Biomea Fusion (NASDAQ:BMEA) Stock Rating Lowered by Wall Street Zen

Biomea Fusion (NASDAQ:BMEA) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Sunday, Wall Street Zen reports.

BMEA has been the topic of several other reports. HC Wainwright reiterated a “buy” rating on shares of Biomea Fusion in a research report on Monday, August 24th. Weiss Ratings cut Biomea Fusion from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 1st. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Biomea Fusion Stock Performance

Shares of BMEA opened at $2.03 on Friday. The stock has a fifty day moving average of $1.41 and a two-hundred day moving average of $1.43. The company has a market capitalization of $147.13 million, a PE ratio of -7.00 and a beta of -0.23. Biomea Fusion has a fifty-two week low of $0.87 and a fifty-two week high of $2.99.

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

Institutional Trading of Biomea Fusion

Institutional investors have recently made changes to their positions in the stock. ADAR1 Capital Management LLC purchased a new position in shares of Biomea Fusion in the 2nd quarter worth $64,000. BlackRock Inc. purchased a new stake in Biomea Fusion during the second quarter valued at about $1,052,000. GSA Capital Partners LLP purchased a new stake in Biomea Fusion during the second quarter valued at about $318,000. Rathbones Group PLC acquired a new stake in Biomea Fusion during the first quarter worth about $57,000. Finally, Renaissance Technologies LLC increased its stake in Biomea Fusion by 174.3% during the first quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company’s stock worth $2,009,000 after acquiring an additional 834,179 shares during the last quarter. 96.72% of the stock is owned by hedge funds and other institutional investors.

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.