Olema Pharmaceuticals (NASDAQ:OLMA) Announces Earnings Results

Olema Pharmaceuticals (NASDAQ:OLMA) announced its quarterly earnings data on Monday. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.06), FiscalAI reports.

Olema Pharmaceuticals Price Performance

NASDAQ OLMA traded up $0.04 on Wednesday, hitting $10.47. The company had a trading volume of 163,586 shares, compared to its average volume of 1,431,810. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.88 and a quick ratio of 10.88. The company’s fifty day moving average price is $11.24 and its 200-day moving average price is $15.66. The company has a market capitalization of $914.17 million, a PE ratio of -4.93 and a beta of 2.03. Olema Pharmaceuticals has a 12-month low of $5.13 and a 12-month high of $36.26.

Insider Activity

In other 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 completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. 12.56% of the stock is currently owned by company insiders.

Institutional Trading of Olema Pharmaceuticals

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in shares of Olema Pharmaceuticals during the first quarter worth $172,000. Goldman Sachs Group Inc. increased its holdings in shares of Olema Pharmaceuticals by 93.6% in the first quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock valued at $2,787,000 after purchasing an additional 358,412 shares during the last quarter. Jane Street Group LLC lifted its position in Olema Pharmaceuticals by 216.8% during the first quarter. Jane Street Group LLC now owns 138,552 shares of the company’s stock worth $521,000 after buying an additional 94,815 shares in the last quarter. Geode Capital Management LLC boosted its stake in Olema Pharmaceuticals by 22.4% during the second quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock worth $5,650,000 after buying an additional 242,997 shares during the last quarter. Finally, Creative Planning acquired a new position in Olema Pharmaceuticals during the second quarter worth $83,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on OLMA shares. HC Wainwright cut their price objective on shares of Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday. Citigroup decreased their target price on shares of Olema Pharmaceuticals to $59.00 and set a “buy” rating for the company in a research report on Tuesday. Wall Street Zen lowered shares of Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, July 25th. Guggenheim reduced their price objective 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. Finally, Weiss Ratings downgraded Olema Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, August 3rd. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.60.

Olema Pharmaceuticals Company Profile

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.