Biomea Fusion, Inc. (NASDAQ:BMEA) Receives $8.78 Consensus Target Price from Analysts

Biomea Fusion, Inc. (NASDAQ:BMEA) has been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $8.7778.

A number of equities research analysts have recently weighed in on the company. D. Boral Capital reiterated a “buy” rating and issued a $12.00 price objective on shares of Biomea Fusion in a research report on Tuesday, January 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Biomea Fusion in a report on Wednesday, January 21st. Finally, Rodman & Renshaw began coverage on shares of Biomea Fusion in a report on Tuesday, January 13th. They issued a “buy” rating and a $8.00 price target on the stock.

Institutional Investors Weigh In On Biomea Fusion

A number of large investors have recently modified their holdings of the stock. Scientech Research LLC purchased a new position in shares of Biomea Fusion during the third quarter valued at about $25,000. Engineers Gate Manager LP purchased a new stake in Biomea Fusion in the second quarter worth about $26,000. Vanguard Personalized Indexing Management LLC bought a new stake in Biomea Fusion during the 3rd quarter valued at approximately $32,000. Millennium Management LLC boosted its position in Biomea Fusion by 156.7% during the 4th quarter. Millennium Management LLC now owns 25,677 shares of the company’s stock valued at $32,000 after acquiring an additional 15,675 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Biomea Fusion during the 3rd quarter worth approximately $39,000. Institutional investors own 96.72% of the company’s stock.

Biomea Fusion Price Performance

Shares of NASDAQ:BMEA opened at $1.17 on Thursday. The stock’s 50-day moving average is $1.33 and its 200 day moving average is $1.46. The company has a market cap of $82.72 million, a PE ratio of -0.49 and a beta of -0.20. Biomea Fusion has a 1 year low of $0.87 and a 1 year high of $3.08.

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.