Brokerages Set Biomea Fusion, Inc. (NASDAQ:BMEA) Price Target at $39.36

Biomea Fusion, Inc. (NASDAQ:BMEA) has been given an average rating of “Buy” by the thirteen ratings firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $39.36.

BMEA has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Biomea Fusion in a research report on Tuesday, January 14th. Piper Sandler raised their price target on shares of Biomea Fusion from $10.00 to $19.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. D. Boral Capital reiterated a “buy” rating and issued a $128.00 price objective on shares of Biomea Fusion in a report on Friday, January 10th. Finally, Barclays raised their target price on Biomea Fusion from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th.

Institutional Investors Weigh In On Biomea Fusion

A number of institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in Biomea Fusion by 14.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 24,005 shares of the company’s stock worth $93,000 after acquiring an additional 3,005 shares in the last quarter. Maia Wealth LLC purchased a new stake in Biomea Fusion during the fourth quarter worth about $62,000. SG Americas Securities LLC acquired a new stake in shares of Biomea Fusion during the fourth quarter worth about $58,000. Barclays PLC boosted its stake in shares of Biomea Fusion by 156.3% in the third quarter. Barclays PLC now owns 39,620 shares of the company’s stock valued at $401,000 after purchasing an additional 24,162 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Biomea Fusion by 0.7% in the third quarter. Geode Capital Management LLC now owns 601,479 shares of the company’s stock valued at $6,076,000 after purchasing an additional 4,291 shares in the last quarter. 96.72% of the stock is owned by institutional investors and hedge funds.

Biomea Fusion Stock Down 9.2 %

Shares of BMEA opened at $3.74 on Wednesday. Biomea Fusion has a 52-week low of $3.61 and a 52-week high of $19.35. The stock has a fifty day simple moving average of $4.55 and a two-hundred day simple moving average of $6.84. The company has a market capitalization of $135.54 million, a PE ratio of -0.93 and a beta of -0.34.

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.