Olema Pharmaceuticals (NASDAQ:OLMA) Shares Down 5.7% – What’s Next?

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s share price dropped 5.7% on Monday . The stock traded as low as $9.81 and last traded at $9.85. Approximately 113,528 shares changed 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.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price 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, the stock presently has a consensus rating of “Buy” and a consensus target price of $27.00.

Olema Pharmaceuticals Trading Up 2.1 %

The stock has a fifty day moving average of $10.97 and a 200-day moving average of $11.94. The firm has a market capitalization of $552.35 million, a price-to-earnings ratio of -4.40 and a beta of 1.92.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of institutional investors have recently bought and sold shares of OLMA. Conway Capital Management Inc. acquired a new position in shares of Olema Pharmaceuticals in the third quarter worth about $119,000. China Universal Asset Management Co. Ltd. grew its position in Olema Pharmaceuticals by 67.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock worth $132,000 after purchasing an additional 4,442 shares in the last quarter. Portland Investment Counsel Inc. acquired a new stake in Olema Pharmaceuticals during the 3rd quarter valued at $143,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Olema Pharmaceuticals in the second quarter worth $145,000. Finally, SG Americas Securities LLC purchased a new position in shares of Olema Pharmaceuticals during the third quarter valued at $156,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

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.