Investors Purchase High Volume of Call Options on Biomea Fusion (NASDAQ:BMEA)

Biomea Fusion, Inc. (NASDAQ:BMEA) was the recipient of unusually large options trading activity on Monday. Stock investors purchased 3,238 call options on the stock. This is an increase of approximately 270% compared to the typical volume of 875 call options.

Biomea Fusion Trading Up 22.6%

BMEA stock traded up $0.31 during midday trading on Monday, hitting $1.68. 3,594,443 shares of the company’s stock were exchanged, compared to its average volume of 1,170,767. The stock has a market capitalization of $121.69 million, a PE ratio of -5.79 and a beta of -0.28. Biomea Fusion has a 1-year low of $0.87 and a 1-year high of $2.99. The business has a 50-day simple moving average of $1.29 and a two-hundred day simple moving average of $1.38.

Biomea Fusion (NASDAQ:BMEA) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.10. As a group, research analysts expect that Biomea Fusion will post -0.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Biomea Fusion

Several large investors have recently modified their holdings of the company. AQR Capital Management LLC increased its stake in shares of Biomea Fusion by 670.5% during the first quarter. AQR Capital Management LLC now owns 264,028 shares of the company’s stock worth $562,000 after acquiring an additional 229,763 shares during the period. Bridgeway Capital Management LLC boosted its holdings in Biomea Fusion by 99.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 70,300 shares of the company’s stock valued at $127,000 after purchasing an additional 35,000 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Biomea Fusion during the 2nd quarter worth approximately $26,000. Vanguard Group Inc. increased its position in Biomea Fusion by 15.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,170,066 shares of the company’s stock worth $4,384,000 after purchasing an additional 290,376 shares during the period. Finally, Two Sigma Investments LP raised its stake in shares of Biomea Fusion by 61.0% during the 3rd quarter. Two Sigma Investments LP now owns 562,968 shares of the company’s stock worth $1,137,000 after buying an additional 213,321 shares in the last quarter. 96.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BMEA shares. Wall Street Zen downgraded Biomea Fusion from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Citizens Jmp started coverage on shares of Biomea Fusion in a research note on Tuesday, May 5th. They issued a “market outperform” rating and a $9.00 target price for the company. Weiss Ratings downgraded Biomea Fusion from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 1st. Citigroup began coverage on shares of Biomea Fusion in a research report on Tuesday, May 5th. They issued an “outperform” rating on the stock. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $12.00 price target on shares of Biomea Fusion in a research note on Tuesday, April 28th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Biomea Fusion presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.20.

Biomea Fusion Company Profile

Biomea Fusion, Inc (NASDAQ:BMEA) is a clinical‐stage biopharmaceutical company headquartered in Carlsbad, California. The company is dedicated to the discovery and development of small molecule therapies that target epigenetic regulators implicated in cancer. By leveraging a proprietary chemistry and drug discovery platform, Biomea Fusion aims to design precision medicines that modulate gene expression pathways involved in the initiation and progression of hematological malignancies and solid tumors.

The company’s lead clinical asset, BMF-219, is an orally bioavailable inhibitor of the menin–mixed‐lineage leukemia (MLL) protein–protein interaction.