Olema Pharmaceuticals (NASDAQ:OLMA) Shares Down 7.2% - Should You Sell?

Key Points

• Olema Pharmaceuticals (NASDAQ:OLMA) shares decreased by 7.2% to $7.72 amid reduced trading volume, highlighting investor caution.
• Analysts have mixed opinions on the stock, with Zacks Research issuing a "strong sell" rating while others like Oppenheimer maintain a "buy" rating with a $22 price target.
• The company reported a quarterly EPS of ($0.51), missing estimates, and is forecasted to post -2.33 EPS for the current year, indicating potential financial struggles.

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Get Free Report) shares traded down 7.2% during mid-day trading on Monday . The company traded as low as $7.77 and last traded at $7.72. 514,404 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 888,037 shares. The stock had previously closed at $8.31.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OLMA. Zacks Research raised Olema Pharmaceuticals to a "strong sell" rating in a research report on Monday, August 11th. Oppenheimer reaffirmed an "outperform" rating and issued a $22.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, September 3rd. The Goldman Sachs Group lowered their price target on Olema Pharmaceuticals from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Citigroup raised their price target on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Olema Pharmaceuticals Stock Performance

The stock has a 50 day moving average of $5.14 and a 200 day moving average of $4.66. The company has a quick ratio of 11.09, a current ratio of 11.09 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $527.15 million, a price-to-earnings ratio of -3.89 and a beta of 1.92.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.08). As a group, analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Institutional Trading of Olema Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its holdings in shares of Olema Pharmaceuticals by 110.6% during the 4th quarter. Bank of America Corp DE now owns 865,339 shares of the company's stock valued at $5,045,000 after acquiring an additional 454,400 shares in the last quarter. Wellington Management Group LLP lifted its stake in Olema Pharmaceuticals by 52.1% during the fourth quarter. Wellington Management Group LLP now owns 1,525,484 shares of the company's stock valued at $8,839,000 after purchasing an additional 522,799 shares during the last quarter. Millennium Management LLC lifted its stake in Olema Pharmaceuticals by 1,154.4% during the fourth quarter. Millennium Management LLC now owns 979,219 shares of the company's stock valued at $5,709,000 after purchasing an additional 901,159 shares during the last quarter. Paradigm Biocapital Advisors LP lifted its position in shares of Olema Pharmaceuticals by 32.7% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,304,970 shares of the company's stock valued at $42,588,000 after acquiring an additional 1,801,370 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Olema Pharmaceuticals during the 1st quarter worth $1,295,000. 91.78% of the stock is owned by hedge funds and other 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.

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