Recent Research Analysts’ Ratings Changes for Biomea Fusion (BMEA)

by · The Markets Daily

Biomea Fusion (NASDAQ: BMEA) has recently received a number of price target changes and ratings updates:

  • 10/31/2024 – Biomea Fusion had its price target raised by analysts at Piper Sandler from $10.00 to $19.00. They now have an “overweight” rating on the stock.
  • 10/31/2024 – Biomea Fusion had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $40.00 price target on the stock.
  • 10/30/2024 – Biomea Fusion had its price target raised by analysts at Barclays PLC from $9.00 to $11.00. They now have an “equal weight” rating on the stock.
  • 10/22/2024 – Biomea Fusion had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $40.00 price target on the stock.
  • 10/9/2024 – Biomea Fusion was upgraded by analysts at EF Hutton Acquisition Co. I to a “strong-buy” rating.
  • 9/27/2024 – Biomea Fusion had its price target raised by analysts at Scotiabank from $21.00 to $41.00. They now have a “sector outperform” rating on the stock.
  • 9/27/2024 – Biomea Fusion had its price target raised by analysts at Barclays PLC from $5.00 to $9.00. They now have an “equal weight” rating on the stock.
  • 9/27/2024 – Biomea Fusion had its price target raised by analysts at HC Wainwright from $15.00 to $40.00. They now have a “buy” rating on the stock.
  • 9/27/2024 – Biomea Fusion was upgraded by analysts at Truist Financial Co. from a “hold” rating to a “buy” rating. They now have a $54.00 price target on the stock.
  • 9/26/2024 – Biomea Fusion was upgraded by analysts at RODMAN&RENSHAW to a “strong-buy” rating.
  • 9/26/2024 – Biomea Fusion was upgraded by analysts at Rodman & Renshaw from a “neutral” rating to a “buy” rating. They now have a $18.00 price target on the stock.

Biomea Fusion Price Performance

Shares of NASDAQ BMEA traded down $0.02 during midday trading on Tuesday, reaching $8.01. The company’s stock had a trading volume of 452,917 shares, compared to its average volume of 1,014,032. Biomea Fusion, Inc. has a 12-month low of $3.61 and a 12-month high of $22.74. The firm has a 50 day moving average price of $9.53 and a 200-day moving average price of $8.19. The stock has a market capitalization of $290.28 million, a P/E ratio of -2.00 and a beta of -0.41.

Biomea Fusion (NASDAQ:BMEA – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($0.94) by $0.03. On average, equities analysts predict that Biomea Fusion, Inc. will post -3.93 EPS for the current year.

Insider Transactions at Biomea Fusion

In other Biomea Fusion news, Director Michael J.M. Hitchcock bought 10,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was acquired at an average price of $10.06 per share, with a total value of $100,600.00. Following the completion of the purchase, the director now owns 15,000 shares of the company’s stock, valued at approximately $150,900. This trade represents a 200.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 27.57% of the stock is currently owned by company insiders.

Institutional Trading of Biomea Fusion

A number of large investors have recently modified their holdings of the company. Renaissance Technologies LLC acquired a new position in shares of Biomea Fusion during the second quarter valued at about $1,481,000. Griffin Asset Management Inc. boosted its holdings in Biomea Fusion by 147.0% during the third quarter. Griffin Asset Management Inc. now owns 96,070 shares of the company’s stock worth $970,000 after buying an additional 57,180 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Biomea Fusion during the second quarter worth $237,000. XTX Topco Ltd purchased a new stake in Biomea Fusion during the second quarter worth $207,000. Finally, iA Global Asset Management Inc. acquired a new position in Biomea Fusion during the second quarter worth $174,000. Hedge funds and other institutional investors own 96.72% of the company’s stock.

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.

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