Biomea Fusion Quarterly Financial Results
Biomea Fusion, listed on NASDAQ under the ticker BMEA, released its latest quarterly financial results.
Financial Performance
The company posted an earnings loss per share of $0.51, which was better than the anticipated $0.64 loss, exceeding analyst forecasts by $0.13.
Stock Information
Currently, BMEA stock trades at $1.58, within a 52-week range of $1.29 to $13.07. Notably, hedge fund AQR Capital Management increased its stake in Biomea Fusion by over 670% in the first quarter, now holding approximately 0.70% of the company.
Market Outlook and Analyst Ratings
Market analysts have highlighted Biomea Fusion as a promising stock, with several firms issuing buy ratings and target prices ranging from $7 to $20.
Company Focus and Leadership
Biomea Fusion specializes in developing covalent small molecule therapies for genetically defined cancers and metabolic disorders, with its lead candidate being BMF-219, aimed at treating tumors and type 2 diabetes.
Ownership and Strategic Position
Institutional investors currently own over 96% of the company's shares, reflectin...