HC Wainwright Reiterates Buy Rating for Biomea Fusion (NASDAQ:BMEA)

Biomea Fusion (NASDAQ:BMEA)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $40.00 target price on the stock.

Separately, D. Boral Capital reaffirmed a “buy” rating and set a $16.00 target price on shares of Biomea Fusion in a report on Wednesday, March 19th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $29.18.

Biomea Fusion Stock Up 0.0 %

Shares of Biomea Fusion stock traded up $0.00 during trading on Monday, reaching $2.87. The company’s stock had a trading volume of 814,427 shares, compared to its average volume of 637,549. The company has a 50-day simple moving average of $3.47 and a two-hundred day simple moving average of $6.16. Biomea Fusion has a 1-year low of $2.35 and a 1-year high of $16.29. The company has a market cap of $104.04 million, a price-to-earnings ratio of -0.72 and a beta of -0.26.

Hedge Funds Weigh In On Biomea Fusion

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new stake in Biomea Fusion during the fourth quarter valued at approximately $317,000. Wexford Capital LP boosted its holdings in Biomea Fusion by 2.3% during the fourth quarter. Wexford Capital LP now owns 133,343 shares of the company’s stock worth $517,000 after buying an additional 3,007 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Biomea Fusion by 290.7% in the 4th quarter. Two Sigma Advisers LP now owns 459,500 shares of the company’s stock valued at $1,783,000 after purchasing an additional 341,900 shares during the period. Two Sigma Investments LP raised its holdings in shares of Biomea Fusion by 104.4% during the fourth quarter. Two Sigma Investments LP now owns 559,930 shares of the company’s stock valued at $2,173,000 after acquiring an additional 286,049 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Biomea Fusion in the fourth quarter worth approximately $766,000. 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.