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

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

Separately, D. Boral Capital reissued a “buy” rating and issued a $16.00 price objective on shares of Biomea Fusion in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $24.64.

Biomea Fusion Trading Down 6.3 %

Shares of NASDAQ BMEA opened at $2.52 on Monday. The company has a market capitalization of $91.32 million, a P/E ratio of -0.63 and a beta of -0.26. Biomea Fusion has a 12 month low of $2.35 and a 12 month high of $16.29. The stock has a 50 day moving average of $3.38 and a 200-day moving average of $6.07.

Institutional Trading of Biomea Fusion

Several hedge funds and other institutional investors have recently bought and sold shares of BMEA. PNC Financial Services Group Inc. raised its holdings in Biomea Fusion by 14.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,005 shares of the company’s stock valued at $93,000 after acquiring an additional 3,005 shares in the last quarter. Wexford Capital LP increased its position in shares of Biomea Fusion by 2.3% in the fourth quarter. Wexford Capital LP now owns 133,343 shares of the company’s stock worth $517,000 after purchasing an additional 3,007 shares during the period. Geode Capital Management LLC raised its stake in Biomea Fusion by 0.7% in the third quarter. Geode Capital Management LLC now owns 601,479 shares of the company’s stock valued at $6,076,000 after purchasing an additional 4,291 shares in the last quarter. Wells Fargo & Company MN lifted its position in Biomea Fusion by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 12,914 shares of the company’s stock worth $50,000 after purchasing an additional 4,399 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Biomea Fusion by 27.6% during the fourth quarter. JPMorgan Chase & Co. now owns 22,535 shares of the company’s stock worth $87,000 after buying an additional 4,868 shares in the last quarter. Institutional investors and hedge funds 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.