Short Interest in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Decreases By 12.5%

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) was the recipient of a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 9,100,561 shares, a drop of 12.5% from the December 31st total of 10,399,087 shares. Based on an average trading volume of 1,450,644 shares, the short-interest ratio is currently 6.3 days. Approximately 15.8% of the shares of the stock are sold short. Approximately 15.8% of the shares of the stock are sold short. Based on an average trading volume of 1,450,644 shares, the short-interest ratio is currently 6.3 days.

Olema Pharmaceuticals Trading Down 0.3%

Shares of OLMA stock opened at $25.65 on Tuesday. Olema Pharmaceuticals has a twelve month low of $2.86 and a twelve month high of $36.26. The stock’s fifty day simple moving average is $27.59 and its 200 day simple moving average is $15.04. 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 capitalization of $1.76 billion, a P/E ratio of -13.72 and a beta of 1.92.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). As a group, sell-side analysts predict that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Insider Transactions at Olema Pharmaceuticals

In related news, insider Naseem Zojwalla sold 100,000 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $28.04, for a total value of $2,804,000.00. Following the completion of the transaction, the insider owned 53,997 shares of the company’s stock, valued at $1,514,075.88. The trade was a 64.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shane William Charles Kovacs sold 100,000 shares of the company’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the sale, the insider directly owned 139,727 shares of the company’s stock, valued at $4,014,356.71. This represents a 41.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 765,501 shares of company stock worth $22,052,432. Corporate insiders own 16.36% of the company’s stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Torren Management LLC acquired a new stake in Olema Pharmaceuticals in the fourth quarter valued at $44,000. Nisa Investment Advisors LLC grew its position in shares of Olema Pharmaceuticals by 14.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,764 shares of the company’s stock valued at $94,000 after buying an additional 477 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake 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 buying an additional 1,169 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Olema Pharmaceuticals in the third quarter valued at about $53,000. Finally, Ameritas Investment Partners Inc. raised its position in shares of Olema Pharmaceuticals by 55.4% during the second quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock worth $26,000 after acquiring an additional 2,168 shares during the last quarter. Institutional investors and hedge funds own 91.78% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Guggenheim assumed coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, October 8th. They set a “buy” rating and a $20.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Thursday, January 22nd. Piper Sandler assumed coverage on Olema Pharmaceuticals in a research note on Wednesday, January 7th. They issued an “overweight” rating and a $40.00 price target on the stock. Oppenheimer upped their price objective on Olema Pharmaceuticals from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Finally, HC Wainwright lifted their target price on Olema Pharmaceuticals from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Olema Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

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.