Olema Pharmaceuticals (NASDAQ:OLMA) Trading Up 9.2%

Olema Pharmaceuticals, Inc. (NASDAQ:OLMAGet Free Report)’s stock price was up 9.2% during mid-day trading on Tuesday . The stock traded as high as $12.88 and last traded at $12.84. Approximately 242,074 shares traded hands during trading, a decline of 70% from the average daily volume of 811,306 shares. The stock had previously closed at $11.76.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on OLMA shares. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Tuesday. Capital One Financial reissued an “overweight” rating on shares of Olema Pharmaceuticals in a research report on Thursday, February 22nd. Finally, The Goldman Sachs Group began coverage on Olema Pharmaceuticals in a research report on Tuesday, April 2nd. They issued a “buy” rating and a $24.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $22.00.

Get Our Latest Stock Analysis on Olema Pharmaceuticals

Olema Pharmaceuticals Stock Down 0.5 %

The company has a 50 day moving average of $10.40 and a 200 day moving average of $12.17.

Olema Pharmaceuticals (NASDAQ:OLMAGet Free Report) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.03). Equities analysts predict that Olema Pharmaceuticals, Inc. will post -2.37 earnings per share for the current year.

Insider Activity

In related news, Director Cyrus Harmon sold 15,000 shares of Olema Pharmaceuticals stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $9.51, for a total value of $142,650.00. Following the completion of the transaction, the director now owns 811,283 shares in the company, valued at $7,715,301.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 60,000 shares of company stock valued at $612,450. Company insiders own 19.40% of the company’s stock.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Victory Capital Management Inc. purchased a new position in shares of Olema Pharmaceuticals in the 3rd quarter valued at approximately $784,000. Silverarc Capital Management LLC raised its holdings in shares of Olema Pharmaceuticals by 4.4% in the third quarter. Silverarc Capital Management LLC now owns 407,801 shares of the company’s stock worth $5,036,000 after acquiring an additional 17,335 shares during the last quarter. ClariVest Asset Management LLC increased its position in Olema Pharmaceuticals by 23.9% during the 3rd quarter. ClariVest Asset Management LLC now owns 65,900 shares of the company’s stock worth $813,000 after purchasing an additional 12,700 shares in the last quarter. EAM Investors LLC raised its stake in Olema Pharmaceuticals by 43.3% in the 3rd quarter. EAM Investors LLC now owns 243,290 shares of the company’s stock valued at $3,005,000 after purchasing an additional 73,560 shares during the last quarter. Finally, Caxton Associates LP purchased a new position in Olema Pharmaceuticals in the 3rd quarter valued at about $166,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Company Profile

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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.

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