Olema Pharmaceuticals Sees Unusually High Options Volume (NASDAQ:OLMA)

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) was the recipient of some unusual options trading on Tuesday. Traders bought 17,254 put options on the stock. This is an increase of approximately 6,018% compared to the average daily volume of 282 put options.

Insider Activity at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $11.58, for a total value of $144,750.00. Following the completion of the sale, the director owned 715,270 shares in the company, valued at approximately $8,282,826.60. This trade represents a 1.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Siren L.L.C. increased its position in shares of Olema Pharmaceuticals by 44.1% during the 1st quarter. Siren L.L.C. now owns 4,756,949 shares of the company’s stock worth $70,926,000 after purchasing an additional 1,456,249 shares in the last quarter. Jennison Associates LLC acquired a new position in Olema Pharmaceuticals in the fourth quarter valued at about $24,100,000. SEB Asset Management AB acquired a new position in Olema Pharmaceuticals in the first quarter valued at about $5,061,000. Defilade Capital Management L.P. grew its stake in Olema Pharmaceuticals by 21.9% during the first quarter. Defilade Capital Management L.P. now owns 1,504,536 shares of the company’s stock worth $22,433,000 after buying an additional 269,902 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Olema Pharmaceuticals by 12.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,082,434 shares of the company’s stock worth $16,134,000 after buying an additional 123,790 shares during the last quarter. 91.78% of the stock is owned by institutional investors.

Olema Pharmaceuticals Price Performance

NASDAQ OLMA traded down $0.12 during trading on Tuesday, reaching $10.65. 960,508 shares of the company traded hands, compared to its average volume of 1,429,678. Olema Pharmaceuticals has a 1-year low of $5.34 and a 1-year high of $36.26. The company has a market cap of $931.85 million, a price-to-earnings ratio of -5.02 and a beta of 2.03. The stock’s 50 day moving average price is $11.26 and its two-hundred day moving average price is $15.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.86 and a current ratio of 8.86.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its earnings results on Monday, August 10th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.06). As a group, analysts anticipate that Olema Pharmaceuticals will post -2.37 EPS for the current year.

Analyst Ratings Changes

OLMA has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price objective on Olema Pharmaceuticals from $52.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Citigroup decreased their price target on shares of Olema Pharmaceuticals to $59.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. HC Wainwright lowered their price target on shares of Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Wall Street Zen cut shares of Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. Finally, Guggenheim dropped their price objective on shares of Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.40.

About Olema Pharmaceuticals

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.