Olema Pharmaceuticals, Inc. (NASDAQ:OLMA – Get Rating) saw a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 2,100,000 shares, a drop of 23.6% from the June 15th total of 2,750,000 shares. Based on an average daily trading volume, of 454,000 shares, the short-interest ratio is presently 4.6 days. Approximately 6.1% of the shares of the company are sold short.
Insider Activity at Olema Pharmaceuticals
In other news, Director Bvf Partners L. P/Il bought 200,000 shares of the company’s stock in a transaction on Friday, June 10th. The shares were acquired at an average cost of $4.03 per share, with a total value of $806,000.00. Following the completion of the transaction, the director now owns 3,913,676 shares of the company’s stock, valued at approximately $15,772,114.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 21.10% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Olema Pharmaceuticals
Hedge funds have recently made changes to their positions in the company. EDBI Pte Ltd purchased a new stake in shares of Olema Pharmaceuticals in the 4th quarter worth $30,000. Strs Ohio raised its position in shares of Olema Pharmaceuticals by 90.5% in the 4th quarter. Strs Ohio now owns 4,000 shares of the company’s stock worth $37,000 after acquiring an additional 1,900 shares in the last quarter. Running Point Capital Advisors LLC bought a new position in shares of Olema Pharmaceuticals in the 1st quarter worth $43,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Olema Pharmaceuticals in the 4th quarter worth $53,000. Finally, Prelude Capital Management LLC bought a new position in shares of Olema Pharmaceuticals in the 1st quarter worth $61,000.
Olema Pharmaceuticals Trading Down 0.8 %
Shares of NASDAQ OLMA traded down $0.04 during trading hours on Tuesday, hitting $4.71. 2,255 shares of the company traded hands, compared to its average volume of 401,236. The stock has a market capitalization of $190.05 million, a price-to-earnings ratio of -2.38 and a beta of 0.68. The company’s 50 day moving average price is $3.56 and its 200 day moving average price is $4.36. Olema Pharmaceuticals has a 12 month low of $2.00 and a 12 month high of $32.19.
Olema Pharmaceuticals (NASDAQ:OLMA – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.01). Equities analysts anticipate that Olema Pharmaceuticals will post -2.87 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on OLMA. Canaccord Genuity Group reaffirmed a “buy” rating and set a $16.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday, July 6th. HC Wainwright raised Olema Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Thursday, June 9th.
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.