Olema Pharmaceuticals (NASDAQ:OLMA) Stock Price Down 4.4% – Here’s Why

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s stock price dropped 4.4% during trading on Friday . The stock traded as low as $10.24 and last traded at $10.22. Approximately 189,997 shares were traded during mid-day trading, a decline of 86% from the average session volume of 1,366,982 shares. The stock had previously closed at $10.69.

Analyst Ratings Changes

Several research firms have weighed in on OLMA. Wall Street Zen cut shares of Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 25th. JPMorgan Chase & Co. decreased their target price on Olema Pharmaceuticals from $52.00 to $46.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Weiss Ratings downgraded Olema Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 31st. Citigroup dropped their price target on Olema Pharmaceuticals to $59.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Finally, HC Wainwright reduced their price objective on Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Eleven 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.40.

Olema Pharmaceuticals Stock Performance

The firm’s fifty day moving average price is $11.29 and its 200 day moving average price is $13.50. The company has a current ratio of 8.86, a quick ratio of 8.86 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $896.88 million, a PE ratio of -4.83 and a beta of 1.98.

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

Insider Activity at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 12,500 shares of the business’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $11.58, for a total transaction of $144,750.00. Following the completion of the transaction, the director owned 715,270 shares of the company’s stock, valued at approximately $8,282,826.60. The trade was a 1.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.56% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its position in shares of Olema Pharmaceuticals by 9,476.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock valued at $31,000 after buying an additional 1,232 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Olema Pharmaceuticals in the fourth quarter valued at $88,000. Russell Investments Group Ltd. bought a new stake in Olema Pharmaceuticals in the third quarter valued at $53,000. Quantbot Technologies LP acquired a new position in Olema Pharmaceuticals during the second quarter worth $77,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Olema Pharmaceuticals during the fourth quarter worth $222,000. 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.