Olema Pharmaceuticals (NASDAQ:OLMA) Stock Price Down 4.8% – Here’s What Happened

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s stock price traded down 4.8% during mid-day trading on Friday . The company traded as low as $13.89 and last traded at $13.3890. 103,386 shares changed hands during trading, a decline of 93% from the average session volume of 1,408,777 shares. The stock had previously closed at $14.06.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Olema Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Monday, April 27th. Oppenheimer restated an “outperform” rating on shares of Olema Pharmaceuticals in a report on Monday, March 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Tuesday, April 21st. Citigroup upped their target price on Olema Pharmaceuticals from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Finally, The Goldman Sachs Group reduced their target price on Olema Pharmaceuticals from $38.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.10.

Olema Pharmaceuticals Price Performance

The company has a current ratio of 10.88, a quick ratio of 10.88 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $14.95 and a two-hundred day simple moving average of $20.66. The stock has a market cap of $1.17 billion, a PE ratio of -6.65 and a beta of 2.05.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.52) EPS for the quarter, hitting analysts’ consensus estimates of ($0.52). Research analysts forecast that Olema Pharmaceuticals, Inc. will post -2.16 earnings per share for the current year.

Insider Activity at Olema Pharmaceuticals

In other news, insider Shawnte Mitchell sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total value of $606,250.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Olema Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Olema Pharmaceuticals in the 4th quarter worth approximately $1,735,000. Candriam S.C.A. lifted its position in Olema Pharmaceuticals by 46.9% in the 3rd quarter. Candriam S.C.A. now owns 1,249,727 shares of the company’s stock valued at $12,235,000 after acquiring an additional 399,273 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in Olema Pharmaceuticals by 83.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 447,046 shares of the company’s stock valued at $11,176,000 after acquiring an additional 202,970 shares in the last quarter. Kingdon Capital Management L.L.C. bought a new position in Olema Pharmaceuticals in the 3rd quarter valued at approximately $8,361,000. Finally, Jennison Associates LLC bought a new position in Olema Pharmaceuticals in the 4th quarter valued at approximately $24,100,000. 91.78% of the stock is owned by institutional investors.

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.