Biomea Fusion (NASDAQ:BMEA) Raised to “Hold” at Wall Street Zen

Biomea Fusion (NASDAQ:BMEA) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other analysts also recently issued research reports about the company. Weiss Ratings downgraded Biomea Fusion from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, July 1st. Citigroup assumed coverage on Biomea Fusion in a report on Tuesday, May 5th. They set an “outperform” rating for the company. HC Wainwright reiterated a “buy” rating on shares of Biomea Fusion in a research report on Monday, August 24th. Finally, Citizens Jmp initiated coverage on Biomea Fusion in a research report on Tuesday, May 5th. They issued a “market outperform” rating and a $9.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Biomea Fusion presently has an average rating of “Moderate Buy” and an average price target of $9.00.

Biomea Fusion Stock Performance

NASDAQ BMEA opened at $1.73 on Friday. The company has a fifty day simple moving average of $1.34 and a two-hundred day simple moving average of $1.40. The stock has a market cap of $125.39 million, a P/E ratio of -5.97 and a beta of -0.28. Biomea Fusion has a 12-month low of $0.87 and a 12-month high of $2.99.

Biomea Fusion (NASDAQ:BMEA) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.10. As a group, sell-side analysts forecast that Biomea Fusion will post -0.73 earnings per share for the current year.

Hedge Funds Weigh In On Biomea Fusion

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Biomea Fusion by 15.4% during the third quarter. Vanguard Group Inc. now owns 2,170,066 shares of the company’s stock worth $4,384,000 after acquiring an additional 290,376 shares during the period. Renaissance Technologies LLC grew its position in shares of Biomea Fusion by 174.3% in the first quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company’s stock valued at $2,009,000 after purchasing an additional 834,179 shares during the period. Marshall Wace LLP increased its stake in shares of Biomea Fusion by 293.7% during the fourth quarter. Marshall Wace LLP now owns 1,160,351 shares of the company’s stock worth $1,439,000 after purchasing an additional 865,618 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Biomea Fusion during the 2nd quarter worth about $1,052,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Biomea Fusion during the 4th quarter worth about $783,000. Hedge funds and other institutional investors own 96.72% of the company’s stock.

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.