Biomea Fusion Target of Unusually Large Options Trading (NASDAQ:BMEA)

Biomea Fusion, Inc. (NASDAQ:BMEA) was the recipient of unusually large options trading activity on Friday. Investors purchased 9,805 call options on the company. This is an increase of 1,010% compared to the typical volume of 883 call options.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BMEA. HC Wainwright upped their target price on shares of Biomea Fusion from $15.00 to $40.00 and gave the stock a “buy” rating in a report on Friday. Capital One Financial assumed coverage on Biomea Fusion in a research note on Thursday, August 29th. They issued an “overweight” rating and a $25.00 price objective for the company. Citigroup decreased their target price on Biomea Fusion from $45.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. Truist Financial upgraded Biomea Fusion from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Friday. Finally, Oppenheimer reduced their price objective on shares of Biomea Fusion from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Biomea Fusion Price Performance

Shares of NASDAQ BMEA traded up $0.33 during mid-day trading on Friday, hitting $9.90. 4,041,336 shares of the company’s stock traded hands, compared to its average volume of 1,052,548. Biomea Fusion has a 1 year low of $3.61 and a 1 year high of $22.74. The company’s 50-day moving average is $6.80 and its two-hundred day moving average is $9.04. The company has a market capitalization of $358.48 million, a P/E ratio of -2.82 and a beta of -0.47.

Biomea Fusion (NASDAQ:BMEA) last announced its earnings results on Wednesday, July 31st. The company reported ($1.03) EPS for the quarter, hitting analysts’ consensus estimates of ($1.03). Equities analysts anticipate that Biomea Fusion will post -4.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BMEA. Price T Rowe Associates Inc. MD lifted its holdings in shares of Biomea Fusion by 0.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 177,602 shares of the company’s stock worth $2,656,000 after acquiring an additional 1,028 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Biomea Fusion by 12.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,513 shares of the company’s stock valued at $232,000 after buying an additional 1,712 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Biomea Fusion by 66.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,862 shares of the company’s stock valued at $103,000 after buying an additional 2,731 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Biomea Fusion in the fourth quarter worth approximately $79,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of Biomea Fusion in the fourth quarter worth approximately $102,000. Institutional investors own 96.72% of the company’s stock.

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.