Olema Pharmaceuticals Target of Unusually Large Options Trading (NASDAQ:OLMA)

by · The Cerbat Gem

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA – Get Free Report) saw some unusual options trading on Tuesday. Investors acquired 4,446 put options on the stock. This represents an increase of 1,511% compared to the typical volume of 276 put options.

Insider Activity

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 3,086 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $8.32, for a total transaction of $25,675.52. Following the completion of the sale, the director owned 117,028 shares in the company, valued at $973,672.96. This trade represents a 2.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 25,000 shares of company stock worth $204,841 over the last 90 days. 16.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of OLMA. Persistent Asset Partners Ltd boosted its position in Olema Pharmaceuticals by 153.8% during the second quarter. Persistent Asset Partners Ltd now owns 58,333 shares of the company’s stock valued at $248,000 after purchasing an additional 35,345 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Olema Pharmaceuticals by 93.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock worth $2,787,000 after purchasing an additional 358,412 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Olema Pharmaceuticals during the 1st quarter valued at about $1,295,000. Affinity Asset Advisors LLC bought a new stake in shares of Olema Pharmaceuticals in the 1st quarter valued at approximately $1,222,000. Finally, PDT Partners LLC acquired a new position in Olema Pharmaceuticals in the first quarter worth approximately $279,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Olema Pharmaceuticals Price Performance

Shares of OLMA traded up $11.06 during mid-day trading on Tuesday, hitting $19.58. The company’s stock had a trading volume of 49,373,285 shares, compared to its average volume of 1,148,266. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 8.03. The firm has a 50-day moving average price of $8.93 and a 200 day moving average price of $6.34. Olema Pharmaceuticals has a fifty-two week low of $2.86 and a fifty-two week high of $27.17. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -10.48 and a beta of 2.07.

Olema Pharmaceuticals (NASDAQ:OLMA – Get Free Report) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.05). On average, research analysts predict that Olema Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on OLMA shares. Weiss Ratings restated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on shares of Olema Pharmaceuticals from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Oppenheimer reiterated an “outperform” rating and set a $22.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday, September 3rd. UBS Group restated a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, October 20th. Finally, Citigroup boosted their price target on Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Check Out Our Latest Stock Analysis on OLMA

About Olema Pharmaceuticals

(Get Free Report)

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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