Bet_Noire Truist Securities has lowered its rating on Biomea Fusion ( NASDAQ: BMEA ) to hold, citing uncertainty about the timeline for resolving an FDA clinical hold on the company’s lead asset BMF-219. “We expect the stock to trade in a band, following the pullback, until the hold is lifted and there is clarity on a path forward for the drug,” Truist said in its note. Truist also withdrew its price target on the stock, citing recent volatility in the shares and low share price.
“If the data in Q4 are positive and if the clinical hold is lifted, we see potential for the stock to appreciate,” it added. More on Biomea Fusion Biggest stock movers today: GME, DOCU, MTN, and more Biomea Fusion cut at Barclays following clinical hold Seeking Alpha’s Quant Rating on Biomea Fusion Historical earnings data for Biomea Fusion Financial information for Biomea Fusion.
