Olema Pharmaceuticals (NASDAQ:OLMA) Posts Earnings Results, Misses Expectations By $0.08 EPS

Olema Pharmaceuticals (NASDAQ:OLMA) released its earnings results on Monday. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.08), FiscalAI reports.

Olema Pharmaceuticals Stock Down 0.9%

OLMA traded down $0.11 during trading on Monday, reaching $11.94. The stock had a trading volume of 679,190 shares, compared to its average volume of 1,430,767. Olema Pharmaceuticals has a one year low of $4.47 and a one year high of $36.26. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -5.91 and a beta of 2.03. The company has a current ratio of 10.88, a quick ratio of 10.88 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $11.26 and its two-hundred day moving average is $15.87.

Analyst Ratings Changes

A number of research firms have recently weighed in on OLMA. Guggenheim lowered their target price on Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings cut shares of Olema Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 3rd. Wall Street Zen cut Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. Finally, HC Wainwright reiterated a “buy” rating on shares of Olema Pharmaceuticals in a report on Friday, May 22nd. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $44.10.

Insider Transactions at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 12,500 shares of the business’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $11.58, for a total transaction of $144,750.00. Following the sale, the director owned 715,270 shares of the company’s stock, valued at $8,282,826.60. The trade was a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 12.56% of the stock is currently owned by company insiders.

Institutional Trading of Olema Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in OLMA. Bain Capital Life Sciences Investors LLC raised its stake in Olema Pharmaceuticals by 24.3% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,508,641 shares of the company’s stock valued at $212,716,000 after buying an additional 1,664,687 shares during the last quarter. Paradigm Biocapital Advisors LP lifted its stake in shares of Olema Pharmaceuticals by 11.0% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 7,544,172 shares of the company’s stock worth $188,604,000 after buying an additional 750,000 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Olema Pharmaceuticals by 87.1% during the fourth quarter. Janus Henderson Group PLC now owns 6,710,194 shares of the company’s stock valued at $167,901,000 after acquiring an additional 3,124,345 shares in the last quarter. Deep Track Capital LP raised its holdings in Olema Pharmaceuticals by 0.8% in the 3rd quarter. Deep Track Capital LP now owns 3,470,172 shares of the company’s stock worth $33,973,000 after acquiring an additional 27,339 shares during the last quarter. Finally, Siren L.L.C. purchased a new stake in Olema Pharmaceuticals during the 4th quarter valued at $82,518,000. 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.