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

Financial News Live · Jan 23, 2023 19:41

Biomea Fusion, Inc. (NASDAQ:BMEA – Get Rating) was the target of a large growth in short interest in 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. Based on an average trading volume of 69,000 shares, the days-to-cover ratio is presently 7.9 days. Currently, 2.2% of the company's stock are sold short.

Insider Activity

In other Biomea Fusion news, Director Michael J.M. Hitchcock bought 5,000 shares of the company's stock in a transaction that occurred on Monday, November 14th. The shares were purchased at an average cost of $7.93 per share, for a total transaction of $39,650.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at $39,650. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 45.70% of the company's stock.

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Institutional Trading of Biomea Fusion

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Biomea Fusion by 2.0% during the 1st quarter. BlackRock Inc. now owns 1,705,442 shares of the company's stock worth $7,606,000 after acquiring an additional 32,634 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Biomea Fusion by 18.5% in the 3rd quarter. Vanguard Group Inc. now owns 803,118 shares of the company's stock valued at $7,854,000 after buying an additional 125,311 shares during the period. Laurion Capital Management LP lifted its holdings in shares of Biomea Fusion by 2.2% in the 3rd quarter. Laurion Capital Management LP now owns 429,400 shares of the company's stock valued at $4,200,000 after buying an additional 9,251 shares during the period. Citadel Advisors LLC lifted its holdings in shares of Biomea Fusion by 540.5% in the 2nd quarter. Citadel Advisors LLC now owns 335,191 shares of the company's stock valued at $4,016,000 after buying an additional 282,855 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Biomea Fusion by 1,475.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 273,925 shares of the company's stock valued at $3,281,000 after buying an additional 256,543 shares during the period. Institutional investors and hedge funds own 50.28% of the company's stock.

Biomea Fusion Price Performance

BMEA traded down $0.65 on Monday, reaching $9.17. 52,729 shares of the stock were exchanged, compared to its average volume of 61,640. The company's 50-day moving average price is $7.58 and its 200 day moving average price is $9.75. Biomea Fusion has a fifty-two week low of $2.84 and a fifty-two week high of $14.20. The firm has a market capitalization of $269.56 million, a PE ratio of -3.69 and a beta of -1.85.

Biomea Fusion (NASDAQ:BMEA – Get Rating) last issued its quarterly earnings results on Monday, November 7th. The company reported ($0.78) EPS for the quarter, missing analysts' consensus estimates of ($0.65) by ($0.13). As a group, equities analysts forecast that Biomea Fusion will post -2.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BMEA has been the topic of several research analyst reports. HC Wainwright restated a "buy" rating and set a $37.00 target price on shares of Biomea Fusion in a research note on Friday, January 13th. EF Hutton Acquisition Co. I dropped their target price on Biomea Fusion from $27.00 to $22.00 and set a "buy" rating on the stock in a research note on Tuesday, November 8th.

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.