Olema Pharmaceuticals (NASDAQ:OLMA) Trading Down 6.3% - Time to Sell?

Key Points

• Olema Pharmaceuticals' stock fell by 6.3% during mid-day trading, closing at $10.34, with trading volume down 77% compared to the average session.
• Analysts have mixed ratings for the stock, with a consensus target price of $24.00, including several "buy" ratings from major firms like JPMorgan and Citigroup.
• The company reported a loss of ($0.51) earnings per share for its latest quarter, missing estimates, with future earnings projected at -2.33 EPS for the fiscal year.

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Get Free Report)'s stock price fell 6.3% during mid-day trading on Thursday . The company traded as low as $10.35 and last traded at $10.34. 207,520 shares were traded during trading, a decline of 77% from the average session volume of 920,841 shares. The stock had previously closed at $11.04.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OLMA. JPMorgan Chase & Co. raised their price objective on Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Zacks Research raised Olema Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 9th. Citigroup raised their target price on Olema Pharmaceuticals from $20.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Finally, Oppenheimer restated an "outperform" rating and set a $22.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday, September 3rd. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.00.

Olema Pharmaceuticals Stock Down 7.2%

The firm has a 50 day moving average price of $6.54 and a 200-day moving average price of $5.15. The company has a current ratio of 11.09, a quick ratio of 11.09 and a debt-to-equity ratio of 0.01. The firm has a market cap of $702.77 million, a PE ratio of -5.17 and a beta of 2.07.

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

Insider Activity

In other news, Director Cyrus Harmon sold 10,000 shares of Olema Pharmaceuticals stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $8.33, for a total value of $83,300.00. Following the completion of the transaction, the director owned 744,140 shares in the company, valued at approximately $6,198,686.20. This trade represents a 1.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 25,000 shares of company stock valued at $204,841. Company insiders own 16.36% of the company's stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in OLMA. ProShare Advisors LLC lifted its stake in Olema Pharmaceuticals by 30.2% during the fourth quarter. ProShare Advisors LLC now owns 14,226 shares of the company's stock worth $83,000 after purchasing an additional 3,298 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Olema Pharmaceuticals by 205.8% during the fourth quarter. Squarepoint Ops LLC now owns 48,829 shares of the company's stock worth $285,000 after purchasing an additional 32,860 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Olema Pharmaceuticals by 23.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,979 shares of the company's stock worth $548,000 after purchasing an additional 18,005 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Olema Pharmaceuticals by 14.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 242,486 shares of the company's stock worth $912,000 after purchasing an additional 30,240 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Olema Pharmaceuticals by 2.6% during the first quarter. Bank of New York Mellon Corp now owns 131,994 shares of the company's stock worth $496,000 after purchasing an additional 3,328 shares during the last quarter. Hedge funds and other institutional investors own 91.78% of the company's stock.

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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