Olema Pharmaceuticals (NASDAQ:OLMA) Trading Down 5%

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s stock price traded down 5% during mid-day trading on Tuesday . The company traded as low as $10.56 and last traded at $10.58. 109,169 shares traded hands during trading, a decline of 88% from the average session volume of 886,137 shares. The stock had previously closed at $11.14.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research note on Tuesday, June 4th. The Goldman Sachs Group started coverage on Olema Pharmaceuticals in a research note on Tuesday, April 2nd. They issued a “buy” rating and a $24.00 price target for the company. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $22.00.

Olema Pharmaceuticals Stock Down 6.9 %

The company has a fifty day simple moving average of $10.86 and a 200-day simple moving average of $12.01. The firm has a market cap of $579.99 million, a P/E ratio of -5.17 and a beta of 2.06.

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

Insider Buying and Selling

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 5,000 shares of Olema Pharmaceuticals stock in a transaction on Monday, May 6th. The shares were sold at an average price of $10.92, for a total transaction of $54,600.00. Following the completion of the transaction, the director now directly owns 806,283 shares of the company’s stock, valued at $8,804,610.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 40,000 shares of company stock worth $393,050. Insiders own 19.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System boosted its stake in shares of Olema Pharmaceuticals by 3.4% during the first quarter. California State Teachers Retirement System now owns 34,695 shares of the company’s stock valued at $393,000 after purchasing an additional 1,132 shares during the period. Janus Henderson Group PLC raised its holdings in Olema Pharmaceuticals by 74.5% in the first quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock worth $13,817,000 after purchasing an additional 521,562 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Olema Pharmaceuticals by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,251 shares of the company’s stock valued at $298,000 after acquiring an additional 1,486 shares in the last quarter. EntryPoint Capital LLC increased its holdings in shares of Olema Pharmaceuticals by 949.9% during the first quarter. EntryPoint Capital LLC now owns 14,530 shares of the company’s stock valued at $164,000 after acquiring an additional 13,146 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in Olema Pharmaceuticals in the first quarter valued at approximately $161,000. 91.78% of the stock is owned by hedge funds and other 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.