Biomea Fusion, Inc. (NASDAQ:BMEA) Short Interest Up 6.2% in January

Biomea Fusion, Inc. (NASDAQ:BMEAGet Free Report) was the recipient of a large 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 trading volume of 891,600 shares, the days-to-cover ratio is currently 12.9 days. Approximately 36.5% of the company’s shares are sold short.

Analyst Ratings Changes

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

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Hedge Funds Weigh In On Biomea Fusion

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Biomea Fusion during the second quarter worth $36,000. SG Americas Securities LLC purchased a new position in shares of Biomea Fusion in the 4th quarter valued at $58,000. China Universal Asset Management Co. Ltd. raised its position in shares of Biomea Fusion by 64.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,964 shares of the company’s stock worth $70,000 after acquiring an additional 2,741 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Biomea Fusion during the 2nd quarter worth $109,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Biomea Fusion during the third quarter valued at about $111,000. 96.72% of the stock is currently owned by institutional investors.

Biomea Fusion Stock Performance

NASDAQ BMEA opened at $4.18 on Monday. Biomea Fusion has a one year low of $3.61 and a one year high of $20.21. The company has a market capitalization of $151.48 million, a price-to-earnings ratio of -1.04 and a beta of -0.35. The company’s 50-day simple moving average is $4.85 and its two-hundred day simple moving average is $6.91.

About Biomea Fusion

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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.

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