Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Get Free Report) rose 10.2% during trading on Thursday . The stock traded as high as $8.52 and last traded at $8.54. Approximately 645,608 shares traded hands during trading, a decline of 28% from the average daily volume of 900,928 shares. The stock had previously closed at $7.75.
Analyst Ratings Changes
OLMA has been the subject of several recent research reports. Zacks Research upgraded Olema Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 9th. Oppenheimer restated an "outperform" rating and set a $22.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday, September 3rd. JPMorgan Chase & Co. boosted their price objective on Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, Citigroup boosted their price objective on Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Olema Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $24.00.
Check Out Our Latest Stock Report on OLMA
Olema Pharmaceuticals Price Performance
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 firm has a fifty day moving average price of $5.80 and a 200-day moving average price of $4.90.
Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.08). Analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Cyrus Harmon sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $8.33, for a total value of $83,300.00. Following the transaction, the director owned 744,140 shares in the company, valued at approximately $6,198,686.20. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 25,000 shares of company stock valued at $204,841 in the last quarter. 16.36% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Olema Pharmaceuticals
Several institutional investors have recently made changes to their positions in OLMA. Ameritas Investment Partners Inc. lifted its stake in Olema Pharmaceuticals by 55.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company's stock worth $26,000 after purchasing an additional 2,168 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Olema Pharmaceuticals by 21.1% in the second quarter. ProShare Advisors LLC now owns 14,766 shares of the company's stock worth $63,000 after buying an additional 2,569 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Olema Pharmaceuticals by 22.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 14,892 shares of the company's stock worth $56,000 after buying an additional 2,743 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Olema Pharmaceuticals by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 131,994 shares of the company's stock worth $496,000 after buying an additional 3,328 shares in the last quarter. Finally, Alps Advisors Inc. raised its position in shares of Olema Pharmaceuticals by 9.0% in the first quarter. Alps Advisors Inc. now owns 50,484 shares of the company's stock worth $190,000 after buying an additional 4,149 shares in the last quarter. Hedge funds and other institutional investors own 91.78% of the company's stock.
About Olema Pharmaceuticals
(
Get Free Report)
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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