Biomea Fusion, Inc. (NASDAQ:BMEA) Director Acquires $100,600.00 in Stock

Biomea Fusion, Inc. (NASDAQ:BMEA) Director Michael J.M. Hitchcock purchased 10,000 shares of the 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 acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at $150,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Biomea Fusion Stock Performance

Shares of NASDAQ BMEA opened at $10.13 on Thursday. The stock has a 50 day moving average price of $7.16 and a 200 day moving average price of $8.80. Biomea Fusion, Inc. has a 52 week low of $3.61 and a 52 week high of $22.74. The stock has a market capitalization of $364.12 million, a PE ratio of -2.84 and a beta of -0.47.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($1.03) EPS for the quarter, meeting the consensus estimate of ($1.03). As a group, research analysts forecast that Biomea Fusion, Inc. will post -4.09 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on BMEA. Citigroup lowered their price target on Biomea Fusion from $45.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. Capital One Financial began coverage on Biomea Fusion in a report on Thursday, August 29th. They issued an “overweight” rating and a $25.00 price target for the company. RODMAN&RENSHAW upgraded Biomea Fusion to a “strong-buy” rating in a report on Thursday, September 26th. Barclays increased their price target on Biomea Fusion from $5.00 to $9.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Finally, Truist Financial raised Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Friday, September 27th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in Biomea Fusion in the second quarter valued at approximately $36,000. High Net Worth Advisory Group LLC bought a new stake in Biomea Fusion in the second quarter valued at approximately $45,000. Scientech Research LLC bought a new stake in Biomea Fusion in the second quarter valued at approximately $46,000. DRW Securities LLC bought a new stake in Biomea Fusion in the second quarter valued at approximately $55,000. Finally, Centaurus Financial Inc. bought a new stake in Biomea Fusion in the fourth quarter valued at approximately $102,000. 96.72% of the stock is owned by institutional investors and hedge funds.

Biomea Fusion Company Profile

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.