Olema Pharmaceuticals (NASDAQ:OLMA) Trading 3.5% Higher – What’s Next?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s stock price traded up 3.5% during trading on Thursday . The stock traded as high as $10.63 and last traded at $10.7260. 104,214 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,368,055 shares. The stock had previously closed at $10.36.

Analysts Set New Price Targets

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

Olema Pharmaceuticals Trading Down 4.4%

The firm’s 50 day moving average price is $11.24 and its 200-day moving average price is $13.48. The stock has a market cap of $894.23 million, a P/E ratio of -4.82 and a beta of 1.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.86 and a quick ratio of 8.86.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.06). As a group, equities research analysts forecast that Olema Pharmaceuticals, Inc. will post -2.43 earnings per share for the current year.

Insider Buying and Selling

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 12,500 shares of the stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $11.58, for a total transaction of $144,750.00. Following 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bain Capital Life Sciences Investors LLC boosted its position in shares of Olema Pharmaceuticals by 24.3% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,508,641 shares of the company’s stock valued at $212,716,000 after buying an additional 1,664,687 shares during the last quarter. Paradigm Biocapital Advisors LP raised its position in Olema Pharmaceuticals by 11.0% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,544,172 shares of the company’s stock worth $188,604,000 after buying an additional 750,000 shares during the last quarter. Janus Henderson Group PLC raised its position in Olema Pharmaceuticals by 5.9% in the 1st quarter. Janus Henderson Group PLC now owns 7,108,488 shares of the company’s stock worth $106,013,000 after buying an additional 398,294 shares during the last quarter. Jupiter Topco LLC bought a new position in Olema Pharmaceuticals during the 2nd quarter valued at about $88,803,000. Finally, BlackRock Inc. bought a new position in Olema Pharmaceuticals during the 2nd quarter valued at about $84,001,000. 91.78% of the stock is owned by 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.