Olema Pharmaceuticals (NASDAQ:OLMA) Shares Down 4.4% - Here's Why

Key Points

• Olema Pharmaceuticals shares fell 4.4% to about $10.22 in mid-day trading, with trading volume down 86% from its average.
• Analysts remain broadly positive, with 11 Buy ratings and a consensus “Moderate Buy” rating, despite several price-target reductions; the average target is $42.40.
• The company missed quarterly earnings expectations, reporting a loss of $0.61 per share versus the anticipated $0.55 loss. Institutional investors own 91.78% of the stock, while insiders own 12.56%.

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Get Free Report)'s stock price fell 4.4% during mid-day trading on Friday . The stock traded as low as $10.24 and last traded at $10.22. Approximately 189,997 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,366,982 shares. The stock had previously closed at $10.69.

Analyst Ratings Changes

OLMA has been the subject of several research analyst reports. Citigroup reduced their price objective on shares of Olema Pharmaceuticals to $59.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. JPMorgan Chase & Co. reduced their price target on shares of Olema Pharmaceuticals from $52.00 to $46.00 and set an "overweight" rating for the company in a research note on Thursday, August 13th. HC Wainwright decreased their price objective on shares of Olema Pharmaceuticals from $38.00 to $36.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. Weiss Ratings lowered shares of Olema Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, August 31st. Finally, Wall Street Zen cut Olema Pharmaceuticals from a "sell" rating to a "strong sell" rating in a report on Saturday, July 25th. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Olema Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $42.40.

Olema Pharmaceuticals Trading Down 4.1%

The company has a debt-to-equity ratio of 0.01, a current ratio of 8.86 and a quick ratio of 8.86. The business has a fifty day moving average of $11.29 and a 200-day moving average of $13.50. The stock has a market capitalization of $896.88 million, a price-to-earnings ratio of -4.83 and a beta of 1.98.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last issued 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, equities analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Cyrus Harmon sold 12,500 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director directly owned 715,270 shares in the company, valued at approximately $8,282,826.60. This trade represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 12.56% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Jupiter Topco LLC purchased a new stake in shares of Olema Pharmaceuticals during the second quarter valued at $88,803,000. BlackRock Inc. purchased a new position in Olema Pharmaceuticals in the 2nd quarter worth about $84,001,000. Siren L.L.C. acquired a new stake in Olema Pharmaceuticals during the 4th quarter worth about $82,518,000. Janus Henderson Group PLC lifted its stake in Olema Pharmaceuticals by 87.1% during the fourth quarter. Janus Henderson Group PLC now owns 6,710,194 shares of the company's stock valued at $167,901,000 after buying an additional 3,124,345 shares in the last quarter. Finally, Cormorant Asset Management LP purchased a new stake in Olema Pharmaceuticals during the fourth quarter valued at about $68,750,000. Institutional investors own 91.78% of the company's stock.

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.

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