quarter worth approximately $36,000. High Net Worth Advisory Group LLC bought a new stake in Biomea Fusion in the second quarter valued at $45,000. Scientech Research LLC purchased a new position in Biomea Fusion during the 2nd quarter valued at $46,000. DRW Securities LLC bought a new position in Biomea Fusion in the second quarter worth about $55,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Biomea Fusion by 64.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company’s stock worth $70,000 after acquiring an additional 2,741 shares during the period. Institutional investors own 96.72% of the company’s stock.

Biomea Fusion Company Profile

Biomea Fusion, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of covalent small molecule drugs to treat patients with genetically defined cancers and metabolic diseases. Its lead product candidate is BMF-219, a covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.