Biomea Fusion (NASDAQ:BMEA) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Biomea Fusion (NASDAQ:BMEA) from a hold rating to a sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other research firms have also commented on BMEA. HC Wainwright reaffirmed a “buy” rating and set a $4.00 target price on shares of Biomea Fusion in a report on Wednesday, October 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Biomea Fusion in a research report on Monday, September 28th. Brookline Capital Markets started coverage on Biomea Fusion in a research note on Wednesday, October 7th. They set a “buy” rating for the company. Citizens Jmp reaffirmed a “market outperform” rating and issued a $7.00 target price on shares of Biomea Fusion in a research report on Wednesday, October 14th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Biomea Fusion in a research report on Wednesday, September 30th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.60.

Biomea Fusion Trading Up 5.9%

BMEA stock opened at $0.64 on Friday. Biomea Fusion has a twelve month low of $0.55 and a twelve month high of $2.24. The company has a market capitalization of $46.07 million, a P/E ratio of -2.19 and a beta of -0.28. The firm has a 50 day simple moving average of $1.42 and a 200-day simple moving average of $1.39.

Biomea Fusion (NASDAQ:BMEA) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.10. On average, research analysts predict that Biomea Fusion will post -0.65 EPS for the current year.

Institutional Trading of Biomea Fusion

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its position in shares of Biomea Fusion by 174.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company’s stock valued at $2,009,000 after acquiring an additional 834,179 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Biomea Fusion during the 2nd quarter worth $1,052,000. ADAR1 Capital Management LLC acquired a new position in shares of Biomea Fusion in the 2nd quarter worth $64,000. GSA Capital Partners LLP acquired a new position in shares of Biomea Fusion in the 2nd quarter worth $318,000. Finally, Rathbones Group PLC acquired a new position in shares of Biomea Fusion in the 1st quarter worth $57,000. 96.72% of the stock is currently owned by institutional investors.

Biomea Fusion Company Profile

Biomea Fusion, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for cancer and metabolic diseases. The company uses its proprietary FUSION System to discover and develop covalent medicines designed to engage disease-relevant protein targets.

Biomea’s lead investigational product is BMF-219, an oral, selective covalent inhibitor of menin. The company has evaluated BMF-219 in clinical studies for certain hematologic malignancies and solid tumors, including acute leukemias and multiple myeloma, and has also investigated its potential in metabolic diseases such as type 2 diabetes.