Biomea Fusion’s (BMEA) “Buy” Rating Reiterated at D. Boral Capital

D. Boral Capital reaffirmed their buy rating on shares of Biomea Fusion (NASDAQ:BMEA) in a research report report published on Tuesday,Benzinga reports. D. Boral Capital currently has a $12.00 target price on the stock.

Several other analysts also recently weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Biomea Fusion in a research report on Wednesday, October 8th. Citigroup cut their price target on Biomea Fusion from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Biomea Fusion currently has an average rating of “Moderate Buy” and a consensus price target of $8.78.

Biomea Fusion Trading Down 13.9%

NASDAQ:BMEA opened at $1.40 on Tuesday. The stock has a 50 day moving average of $1.27 and a 200-day moving average of $1.60. The firm has a market capitalization of $98.63 million, a PE ratio of -0.58 and a beta of -0.16. Biomea Fusion has a 52 week low of $0.87 and a 52 week high of $4.59.

Biomea Fusion (NASDAQ:BMEA) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.01). As a group, analysts predict that Biomea Fusion will post -3.93 EPS for the current fiscal year.

Insider Activity

In related news, insider Rainer M. Erdtmann acquired 30,000 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were acquired at an average price of $1.43 per share, for a total transaction of $42,900.00. Following the completion of the purchase, the insider directly owned 723,027 shares of the company’s stock, valued at $1,033,928.61. The trade was a 4.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 18.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BMEA. Aisling Capital Management LP grew its stake in shares of Biomea Fusion by 156.5% in the second quarter. Aisling Capital Management LP now owns 2,048,757 shares of the company’s stock worth $3,688,000 after acquiring an additional 1,250,000 shares during the last quarter. XTX Topco Ltd bought a new stake in Biomea Fusion in the 2nd quarter valued at $270,000. Marex Group plc bought a new stake in Biomea Fusion in the 2nd quarter valued at $81,000. Griffin Asset Management Inc. grew its position in Biomea Fusion by 19.5% in the 3rd quarter. Griffin Asset Management Inc. now owns 61,300 shares of the company’s stock worth $124,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Biomea Fusion during the 3rd quarter worth about $32,000. Institutional investors and hedge funds own 96.72% of the company’s stock.

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.