Olema Pharmaceuticals (NASDAQ:OLMA) Trading Down 5.2% Following Analyst Downgrade

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s stock price dropped 5.2% during trading on Tuesday after Guggenheim lowered their price target on the stock from $40.00 to $38.00. Guggenheim currently has a buy rating on the stock. Olema Pharmaceuticals traded as low as $15.63 and last traded at $15.7360. Approximately 362,758 shares changed hands during trading, a decline of 77% from the average daily volume of 1,607,136 shares. The stock had previously closed at $16.60.

Several other equities analysts have also recently issued reports on the company. HC Wainwright lowered their price target on Olema Pharmaceuticals from $45.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, March 9th. Stifel Nicolaus initiated coverage on Olema Pharmaceuticals in a report on Wednesday, February 11th. They issued a “buy” rating and a $48.00 price objective for the company. TD Cowen reaffirmed a “buy” rating on shares of Olema Pharmaceuticals in a research note on Monday, March 9th. Citigroup boosted their price target on shares of Olema Pharmaceuticals from $21.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, JPMorgan Chase & Co. upped their price target on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, November 18th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Insider Buying and Selling at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 10,000 shares of Olema Pharmaceuticals stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $26.88, for a total value of $268,800.00. Following the transaction, the director directly owned 727,770 shares in the company, valued at $19,562,457.60. The trade was a 1.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Shane William Charles Kovacs sold 100,000 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $28.73, for a total value of $2,873,000.00. Following the sale, the insider directly owned 139,727 shares in the company, valued at $4,014,356.71. This trade represents a 41.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 805,501 shares of company stock worth $23,003,832. 16.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OLMA. EverSource Wealth Advisors LLC lifted its position in shares of Olema Pharmaceuticals by 9,476.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock valued at $31,000 after acquiring an additional 1,232 shares in the last quarter. Torren Management LLC purchased a new position in Olema Pharmaceuticals during the 4th quarter worth approximately $44,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Olema Pharmaceuticals during the 4th quarter valued at $88,000. Nisa Investment Advisors LLC lifted its holdings in shares of Olema Pharmaceuticals by 14.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,764 shares of the company’s stock valued at $94,000 after purchasing an additional 477 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Olema Pharmaceuticals by 44.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the company’s stock valued at $96,000 after purchasing an additional 1,169 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Olema Pharmaceuticals Trading Down 5.2%

The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -8.41 and a beta of 1.93. The company has a 50-day moving average price of $24.01 and a 200 day moving average price of $18.66.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Monday, March 16th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.01. As a group, research analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current fiscal year.

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.