Biomea Fusion, Inc. (NASDAQ:BMEA) Short Interest Up 5.5% in December

Biomea Fusion, Inc. (NASDAQ:BMEAGet Rating) was the target of a significant growth in short interest during the month of December. As of December 30th, there was short interest totalling 548,400 shares, a growth of 5.5% from the December 15th total of 520,000 shares. Currently, 2.2% of the company’s stock are sold short. Based on an average trading volume of 69,000 shares, the days-to-cover ratio is presently 7.9 days.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BMEA. EF Hutton Acquisition Co. I decreased their price objective on shares of Biomea Fusion from $27.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, November 8th. HC Wainwright restated a “buy” rating and set a $37.00 price target on shares of Biomea Fusion in a report on Friday, January 13th.

Biomea Fusion Stock Down 3.6 %

NASDAQ:BMEA opened at $8.84 on Wednesday. The firm has a market capitalization of $259.86 million, a PE ratio of -3.62 and a beta of -1.85. The firm has a 50-day moving average price of $7.62 and a 200 day moving average price of $9.71. Biomea Fusion has a 12-month low of $2.84 and a 12-month high of $14.20.

Biomea Fusion (NASDAQ:BMEAGet Rating) last posted its quarterly earnings data on Monday, November 7th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.13). On average, research analysts expect that Biomea Fusion will post -2.74 EPS for the current year.

Insider Transactions at Biomea Fusion

In other Biomea Fusion news, Director Michael J.M. Hitchcock acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The stock was purchased at an average cost of $7.93 per share, for a total transaction of $39,650.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $39,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 45.70% of the stock is currently owned by company insiders.

Institutional Trading of Biomea Fusion

Several hedge funds have recently modified their holdings of BMEA. Laurion Capital Management LP acquired a new stake in shares of Biomea Fusion during the second quarter worth approximately $5,033,000. Citadel Advisors LLC grew its stake in shares of Biomea Fusion by 540.5% during the second quarter. Citadel Advisors LLC now owns 335,191 shares of the company’s stock valued at $4,016,000 after purchasing an additional 282,855 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Biomea Fusion by 1,475.9% during the second quarter. JPMorgan Chase & Co. now owns 273,925 shares of the company’s stock valued at $3,281,000 after purchasing an additional 256,543 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Biomea Fusion during the second quarter valued at approximately $2,913,000. Finally, Bank of Montreal Can bought a new stake in shares of Biomea Fusion during the second quarter valued at approximately $2,130,000. Institutional investors and hedge funds own 50.28% of the company’s stock.

Biomea Fusion Company Profile

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Biomea Fusion, Inc, a 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, an orally bioavailable, potent, and selective covalent inhibitor of menin, a transcriptional regulator in oncogenic signaling in multiple cancers.

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