Biomea Fusion’s (BMEA) Buy Rating Reiterated at D. Boral Capital
by Kim Johansen · The Markets DailyD. Boral Capital reissued their buy rating on shares of Biomea Fusion (NASDAQ:BMEA – Free Report) in a research note released on Wednesday morning,Benzinga reports. The firm currently has a $12.00 price objective on the stock.
BMEA has been the subject of several other research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Biomea Fusion in a research report on Wednesday, January 21st. Wall Street Zen raised shares of Biomea Fusion from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Rodman & Renshaw started coverage on shares of Biomea Fusion in a research report on Tuesday, January 13th. They issued a “buy” rating and a $8.00 target price for the company. Finally, Citigroup boosted their target price on shares of Biomea Fusion from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.57.
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Biomea Fusion Stock Performance
Shares of NASDAQ BMEA opened at $1.87 on Wednesday. Biomea Fusion has a 1 year low of $0.87 and a 1 year high of $3.08. The firm’s 50 day moving average price is $1.36 and its 200 day moving average price is $1.40. The firm has a market cap of $135.20 million, a P/E ratio of -1.43 and a beta of -0.25.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Scientech Research LLC acquired a new stake in shares of Biomea Fusion in the 3rd quarter worth approximately $25,000. Engineers Gate Manager LP acquired a new stake in shares of Biomea Fusion in the 2nd quarter worth approximately $26,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Biomea Fusion in the 3rd quarter worth approximately $32,000. Virtu Financial LLC acquired a new stake in shares of Biomea Fusion in the 3rd quarter worth approximately $39,000. Finally, Millennium Management LLC lifted its stake in shares of Biomea Fusion by 156.7% in the 4th quarter. Millennium Management LLC now owns 25,677 shares of the company’s stock worth $32,000 after acquiring an additional 15,675 shares during the period. 96.72% of the stock is owned by institutional investors and hedge funds.
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.