Olema Pharmaceuticals (NASDAQ:OLMA) Stock Price Down 5.7% – Should You Sell?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) was down 5.7% during trading on Monday . The company traded as low as $9.81 and last traded at $9.85. Approximately 113,528 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 730,516 shares. The stock had previously closed at $10.45.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research note on Wednesday, November 13th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $27.00.

Olema Pharmaceuticals Trading Up 2.1 %

The firm has a market cap of $552.35 million, a P/E ratio of -4.40 and a beta of 1.92. The business’s fifty day moving average price is $10.97 and its two-hundred day moving average price is $11.94.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several institutional investors have recently bought and sold shares of OLMA. Conway Capital Management Inc. acquired a new position in shares of Olema Pharmaceuticals during the 3rd quarter valued at about $119,000. China Universal Asset Management Co. Ltd. boosted its position in Olema Pharmaceuticals by 67.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock worth $132,000 after purchasing an additional 4,442 shares during the period. Portland Investment Counsel Inc. acquired a new position in Olema Pharmaceuticals during the third quarter valued at approximately $143,000. Cubist Systematic Strategies LLC bought a new position in shares of Olema Pharmaceuticals in the second quarter valued at approximately $145,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Olema Pharmaceuticals in the third quarter worth $156,000. 91.78% of the stock is currently owned by institutional investors.

Olema Pharmaceuticals Company Profile

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.