Biomea Fusion (NASDAQ:BMEA) PT Lowered to $22.00 at Citigroup

Biomea Fusion (NASDAQ:BMEA) had its price target lowered by Citigroup from $45.00 to $22.00 in a research report released on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.

BMEA has been the topic of several other reports. Truist Financial lowered shares of Biomea Fusion from a buy rating to a hold rating in a research note on Tuesday, June 11th. JPMorgan Chase & Co. increased their target price on shares of Biomea Fusion from $14.00 to $15.00 and gave the stock a neutral rating in a research note on Friday, May 3rd. Scotiabank dropped their price objective on shares of Biomea Fusion from $41.00 to $21.00 and set a sector outperform rating on the stock in a research note on Friday, June 7th. HC Wainwright reaffirmed a buy rating and issued a $15.00 price objective on shares of Biomea Fusion in a research note on Thursday, August 1st. Finally, Barclays lowered shares of Biomea Fusion from an overweight rating to an equal weight rating and dropped their price objective for the company from $30.00 to $5.00 in a research note on Friday, June 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $25.33.

Biomea Fusion Stock Up 1.1 %

Shares of NASDAQ BMEA opened at $7.62 on Tuesday. The firm has a market cap of $273.90 million, a PE ratio of -2.13 and a beta of -0.52. Biomea Fusion has a 12-month low of $3.61 and a 12-month high of $22.74. The company’s fifty day simple moving average is $5.57 and its 200 day simple moving average is $10.31.

Biomea Fusion (NASDAQ:BMEA) last issued its earnings results on Wednesday, July 31st. The company reported ($1.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.03). On average, equities analysts predict that Biomea Fusion will post -4.09 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Signaturefd LLC bought a new position in shares of Biomea Fusion during the fourth quarter valued at about $36,000. Quest Partners LLC bought a new position in shares of Biomea Fusion during the fourth quarter valued at about $79,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Biomea Fusion by 66.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,862 shares of the company’s stock valued at $103,000 after purchasing an additional 2,731 shares in the last quarter. Centaurus Financial Inc. bought a new position in shares of Biomea Fusion during the fourth quarter valued at about $102,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Biomea Fusion during the fourth quarter valued at about $116,000. 96.72% of the stock is owned by institutional investors.

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.