HC Wainwright reaffirmed their buy rating on shares of Biomea Fusion (NASDAQ:BMEA – Get Rating) in a report published on Friday morning. They currently have a $37.00 target price on the stock. HC Wainwright also issued estimates for Biomea Fusion's FY2024 earnings at ($2.53) EPS, FY2025 earnings at ($2.68) EPS and FY2026 earnings at ($2.28) EPS.
Separately, EF Hutton Acquisition Co. I reduced their target price on Biomea Fusion from $27.00 to $22.00 and set a buy rating on the stock in a research report on Tuesday, November 8th.
Get Biomea Fusion alerts:Biomea Fusion Price Performance
Shares of NASDAQ:BMEA opened at $7.91 on Friday. The business's 50-day moving average is $8.41 and its 200 day moving average is $10.01. Biomea Fusion has a 1 year low of $2.84 and a 1 year high of $14.20. The firm has a market capitalization of $232.52 million, a P/E ratio of -3.24 and a beta of -1.80.
Insider Buying and Selling at Biomea Fusion
In related news, Director Michael J.M. Hitchcock bought 5,000 shares of the stock in a transaction dated Monday, November 14th. The shares were purchased at an average price of $7.93 per share, for a total transaction of $39,650.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company's stock, valued at $39,650. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 45.70% of the company's stock.Institutional Investors Weigh In On Biomea Fusion
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Biomea Fusion by 2.0% during the first quarter. BlackRock Inc. now owns 1,705,442 shares of the company's stock worth $7,606,000 after buying an additional 32,634 shares during the period. Vanguard Group Inc. boosted its holdings in Biomea Fusion by 18.5% in the third quarter. Vanguard Group Inc. now owns 803,118 shares of the company's stock valued at $7,854,000 after purchasing an additional 125,311 shares during the period. Laurion Capital Management LP boosted its holdings in Biomea Fusion by 2.2% in the third quarter. Laurion Capital Management LP now owns 429,400 shares of the company's stock valued at $4,200,000 after purchasing an additional 9,251 shares during the period. Citadel Advisors LLC boosted its holdings in Biomea Fusion by 540.5% in the second quarter. Citadel Advisors LLC now owns 335,191 shares of the company's stock valued at $4,016,000 after purchasing an additional 282,855 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Biomea Fusion by 1,475.9% in the second quarter. JPMorgan Chase & Co. now owns 273,925 shares of the company's stock valued at $3,281,000 after purchasing an additional 256,543 shares during the period. Institutional investors and hedge funds own 58.19% of the company's stock.
Biomea Fusion Company Profile
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Biomea Fusion, Inc, a 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, an orally bioavailable, potent, and selective covalent inhibitor of menin, a transcriptional regulator in oncogenic signaling in multiple cancers.
Further Reading
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