Brokerages Set Biomea Fusion, Inc. (NASDAQ:BMEA) PT at $8.78

Shares of Biomea Fusion, Inc. (NASDAQ:BMEA) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $8.7778.

BMEA has been the topic of a number of recent analyst reports. Rodman & Renshaw assumed 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 on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Biomea Fusion in a research report on Wednesday, January 21st. Finally, D. Boral Capital restated a “buy” rating and issued a $12.00 price objective on shares of Biomea Fusion in a research note on Tuesday, January 13th.

Biomea Fusion Trading Down 3.5%

BMEA stock opened at $1.36 on Thursday. Biomea Fusion has a twelve month low of $0.87 and a twelve month high of $3.08. The company’s 50 day moving average is $1.33 and its two-hundred day moving average is $1.47. The stock has a market cap of $96.15 million, a P/E ratio of -0.57 and a beta of -0.20.

Institutional Trading of Biomea Fusion

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in shares of Biomea Fusion by 670.5% in the 1st quarter. AQR Capital Management LLC now owns 264,028 shares of the company’s stock valued at $562,000 after purchasing an additional 229,763 shares during the period. XTX Topco Ltd acquired a new position in Biomea Fusion during the second quarter worth approximately $270,000. Scotia Capital Inc. acquired a new position in Biomea Fusion during the second quarter worth approximately $459,000. Aisling Capital Management LP lifted its stake in Biomea Fusion by 156.5% in the second quarter. Aisling Capital Management LP now owns 2,048,757 shares of the company’s stock valued at $3,688,000 after buying an additional 1,250,000 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in Biomea Fusion by 99.2% in the second quarter. Bridgeway Capital Management LLC now owns 70,300 shares of the company’s stock valued at $127,000 after buying an additional 35,000 shares during the last quarter. 96.72% of the stock is owned by hedge funds and other institutional investors.

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.