Olema Pharmaceuticals (NASDAQ:OLMA) Trading Down 5.2% Following Analyst Downgrade

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) fell 5.2% during mid-day trading on Tuesday after Guggenheim lowered their price target on the stock from $40.00 to $38.00. Guggenheim currently has a buy rating on the stock. Olema Pharmaceuticals traded as low as $15.63 and last traded at $15.7360. 362,758 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 1,607,136 shares. The stock had previously closed at $16.60.

Other research analysts have also issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research note on Thursday, January 22nd. Citigroup boosted their price target on shares of Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a report on Friday, December 12th. Stifel Nicolaus began coverage on shares of Olema Pharmaceuticals in a research note on Wednesday, February 11th. They issued a “buy” rating and a $48.00 price target on the stock. The Goldman Sachs Group increased their price objective on Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, UBS Group assumed coverage on Olema Pharmaceuticals in a research report on Wednesday, January 7th. They set a “buy” rating and a $45.00 price objective for the company. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Insider Buying and Selling

In other news, insider Shawnte Mitchell sold 25,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $24.25, for a total transaction of $606,250.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Cyrus Harmon sold 10,000 shares of Olema Pharmaceuticals stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $26.88, for a total transaction of $268,800.00. Following the completion of the sale, the director directly owned 727,770 shares of the company’s stock, valued at approximately $19,562,457.60. The trade was a 1.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 805,501 shares of company stock valued at $23,003,832. 16.36% of the stock is owned by company insiders.

Institutional Trading of Olema Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its stake in shares of Olema Pharmaceuticals by 14.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,764 shares of the company’s stock worth $94,000 after acquiring an additional 477 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Olema Pharmaceuticals by 8.2% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,018 shares of the company’s stock valued at $325,000 after acquiring an additional 987 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Olema Pharmaceuticals by 44.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the company’s stock worth $96,000 after purchasing an additional 1,169 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Olema Pharmaceuticals by 9,476.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock worth $31,000 after purchasing an additional 1,232 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in Olema Pharmaceuticals by 13.8% during the fourth quarter. ProShare Advisors LLC now owns 14,367 shares of the company’s stock worth $359,000 after purchasing an additional 1,740 shares during the period. Institutional investors and hedge funds own 91.78% of the company’s stock.

Olema Pharmaceuticals Stock Down 5.2%

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 business has a 50-day simple moving average of $24.01 and a 200-day simple moving average of $18.66. The stock has a market cap of $1.08 billion, a P/E ratio of -8.41 and a beta of 1.93.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings results on Monday, March 16th. The company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.01. Analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

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.