Olema Pharmaceuticals (NASDAQ:OLMA) Shares Down 5.7% – Here’s What Happened

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) shares dropped 5.7% on Monday . The stock traded as low as $9.81 and last traded at $9.85. Approximately 113,528 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 730,516 shares. The stock had previously closed at $10.45.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday, November 13th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $27.00.

Olema Pharmaceuticals Trading Down 4.0 %

The firm’s fifty day moving average price is $11.07 and its 200 day moving average price is $11.93. The firm has a market capitalization of $574.72 million, a PE ratio of -4.50 and a beta of 1.93.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ensign Peak Advisors Inc boosted its stake in Olema Pharmaceuticals by 6.1% in the second quarter. Ensign Peak Advisors Inc now owns 14,849 shares of the company’s stock worth $161,000 after purchasing an additional 850 shares in the last quarter. California State Teachers Retirement System lifted its stake in Olema Pharmaceuticals by 3.4% in the 1st quarter. California State Teachers Retirement System now owns 34,695 shares of the company’s stock valued at $393,000 after acquiring an additional 1,132 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Olema Pharmaceuticals by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,251 shares of the company’s stock worth $298,000 after acquiring an additional 1,486 shares during the last quarter. ClariVest Asset Management LLC grew its stake in shares of Olema Pharmaceuticals by 3.1% during the 2nd quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company’s stock worth $683,000 after acquiring an additional 1,881 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its stake in Olema Pharmaceuticals by 5.2% in the 3rd quarter. EP Wealth Advisors LLC now owns 48,655 shares of the company’s stock valued at $581,000 after buying an additional 2,407 shares during the last quarter. 91.78% of the stock is owned by institutional investors.

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.