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

Biomea Fusion, Inc. (NASDAQ:BMEA - Get Free Report) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 11,540,000 shares, a growth of 6.2% from the December 31st total of 10,870,000 shares. Based on an average trading volume of 891,600 shares, the short-interest ratio is presently 12.9 days. Approximately 36.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BMEA. Barclays increased their target price on Biomea Fusion from $9.00 to $11.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Piper Sandler boosted their target price 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. EF Hutton Acquisition Co. I upgraded shares of Biomea Fusion to a "strong-buy" rating in a research report on Wednesday, October 9th. D. Boral Capital reissued a "buy" rating and set a $128.00 price objective on shares of Biomea Fusion in a research report on Friday, January 10th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $40.00 target price on shares of Biomea Fusion in a report on Tuesday, January 14th. Two equities research 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, the company presently has an average rating of "Buy" and a consensus target price of $39.36.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BMEA. Point72 Asia Singapore Pte. Ltd. bought a new position in Biomea Fusion during the second quarter valued at approximately $36,000. SG Americas Securities LLC bought a new position in shares of Biomea Fusion during the 4th quarter valued at approximately $58,000. Maia Wealth LLC purchased a new position in shares of Biomea Fusion in the fourth quarter valued at $62,000. China Universal Asset Management Co. Ltd. raised its stake in Biomea Fusion by 64.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company's stock valued at $70,000 after purchasing an additional 2,741 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Biomea Fusion during the second quarter valued at $109,000. Institutional investors own 96.72% of the company's stock.

Biomea Fusion Stock Performance

Shares of Biomea Fusion stock traded down $0.04 on Thursday, hitting $4.12. 241,569 shares of the company traded hands, compared to its average volume of 667,036. The business has a 50-day simple moving average of $4.62 and a 200 day simple moving average of $6.85. Biomea Fusion has a 52 week low of $3.61 and a 52 week high of $19.35. The stock has a market capitalization of $149.31 million, a P/E ratio of -1.03 and a beta of -0.34.

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.