Olema Pharmaceuticals (NASDAQ:OLMA) Trading Down 10.4% – Time to Sell?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s share price was down 10.4% during trading on Tuesday . The stock traded as low as $13.28 and last traded at $13.3120. Approximately 1,088,487 shares were traded during trading, a decline of 24% from the average daily volume of 1,423,672 shares. The stock had previously closed at $14.86.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on OLMA shares. JPMorgan Chase & Co. upped their target price on shares of Olema Pharmaceuticals from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Oppenheimer reissued an “outperform” rating on shares of Olema Pharmaceuticals in a report on Monday, March 9th. The Goldman Sachs Group lowered their price objective on shares of Olema Pharmaceuticals from $38.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, March 18th. Stifel Nicolaus began coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, February 11th. They issued a “buy” rating and a $48.00 target price for the company. Finally, Jefferies Financial Group started coverage on shares of Olema Pharmaceuticals in a research note on Thursday, March 19th. They set a “buy” rating and a $40.00 target price for the company. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Olema Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $44.10.

Olema Pharmaceuticals Stock Up 1.8%

The company’s 50-day moving average price is $15.60 and its 200 day moving average price is $20.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.95 and a current ratio of 10.88. The stock has a market cap of $1.21 billion, a PE ratio of -6.84 and a beta of 2.05.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.52). As a group, analysts forecast that Olema Pharmaceuticals, Inc. will post -2.16 EPS for the current fiscal year.

Insider Buying and Selling at Olema Pharmaceuticals

In other news, insider Shawnte Mitchell sold 25,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total value of $606,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.56% of the stock is owned by corporate insiders.

Institutional Trading of Olema Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of Olema Pharmaceuticals during the 4th quarter valued at $1,735,000. Candriam S.C.A. increased its stake in Olema Pharmaceuticals by 46.9% in the 3rd quarter. Candriam S.C.A. now owns 1,249,727 shares of the company’s stock worth $12,235,000 after buying an additional 399,273 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Olema Pharmaceuticals by 83.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 447,046 shares of the company’s stock worth $11,176,000 after buying an additional 202,970 shares in the last quarter. Kingdon Capital Management L.L.C. bought a new stake in Olema Pharmaceuticals during the third quarter valued at about $8,361,000. Finally, Jennison Associates LLC purchased a new position in shares of Olema Pharmaceuticals in the fourth quarter valued at about $24,100,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

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.