Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA – Get Free Report) traded down 10.4% during trading on Tuesday . The company traded as low as $13.28 and last traded at $13.3120. 1,088,487 shares were traded during mid-day trading, a decline of 24% from the average session volume of 1,423,672 shares. The stock had previously closed at $14.86.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on OLMA shares. Stifel Nicolaus started coverage on Olema Pharmaceuticals in a research report on Wednesday, February 11th. They issued a “buy” rating and a $48.00 target price for the company. Guggenheim reduced their price target on Olema Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Tuesday, April 21st. Citigroup boosted their target price on shares of Olema Pharmaceuticals from $60.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, March 17th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, March 9th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Olema Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.40.
Read Our Latest Stock Analysis on OLMA
Olema Pharmaceuticals Stock Performance
Olema Pharmaceuticals (NASDAQ:OLMA – Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.52). As a group, sell-side analysts forecast that Olema Pharmaceuticals, Inc. will post -2.17 EPS for the current fiscal year.
Insider Transactions at Olema Pharmaceuticals
In other Olema Pharmaceuticals news, insider Shawnte Mitchell sold 25,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total transaction of $606,250.00. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 16.36% of the company’s stock.
Institutional Investors Weigh In On Olema Pharmaceuticals
Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new position in Olema Pharmaceuticals during the 4th quarter valued at about $1,735,000. Candriam S.C.A. boosted its holdings in shares of Olema Pharmaceuticals by 46.9% during the 3rd quarter. Candriam S.C.A. now owns 1,249,727 shares of the company’s stock valued at $12,235,000 after acquiring an additional 399,273 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Olema Pharmaceuticals by 83.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 447,046 shares of the company’s stock worth $11,176,000 after acquiring an additional 202,970 shares during the period. Kingdon Capital Management L.L.C. bought a new stake in shares of Olema Pharmaceuticals in the third quarter worth approximately $8,361,000. Finally, Jennison Associates LLC purchased a new position in shares of Olema Pharmaceuticals during the fourth quarter valued at approximately $24,100,000. 91.78% of the stock is owned by hedge funds and other 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.
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