Olema Pharmaceuticals (NASDAQ:OLMA) Reaches New 1-Year Low – Time to Sell?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) shares reached a new 52-week low during trading on Saturday. The stock traded as low as $6.24 and last traded at $6.41, with a volume of 1,984,562 shares traded. The stock had previously closed at $7.02.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on OLMA shares. Stifel Nicolaus dropped their price objective on Olema Pharmaceuticals from $48.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, September 14th. Weiss Ratings upgraded shares of Olema Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 21st. HC Wainwright decreased their price target on shares of Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. JPMorgan Chase & Co. reduced their price objective 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. Finally, Wall Street Zen lowered shares of Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $40.60.

Olema Pharmaceuticals Trading Down 8.7%

The stock has a 50-day simple moving average of $9.22 and a 200 day simple moving average of $11.48. The company has a current ratio of 8.86, a quick ratio of 8.86 and a debt-to-equity ratio of 0.01. The company has a market cap of $560.88 million, a price-to-earnings ratio of -3.02 and a beta of 2.00.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data 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). As a group, equities research analysts predict that Olema Pharmaceuticals, Inc. will post -2.43 EPS for the current fiscal year.

Institutional Trading of Olema Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new stake in shares of Olema Pharmaceuticals during the 2nd quarter worth about $77,000. E Fund Management Co. Ltd. acquired a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth approximately $133,000. Canada Pension Plan Investment Board purchased a new position in shares of Olema Pharmaceuticals during the 2nd quarter valued at approximately $144,000. Arizona State Retirement System increased its stake in shares of Olema Pharmaceuticals by 39.2% during the second quarter. Arizona State Retirement System now owns 14,430 shares of the company’s stock worth $181,000 after purchasing an additional 4,062 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Olema Pharmaceuticals in the 2nd quarter valued at about $220,000. 91.78% of the stock is currently owned by institutional investors and hedge funds.

About Olema Pharmaceuticals

Olema Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for women’s cancers, with an emphasis on hormone receptor-positive breast cancer. The company’s research is centered on treatments designed to address cancer biology and resistance mechanisms that can limit the effectiveness of existing endocrine therapies.

Olema’s lead product candidate is palazestrant, an oral selective estrogen receptor degrader (SERD) being developed for patients with estrogen receptor-positive, human epidermal growth factor receptor 2-negative advanced or metastatic breast cancer.