Barclays Lowers Biomea Fusion (NASDAQ:BMEA) Price Target to $3.00

Biomea Fusion (NASDAQ:BMEA) had its price objective decreased by Barclays from $11.00 to $3.00 in a research note released on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

BMEA has been the subject of several other reports. D. Boral Capital restated a “buy” rating and set a $16.00 target price on shares of Biomea Fusion in a report on Wednesday, March 19th. Oppenheimer set a $10.00 price target on Biomea Fusion in a report on Monday, March 24th. Finally, HC Wainwright reiterated a “buy” rating and set a $40.00 price objective on shares of Biomea Fusion in a research report on Monday. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $23.91.

Biomea Fusion Stock Performance

NASDAQ:BMEA opened at $2.16 on Wednesday. The stock has a market capitalization of $78.28 million, a price-to-earnings ratio of -0.54 and a beta of -0.26. Biomea Fusion has a 1 year low of $1.87 and a 1 year high of $14.43. The stock has a fifty day moving average price of $3.19 and a two-hundred day moving average price of $5.89.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Monday, March 31st. The company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.19. On average, analysts predict that Biomea Fusion will post -3.93 EPS for the current year.

Hedge Funds Weigh In On Biomea Fusion

A number of large investors have recently bought and sold shares of the stock. Bayesian Capital Management LP acquired a new stake in shares of Biomea Fusion during the 4th quarter worth $42,000. Wells Fargo & Company MN boosted its holdings in Biomea Fusion by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 12,914 shares of the company’s stock valued at $50,000 after acquiring an additional 4,399 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Biomea Fusion during the fourth quarter valued at about $54,000. SG Americas Securities LLC acquired a new stake in Biomea Fusion during the 4th quarter worth approximately $58,000. Finally, Maia Wealth LLC acquired a new stake in shares of Biomea Fusion in the fourth quarter worth $62,000. Hedge funds and other institutional investors own 96.72% of the company’s stock.

About Biomea Fusion

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, a covalent inhibitor of menin for treating patients with liquid and solid tumors and type 2 diabetes.