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

Biomea Fusion, Inc. (NASDAQ:BMEA) saw a significant growth in short interest during 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 daily 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.

Biomea Fusion Stock Performance

NASDAQ:BMEA opened at $3.98 on Wednesday. The stock has a 50-day simple moving average of $4.74 and a two-hundred day simple moving average of $6.89. The firm has a market capitalization of $144.23 million, a PE ratio of -0.99 and a beta of -0.34. Biomea Fusion has a 52-week low of $3.61 and a 52-week high of $19.89.

Analyst Ratings Changes

A number of analysts have recently commented on BMEA shares. D. Boral Capital reiterated a “buy” rating and issued a $128.00 price target on shares of Biomea Fusion in a research note on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 target price on shares of Biomea Fusion in a research report on Tuesday, January 14th. EF Hutton Acquisition Co. I raised Biomea Fusion to a “strong-buy” rating in a report on Wednesday, October 9th. Barclays raised their price target on Biomea Fusion from $9.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler upped their price objective on Biomea Fusion from $10.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Two investment 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. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $39.36.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC purchased a new position in shares of Biomea Fusion in the second quarter valued at about $109,000. Squarepoint Ops LLC bought a new stake in Biomea Fusion during the 2nd quarter valued at approximately $237,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Biomea Fusion in the 2nd quarter worth approximately $36,000. Exchange Traded Concepts LLC boosted its stake in Biomea Fusion by 62.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 20,985 shares of the company’s stock worth $212,000 after purchasing an additional 8,079 shares during the period. Finally, Griffin Asset Management Inc. grew its holdings in Biomea Fusion by 147.0% during the 3rd quarter. Griffin Asset Management Inc. now owns 96,070 shares of the company’s stock valued at $970,000 after buying an additional 57,180 shares in the last quarter. 96.72% of the stock is currently owned by institutional investors.

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.