Brokerages Set Biomea Fusion, Inc. (NASDAQ:BMEA) Price Target at $53.13

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have received an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $53.13.

Several analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Biomea Fusion in a research report on Monday, April 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $14.00 price target (down from $51.00) on shares of Biomea Fusion in a research report on Tuesday, April 2nd. Truist Financial reiterated a “buy” rating and set a $55.00 price target on shares of Biomea Fusion in a research report on Monday, April 1st. Finally, Oppenheimer reiterated an “outperform” rating and set a $70.00 price target on shares of Biomea Fusion in a research report on Wednesday, April 3rd.

Institutional Trading of Biomea Fusion

Several large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its holdings in Biomea Fusion by 1.9% in the 4th quarter. Renaissance Technologies LLC now owns 63,000 shares of the company’s stock valued at $531,000 after buying an additional 1,200 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Biomea Fusion in the 2nd quarter valued at about $36,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Biomea Fusion by 89.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,744 shares of the company’s stock worth $65,000 after buying an additional 2,242 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Biomea Fusion by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 9,248 shares of the company’s stock valued at $134,000 after acquiring an additional 2,345 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Biomea Fusion by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 176,797 shares of the company’s stock valued at $2,567,000 after acquiring an additional 2,369 shares during the period. 96.72% of the stock is currently owned by hedge funds and other institutional investors.

Biomea Fusion Price Performance

Biomea Fusion stock opened at $12.51 on Thursday. The stock has a market capitalization of $448.98 million, a PE ratio of -3.62 and a beta of -0.52. Biomea Fusion has a 12 month low of $8.13 and a 12 month high of $43.69. The business has a 50 day simple moving average of $15.93 and a 200-day simple moving average of $14.19.

Biomea Fusion Company Profile

Biomea Fusion, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of covalent small molecule drugs to treat patients with genetically defined cancers and metabolic diseases. Its lead product candidate is BMF-219, an orally bioavailable, potent, and selective covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.