D. Boral Capital Reaffirms “Buy” Rating for Biomea Fusion (NASDAQ:BMEA)

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating reaffirmed by D. Boral Capital in a report released on Tuesday,Benzinga reports. They presently have a $12.00 price objective on the stock.

A number of other equities analysts have also commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biomea Fusion in a research note on Monday, April 20th. Rodman & Renshaw started coverage on Biomea Fusion in a research note on Tuesday, January 13th. They issued a “buy” rating and a $8.00 price objective on the stock. Citigroup lifted their price objective on Biomea Fusion from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Friday, March 27th. Finally, Wall Street Zen raised Biomea Fusion from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.57.

Biomea Fusion Stock Performance

Shares of Biomea Fusion stock traded down $0.08 on Tuesday, hitting $1.66. The stock had a trading volume of 752,827 shares, compared to its average volume of 1,383,642. The stock has a 50 day moving average of $1.51 and a 200 day moving average of $1.38. Biomea Fusion has a twelve month low of $0.87 and a twelve month high of $3.08. The firm has a market capitalization of $119.66 million, a P/E ratio of -1.25 and a beta of -0.25.

Institutional Investors Weigh In On Biomea Fusion

Hedge funds have recently added to or reduced their stakes in the company. Scientech Research LLC purchased a new position in Biomea Fusion during the 3rd quarter worth $25,000. Engineers Gate Manager LP purchased a new stake in shares of Biomea Fusion in the second quarter valued at about $26,000. Millennium Management LLC raised its holdings in shares of Biomea Fusion by 156.7% in the fourth 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 last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Biomea Fusion in the third quarter valued at about $32,000. Finally, Virtu Financial LLC purchased a new stake in shares of Biomea Fusion in the third quarter valued at about $39,000. Institutional investors and hedge funds 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.