Biomea Fusion, Inc. (NASDAQ:BMEA) Short Interest Update

Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 10,870,000 shares, a growth of 9.6% from the November 30th total of 9,920,000 shares. Based on an average trading volume of 953,600 shares, the short-interest ratio is currently 11.4 days. Approximately 34.4% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Truist Financial upgraded Biomea Fusion from a "hold" rating to a "buy" rating and set a $54.00 target price on the stock in a report on Friday, September 27th. Barclays upped their price objective on shares of Biomea Fusion from $9.00 to $11.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. HC Wainwright reissued a "buy" rating and set a $40.00 target price on shares of Biomea Fusion in a research note on Monday, December 16th. Piper Sandler upped their price target on shares of Biomea Fusion from $10.00 to $19.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Finally, D. Boral Capital reiterated a "buy" rating and set a $128.00 price target on shares of Biomea Fusion in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Biomea Fusion presently has an average rating of "Buy" and a consensus price target of $39.36.

Biomea Fusion Stock Performance

Shares of BMEA stock remained flat at $3.88 during trading hours on Tuesday. The stock had a trading volume of 731,398 shares, compared to its average volume of 1,002,092. The company has a market capitalization of $140.61 million, a P/E ratio of -0.97 and a beta of -0.53. Biomea Fusion has a 52 week low of $3.61 and a 52 week high of $20.21. The firm has a 50 day moving average of $7.11 and a two-hundred day moving average of $7.04.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($0.94) by $0.03. As a group, equities research analysts predict that Biomea Fusion will post -3.93 earnings per share for the current year.

Institutional Investors Weigh In On Biomea Fusion

Large investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. increased its stake in shares of Biomea Fusion by 64.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company's stock worth $70,000 after purchasing an additional 2,741 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Biomea Fusion during the second quarter valued at $36,000. Scientech Research LLC purchased a new stake in Biomea Fusion in the second quarter worth $46,000. The Manufacturers Life Insurance Company bought a new stake in shares of Biomea Fusion in the third quarter valued at $111,000. Finally, DRW Securities LLC bought a new stake in shares of Biomea Fusion in the second quarter valued at $55,000. 96.72% of the stock is owned by hedge funds and other institutional investors.

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.