Olema Pharmaceuticals (NASDAQ:OLMA) Stock Price Down 3.5% – Time to Sell?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s stock price traded down 3.5% during mid-day trading on Thursday . The company traded as low as $31.87 and last traded at $31.4550. 128,938 shares traded hands during trading, a decline of 92% from the average session volume of 1,629,550 shares. The stock had previously closed at $32.60.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. 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 report on Friday, December 12th. UBS Group restated a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, October 20th. The Goldman Sachs Group boosted their price objective on Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. HC Wainwright increased their target price on Olema Pharmaceuticals from $36.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research note on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.50.

Olema Pharmaceuticals Trading Down 4.9%

The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -16.57 and a beta of 1.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.03 and a current ratio of 8.03. The company has a 50 day moving average price of $17.14 and a 200 day moving average price of $9.84.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.05). On average, research analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.

Institutional Investors Weigh In On Olema Pharmaceuticals

Several large investors have recently added to or reduced their stakes in OLMA. Ameritas Investment Partners Inc. boosted its position in Olema Pharmaceuticals by 55.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock valued at $26,000 after buying an additional 2,168 shares during the period. ProShare Advisors LLC raised its stake in shares of Olema Pharmaceuticals by 21.1% in the second quarter. ProShare Advisors LLC now owns 14,766 shares of the company’s stock valued at $63,000 after acquiring an additional 2,569 shares in the last quarter. Bank of America Corp DE boosted its holdings in Olema Pharmaceuticals by 0.4% in the third quarter. Bank of America Corp DE now owns 802,304 shares of the company’s stock valued at $7,855,000 after purchasing an additional 2,802 shares during the period. FNY Investment Advisers LLC grew its stake in Olema Pharmaceuticals by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $42,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in Olema Pharmaceuticals during the 3rd quarter worth about $53,000. 91.78% of the stock is owned by hedge funds and other 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.