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

Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) saw a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 9,920,000 shares, a growth of 5.4% from the November 15th total of 9,410,000 shares. Based on an average daily trading volume, of 773,600 shares, the short-interest ratio is presently 12.8 days. Approximately 31.4% of the shares of the company are sold short.

Insider Activity at Biomea Fusion

In related news, Director Michael J.M. Hitchcock bought 10,000 shares of the company's stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average price of $10.06 per share, for a total transaction of $100,600.00. Following the completion of the acquisition, the director now owns 15,000 shares of the company's stock, valued at $150,900. This trade represents a 200.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 27.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BMEA. FMR LLC lifted its position in Biomea Fusion by 0.7% during the third quarter. FMR LLC now owns 5,431,525 shares of the company's stock valued at $54,858,000 after purchasing an additional 39,959 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Biomea Fusion by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 601,479 shares of the company's stock valued at $6,076,000 after acquiring an additional 4,291 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Biomea Fusion in the second quarter worth about $1,481,000. Charles Schwab Investment Management Inc. increased its stake in Biomea Fusion by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 208,391 shares of the company's stock worth $2,105,000 after acquiring an additional 7,551 shares during the last quarter. Finally, Wexford Capital LP raised its position in Biomea Fusion by 26.9% during the third quarter. Wexford Capital LP now owns 130,336 shares of the company's stock valued at $1,316,000 after purchasing an additional 27,619 shares during the period. 96.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BMEA shares. HC Wainwright restated a "buy" rating and issued a $40.00 price target on shares of Biomea Fusion in a research note on Monday. Truist Financial raised Biomea Fusion from a "hold" rating to a "buy" rating and set a $54.00 target price on the stock in a research report on Friday, September 27th. Citigroup reduced their price target on shares of Biomea Fusion from $45.00 to $22.00 and set a "buy" rating for the company in a research report on Tuesday, August 27th. D. Boral Capital restated a "buy" rating and set a $128.00 target price on shares of Biomea Fusion in a research report on Tuesday, December 10th. Finally, Piper Sandler increased their price target on shares of Biomea Fusion from $10.00 to $19.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Biomea Fusion presently has a consensus rating of "Buy" and an average target price of $39.36.

Biomea Fusion Stock Up 3.7 %

NASDAQ BMEA traded up $0.21 on Monday, reaching $5.85. The company had a trading volume of 591,611 shares, compared to its average volume of 978,918. The firm's 50 day moving average price is $8.51 and its 200 day moving average price is $7.31. Biomea Fusion has a 12 month low of $3.61 and a 12 month high of $20.21. The stock has a market capitalization of $212.00 million, a PE ratio of -1.46 and a beta of -0.53.

Biomea Fusion (NASDAQ:BMEA - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.91) EPS for the quarter, beating analysts' consensus estimates of ($0.94) by $0.03. On average, research analysts expect that Biomea Fusion will post -3.93 EPS for the current year.

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.