Olema Pharmaceuticals (NASDAQ:OLMA) Reaches New 52-Week Low – Should You Sell?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) shares reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $6.63 and last traded at $6.6950, with a volume of 632,943 shares changing hands. The stock had previously closed at $7.02.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OLMA. Weiss Ratings upgraded Olema Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 21st. JPMorgan Chase & Co. decreased their price objective on Olema Pharmaceuticals from $52.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Wall Street Zen cut Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. HC Wainwright dropped their target price on Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Finally, Citigroup reduced their price target on shares of Olema Pharmaceuticals to $59.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Olema Pharmaceuticals Stock Performance

The company has a current ratio of 8.86, a quick ratio of 8.86 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $593.25 million, a PE ratio of -3.19 and a beta of 2.00. The firm’s fifty day moving average price is $9.90 and its 200 day moving average price is $11.88.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.06). On average, research analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.43 earnings per share for the current year.

Insider Activity at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 12,500 shares of the stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $11.58, for a total transaction of $144,750.00. Following the transaction, the director owned 715,270 shares in the company, valued at $8,282,826.60. This represents a 1.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.56% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of large investors have recently bought and sold shares of OLMA. Jupiter Topco LLC acquired a new position in Olema Pharmaceuticals during the second quarter worth $88,803,000. BlackRock Inc. bought a new stake in shares of Olema Pharmaceuticals during the 2nd quarter worth about $84,001,000. Cormorant Asset Management LP acquired a new position in shares of Olema Pharmaceuticals during the 4th quarter valued at about $68,750,000. Siren L.L.C. increased its holdings in shares of Olema Pharmaceuticals by 44.1% during the 1st quarter. Siren L.L.C. now owns 4,756,949 shares of the company’s stock valued at $70,926,000 after acquiring an additional 1,456,249 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Olema Pharmaceuticals by 89.0% during the 1st quarter. Jennison Associates LLC now owns 1,822,123 shares of the company’s stock valued at $27,168,000 after acquiring an additional 858,126 shares during the last quarter. 91.78% of the stock is currently owned by institutional investors.

About Olema Pharmaceuticals

Olema Pharmaceuticals, Inc (NASDAQ: OLMA) is a clinical-stage biopharmaceutical company focused on developing therapies for women’s cancers, with an emphasis on hormone receptor-positive breast cancer. The company’s research is centered on oral endocrine medicines designed to target estrogen receptor signaling, an important driver of many breast tumors.

Olema’s lead product candidate is palazestrant, an investigational oral selective estrogen receptor degrader (SERD) being evaluated for the treatment of estrogen receptor-positive, HER2-negative advanced or metastatic breast cancer.