Olema Pharmaceuticals (NASDAQ:OLMA) Trading Down 3.8%

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) traded down 3.8% on Wednesday . The stock traded as low as $11.81 and last traded at $11.83. 29,088 shares were traded during mid-day trading, a decline of 96% from the average session volume of 793,763 shares. The stock had previously closed at $12.30.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. Oppenheimer reissued an “outperform” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. reduced their target price on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $27.00.

Olema Pharmaceuticals Price Performance

The business has a 50-day moving average of $12.78 and a 200-day moving average of $11.76. The company has a market capitalization of $672.89 million, a P/E ratio of -6.03 and a beta of 2.03.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its earnings results on Tuesday, August 6th. The company reported ($0.54) EPS for the quarter, hitting analysts’ consensus estimates of ($0.54). Sell-side analysts predict that Olema Pharmaceuticals, Inc. will post -1.51 EPS for the current fiscal year.

Insider Buying and Selling at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 4,066 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.58, for a total value of $63,348.28. Following the completion of the transaction, the director now owns 752,217 shares of the company’s stock, valued at $11,719,540.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Olema Pharmaceuticals news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $14.91, for a total value of $35,784,000.00. Following the completion of the sale, the insider now directly owns 783,118 shares in the company, valued at $11,676,289.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Cyrus Harmon sold 4,066 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $15.58, for a total value of $63,348.28. Following the transaction, the director now directly owns 752,217 shares in the company, valued at $11,719,540.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,409,066 shares of company stock valued at $35,908,648. Company insiders own 19.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in Olema Pharmaceuticals by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,715,420 shares of the company’s stock worth $24,069,000 after acquiring an additional 21,420 shares in the last quarter. First Light Asset Management LLC acquired a new stake in shares of Olema Pharmaceuticals during the fourth quarter worth $8,854,000. Perceptive Advisors LLC purchased a new stake in shares of Olema Pharmaceuticals during the fourth quarter valued at $7,574,000. China Universal Asset Management Co. Ltd. increased its position in shares of Olema Pharmaceuticals by 66.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,562 shares of the company’s stock valued at $120,000 after acquiring an additional 4,221 shares during the period. Finally, Swiss National Bank raised its stake in Olema Pharmaceuticals by 8.8% in the 1st quarter. Swiss National Bank now owns 70,300 shares of the company’s stock worth $796,000 after acquiring an additional 5,700 shares during the last quarter. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

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.