Olema Pharmaceuticals (NASDAQ:OLMA) Shares Gap Up to $10.89

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMAGet Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $10.89, but opened at $11.45. Olema Pharmaceuticals shares last traded at $11.11, with a volume of 87,204 shares trading hands.

Analyst Upgrades and Downgrades

OLMA has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on Olema Pharmaceuticals in a research report on Tuesday. They set a “buy” rating and a $24.00 price objective on the stock. Citigroup assumed coverage on Olema Pharmaceuticals in a research note on Tuesday, January 30th. They set a “buy” rating and a $20.00 target price on the stock. Finally, Capital One Financial reaffirmed an “overweight” rating on shares of Olema Pharmaceuticals in a research note on Thursday, February 22nd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $21.43.

Get Our Latest Research Report on Olema Pharmaceuticals

Olema Pharmaceuticals Stock Up 2.2 %

The firm has a 50 day moving average of $13.15 and a 200-day moving average of $13.09.

Olema Pharmaceuticals (NASDAQ:OLMAGet Free Report) last announced its quarterly earnings data on Monday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.49). On average, analysts expect that Olema Pharmaceuticals, Inc. will post -2.24 EPS for the current year.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 20,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $10.97, for a total transaction of $219,400.00. Following the completion of the sale, the director now owns 826,283 shares in the company, valued at $9,064,324.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 70,000 shares of company stock worth $835,400 over the last 90 days. Company insiders own 23.50% of the company’s stock.

Institutional Trading of Olema Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in OLMA. Royal Bank of Canada lifted its holdings in shares of Olema Pharmaceuticals by 682.4% during the 2nd quarter. Royal Bank of Canada now owns 2,801 shares of the company’s stock valued at $25,000 after purchasing an additional 2,443 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Olema Pharmaceuticals during the 4th quarter valued at $28,000. Balyasny Asset Management LLC purchased a new stake in shares of Olema Pharmaceuticals during the 3rd quarter valued at $33,000. Virtu Financial LLC purchased a new stake in shares of Olema Pharmaceuticals during the 4th quarter valued at $33,000. Finally, Citigroup Inc. purchased a new stake in shares of Olema Pharmaceuticals during the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Company Profile

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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; and OP-1250 combine with CDK4/6 inhibitors palbociclib, ribociclib, and alpelisib in Phase 1b/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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