Biomea Fusion (NASDAQ:BMEA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Biomea Fusion (NASDAQ:BMEA) from a sell rating to a hold rating in a research report report published on Saturday morning.

BMEA has been the topic of several other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Biomea Fusion in a research note on Wednesday, January 21st. D. Boral Capital reiterated a “buy” rating and issued a $12.00 target price on shares of Biomea Fusion in a research report on Wednesday, March 25th. Citigroup boosted their price target on Biomea Fusion from $6.00 to $7.00 and gave the company a “buy” rating in a report on Friday. Finally, Rodman & Renshaw assumed coverage on Biomea Fusion in a research report on Tuesday, January 13th. They set a “buy” rating and a $8.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Biomea Fusion presently has an average rating of “Moderate Buy” and an average target price of $8.75.

Biomea Fusion Stock Performance

Shares of BMEA stock opened at $1.32 on Friday. Biomea Fusion has a one year low of $0.87 and a one year high of $3.08. The company’s 50-day simple moving average is $1.29 and its 200-day simple moving average is $1.41. The stock has a market capitalization of $95.44 million, a price-to-earnings ratio of -1.01 and a beta of -0.20.

Hedge Funds Weigh In On Biomea Fusion

A number of large investors have recently bought and sold shares of BMEA. Scientech Research LLC acquired a new position in Biomea Fusion in the third quarter valued at approximately $25,000. Engineers Gate Manager LP acquired a new stake in shares of Biomea Fusion during the 2nd quarter worth approximately $26,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Biomea Fusion in the 3rd quarter worth approximately $32,000. Virtu Financial LLC bought a new stake in shares of Biomea Fusion in the 3rd quarter worth approximately $39,000. Finally, 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 purchasing an additional 15,675 shares during the period. 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.