Olema Pharmaceuticals (NASDAQ:OLMA) Issues Quarterly Earnings Results

Olema Pharmaceuticals (NASDAQ:OLMA) announced its quarterly earnings data on Monday. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.06), FiscalAI reports.

Olema Pharmaceuticals Stock Performance

Shares of Olema Pharmaceuticals stock opened at $11.94 on Tuesday. Olema Pharmaceuticals has a 12 month low of $4.47 and a 12 month high of $36.26. The firm has a market capitalization of $1.04 billion, a P/E ratio of -5.91 and a beta of 2.03. 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 $11.25 and a two-hundred day simple moving average of $15.77.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Guggenheim reduced their price target on Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Wall Street Zen downgraded Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 25th. HC Wainwright reissued a “buy” rating and set a $36.00 price objective (down from $38.00) on shares of Olema Pharmaceuticals in a research note on Tuesday. Finally, Weiss Ratings lowered shares of Olema Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 3rd. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.90.

Insider Buying and Selling at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 12,500 shares of the company’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $11.58, for a total value of $144,750.00. Following the sale, the director owned 715,270 shares in the company, valued at approximately $8,282,826.60. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.56% of the stock is owned by corporate insiders.

Institutional Trading of Olema Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in OLMA. AQR Capital Management LLC bought a new stake in Olema Pharmaceuticals in the first quarter worth $172,000. Goldman Sachs Group Inc. increased its holdings in shares of Olema Pharmaceuticals by 93.6% during the first quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock valued at $2,787,000 after acquiring an additional 358,412 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Olema Pharmaceuticals by 216.8% during the first quarter. Jane Street Group LLC now owns 138,552 shares of the company’s stock valued at $521,000 after acquiring an additional 94,815 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Olema Pharmaceuticals by 22.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock worth $5,650,000 after purchasing an additional 242,997 shares during the last quarter. Finally, Creative Planning purchased a new position in shares of Olema Pharmaceuticals in the 2nd quarter worth about $83,000. Hedge funds and other 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.