Biomea Fusion (NASDAQ:BMEA) Stock Rating Lowered by Wall Street Zen

Biomea Fusion (NASDAQ:BMEA) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently issued reports on BMEA. Weiss Ratings restated a “sell (e+)” rating on shares of Biomea Fusion in a report on Monday, September 28th. Citigroup restated a “market outperform” rating on shares of Biomea Fusion in a research report on Wednesday, September 30th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $7.00 price target on shares of Biomea Fusion in a research note on Wednesday, October 14th. Brookline Capital Markets initiated coverage on shares of Biomea Fusion in a research report on Wednesday, October 7th. They issued a “buy” rating on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $4.00 price objective on shares of Biomea Fusion in a research note on Wednesday, October 14th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.60.

Biomea Fusion Price Performance

BMEA stock opened at $0.60 on Friday. The stock has a market capitalization of $43.50 million, a price-to-earnings ratio of -2.07 and a beta of -0.28. The business has a fifty day moving average price of $1.44 and a 200 day moving average price of $1.43. Biomea Fusion has a fifty-two week low of $0.58 and a fifty-two week high of $2.24.

Biomea Fusion (NASDAQ:BMEA) last announced its earnings results on Wednesday, August 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.10. On average, equities analysts expect that Biomea Fusion will post -0.65 earnings per share for the current fiscal year.

Institutional Trading of Biomea Fusion

Several hedge funds have recently added to or reduced their stakes in BMEA. Rathbones Group PLC bought a new position in Biomea Fusion during the 1st quarter worth about $57,000. ADAR1 Capital Management LLC bought a new stake in shares of Biomea Fusion in the second quarter valued at about $64,000. GSA Capital Partners LLP acquired a new position in shares of Biomea Fusion during the second quarter worth about $318,000. BlackRock Inc. acquired a new position in shares of Biomea Fusion during the second quarter worth about $1,052,000. Finally, Renaissance Technologies LLC boosted its position in shares of Biomea Fusion by 174.3% during the first quarter. Renaissance Technologies LLC now owns 1,312,798 shares of the company’s stock worth $2,009,000 after buying an additional 834,179 shares during the period. Institutional investors and hedge funds own 96.72% of the company’s stock.

Biomea Fusion Company Profile

Biomea Fusion, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for cancer and metabolic diseases. The company uses its proprietary FUSION System to discover and develop covalent medicines designed to engage disease-relevant protein targets.

Biomea’s lead investigational product is BMF-219, an oral, selective covalent inhibitor of menin. The company has evaluated BMF-219 in clinical studies for certain hematologic malignancies and solid tumors, including acute leukemias and multiple myeloma, and has also investigated its potential in metabolic diseases such as type 2 diabetes.