Olema Pharmaceuticals (NASDAQ:OLMA) Shares Down 6.2%

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s share price fell 6.2% during mid-day trading on Thursday . The company traded as low as $10.05 and last traded at $10.05. 159,950 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 779,765 shares. The stock had previously closed at $10.71.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OLMA. The Goldman Sachs Group began coverage on shares of Olema Pharmaceuticals in a research note on Tuesday, April 2nd. They issued a “buy” rating and a $24.00 price target on the stock. Citigroup began coverage on shares of Olema Pharmaceuticals in a research note on Tuesday, January 30th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Capital One Financial reiterated an “overweight” rating on shares of Olema Pharmaceuticals in a research note on Thursday, February 22nd. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $21.43.

Olema Pharmaceuticals Stock Up 0.3 %

The firm has a fifty day moving average of $12.40 and a two-hundred day moving average of $12.94.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Monday, March 11th. The company reported ($0.49) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.49). On average, research analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.34 EPS for the current fiscal year.

Insider Transactions at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $12.41, for a total value of $310,250.00. Following the sale, the director now owns 846,283 shares in the company, valued at $10,502,372.03. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 70,000 shares of company stock worth $835,400. Insiders own 23.50% of the company’s stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Olema Pharmaceuticals by 58.2% in the fourth quarter. Vanguard Group Inc. now owns 2,705,895 shares of the company’s stock valued at $37,964,000 after acquiring an additional 995,588 shares during the period. Perceptive Advisors LLC acquired a new position in Olema Pharmaceuticals in the fourth quarter valued at approximately $7,574,000. Virtus ETF Advisers LLC acquired a new position in Olema Pharmaceuticals in the fourth quarter valued at approximately $105,000. Legal & General Group Plc lifted its holdings in Olema Pharmaceuticals by 910.8% in the fourth quarter. Legal & General Group Plc now owns 24,533 shares of the company’s stock valued at $344,000 after acquiring an additional 22,106 shares during the period. Finally, Barclays PLC lifted its holdings in Olema Pharmaceuticals by 831.8% in the fourth quarter. Barclays PLC now owns 43,396 shares of the company’s stock valued at $609,000 after acquiring an additional 38,739 shares during the period. 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.