Olema Pharmaceuticals (NASDAQ:OLMA) Shares Down 3.6%

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s stock price was down 3.6% during trading on Friday . The stock traded as low as $12.00 and last traded at $12.05. Approximately 225,048 shares traded hands during trading, a decline of 74% from the average daily volume of 866,265 shares. The stock had previously closed at $12.50.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OLMA. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Tuesday, June 4th. The Goldman Sachs Group assumed coverage on Olema Pharmaceuticals in a research report on Tuesday, April 2nd. They issued a “buy” rating and a $24.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $22.00.

Olema Pharmaceuticals Stock Performance

The business has a 50-day moving average of $11.03 and a two-hundred day moving average of $11.91.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). Analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.3 EPS for the current year.

Insider Activity

In other news, Director Cyrus Harmon sold 5,000 shares of Olema Pharmaceuticals stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $10.93, for a total value of $54,650.00. Following the completion of the transaction, the director now owns 786,283 shares in the company, valued at $8,594,073.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 60,000 shares of company stock worth $608,450. Insiders own 19.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. First Light Asset Management LLC bought a new position in Olema Pharmaceuticals in the 4th quarter worth approximately $8,854,000. Swiss National Bank bought a new stake in shares of Olema Pharmaceuticals during the 4th quarter valued at $906,000. Perceptive Advisors LLC bought a new stake in shares of Olema Pharmaceuticals during the 4th quarter valued at $7,574,000. Dimensional Fund Advisors LP raised its position in shares of Olema Pharmaceuticals by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,715,420 shares of the company’s stock valued at $24,069,000 after acquiring an additional 21,420 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Olema Pharmaceuticals by 879.6% during the 4th quarter. Victory Capital Management Inc. now owns 621,527 shares of the company’s stock valued at $8,720,000 after acquiring an additional 558,077 shares during the last quarter. Institutional investors own 91.78% of the company’s stock.

About Olema Pharmaceuticals

Olema Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for women's cancers. Its lead product candidate is OP-1250, an estrogen receptor (ER) antagonist and a selective ER degrader, which is in Phase 3 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer; and OP-1250 combine with CDK4/6 inhibitors palbociclib, ribociclib, and alpelisib in Phase 1/2 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive human epidermal growth factor receptor 2-negative breast cancer, as well as develops OPERA-01 for the of ER+/HER2- advanced or metastatic breast cancer.