Olema Pharmaceuticals (NASDAQ:OLMA – Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.52) earnings per share for the quarter, hitting the consensus estimate of ($0.52), FiscalAI reports.
Olema Pharmaceuticals Stock Down 10.1%
Shares of OLMA traded down $1.49 during mid-day trading on Tuesday, reaching $13.37. The company’s stock had a trading volume of 1,030,888 shares, compared to its average volume of 1,423,046. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.95 and a quick ratio of 9.95. Olema Pharmaceuticals has a 12-month low of $3.89 and a 12-month high of $36.26. The stock has a market cap of $1.17 billion, a PE ratio of -7.17 and a beta of 2.05. The company’s 50 day moving average is $16.20 and its 200 day moving average is $20.37.
Analyst Ratings Changes
A number of analysts have recently issued reports on OLMA shares. Jefferies Financial Group assumed coverage on shares of Olema Pharmaceuticals in a report on Thursday, March 19th. They set a “buy” rating and a $40.00 price target on the stock. Stifel Nicolaus initiated coverage on shares of Olema Pharmaceuticals in a report on Wednesday, February 11th. They set a “buy” rating and a $48.00 price objective for the company. Guggenheim dropped their target price on shares of Olema Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, March 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Tuesday, April 21st. Finally, Wolfe Research assumed coverage on Olema Pharmaceuticals in a research report on Friday, March 27th. They issued a “peer perform” rating on the stock. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.40.
Insider Activity at Olema Pharmaceuticals
In other news, insider Shawnte Mitchell sold 25,000 shares of Olema Pharmaceuticals stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $24.25, for a total value of $606,250.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.36% of the stock is owned by insiders.
Institutional Trading of Olema Pharmaceuticals
A number of hedge funds have recently added to or reduced their stakes in OLMA. AQR Capital Management LLC purchased a new stake in shares of Olema Pharmaceuticals during the first quarter worth about $172,000. Goldman Sachs Group Inc. increased its stake in shares of Olema Pharmaceuticals by 93.6% in the first quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock worth $2,787,000 after acquiring an additional 358,412 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Olema Pharmaceuticals by 216.8% in the 1st quarter. Jane Street Group LLC now owns 138,552 shares of the company’s stock valued at $521,000 after buying an additional 94,815 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Olema Pharmaceuticals by 22.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock worth $5,650,000 after purchasing an additional 242,997 shares during the last quarter. Finally, Creative Planning bought a new position in shares of Olema Pharmaceuticals in the second quarter valued at approximately $83,000. 91.78% of the stock is owned by institutional investors and hedge funds.
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.
Featured Stories
- Five stocks we like better than Olema Pharmaceuticals
- Axon Surged After Earnings and Is Still Down Over 50% From Highs
- The Event That Could Redefine Apple’s Summer Rally
- Hims & Hers Stock Plunges After Q1 Miss: Is the GLP-1 Pivot Enough to Fuel a Recovery?
- Rocket Lab Just Hit a New All-Time High—Time to Buy or Let It Breathe?
Receive News & Ratings for Olema Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olema Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.
