Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) has been given a consensus recommendation of “Buy” by the six ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $60.67.
OLMA has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Olema Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 14th. Lifesci Capital restated an “outperform” rating on shares of Olema Pharmaceuticals in a research report on Monday, June 21st.
Shares of NASDAQ OLMA traded down $0.63 during midday trading on Tuesday, hitting $27.27. The stock had a trading volume of 227,344 shares, compared to its average volume of 201,715. The business’s 50 day moving average is $26.76 and its 200-day moving average is $29.57. The company has a market cap of $1.08 billion and a P/E ratio of -7.97. Olema Pharmaceuticals has a 52 week low of $19.41 and a 52 week high of $60.27.
In other Olema Pharmaceuticals news, insider Kinney Horn sold 5,251 shares of the stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $29.38, for a total value of $154,274.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sean Bohen sold 871 shares of the stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $30.05, for a total transaction of $26,173.55. The disclosure for this sale can be found here. Insiders sold 44,747 shares of company stock worth $1,157,568 over the last quarter. Insiders own 23.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in OLMA. Royal Bank of Canada purchased a new stake in shares of Olema Pharmaceuticals in the first quarter worth $37,000. Cubist Systematic Strategies LLC purchased a new position in Olema Pharmaceuticals during the second quarter valued at $60,000. Citigroup Inc. grew its stake in Olema Pharmaceuticals by 129.0% during the second quarter. Citigroup Inc. now owns 2,718 shares of the company’s stock valued at $76,000 after acquiring an additional 1,531 shares in the last quarter. Strs Ohio purchased a new position in Olema Pharmaceuticals during the first quarter valued at $96,000. Finally, Metropolitan Life Insurance Co NY grew its stake in Olema Pharmaceuticals by 115,250.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 4,614 shares of the company’s stock valued at $129,000 after acquiring an additional 4,610 shares in the last quarter. 94.54% of the stock is owned by hedge funds and other 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 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.
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