Olema Pharmaceuticals (NASDAQ:OLMA) Shares Down 6.2%

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) traded down 6.2% during mid-day trading on Thursday . The company traded as low as $10.05 and last traded at $10.05. 159,950 shares were traded during mid-day trading, a decline of 79% from the average session volume of 779,765 shares. The stock had previously closed at $10.71.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Capital One Financial reaffirmed an “overweight” rating on shares of Olema Pharmaceuticals in a research report on Thursday, February 22nd. The Goldman Sachs Group started coverage on Olema Pharmaceuticals in a research report on Tuesday, April 2nd. They set a “buy” rating and a $24.00 target price on the stock. Finally, Citigroup started coverage on Olema Pharmaceuticals in a research report on Tuesday, January 30th. They set a “buy” rating and a $20.00 target price on the stock. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $21.43.

Olema Pharmaceuticals Stock Performance

The business has a 50 day moving average of $12.40 and a 200-day moving average of $12.94.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its earnings results on Monday, March 11th. The company reported ($0.49) earnings per share for the quarter, meeting the consensus estimate of ($0.49). As a group, analysts expect that Olema Pharmaceuticals, Inc. will post -2.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Cyrus Harmon sold 25,000 shares of Olema Pharmaceuticals stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $12.41, for a total transaction of $310,250.00. Following the completion of the transaction, the director now directly owns 846,283 shares of the company’s stock, valued at $10,502,372.03. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 70,000 shares of company stock valued at $835,400. 23.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of OLMA. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Olema Pharmaceuticals by 9.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,951 shares of the company’s stock worth $224,000 after acquiring an additional 1,367 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Olema Pharmaceuticals by 682.4% in the second quarter. Royal Bank of Canada now owns 2,801 shares of the company’s stock worth $25,000 after acquiring an additional 2,443 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Olema Pharmaceuticals in the third quarter worth $35,000. SG Americas Securities LLC raised its holdings in shares of Olema Pharmaceuticals by 38.1% in the fourth quarter. SG Americas Securities LLC now owns 15,874 shares of the company’s stock worth $223,000 after acquiring an additional 4,379 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Olema Pharmaceuticals by 14.5% in the third quarter. Rhumbline Advisers now owns 37,840 shares of the company’s stock worth $467,000 after acquiring an additional 4,787 shares during the last quarter. 91.78% of the stock is owned by institutional investors and hedge funds.

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.