Olema Pharmaceuticals, Inc. (NASDAQ:OLMA – Get Rating) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 2,380,000 shares, a decline of 18.2% from the March 31st total of 2,910,000 shares. Currently, 7.2% of the shares of the stock are sold short. Based on an average daily volume of 417,300 shares, the days-to-cover ratio is currently 5.7 days.
Hedge funds have recently made changes to their positions in the company. Dupont Capital Management Corp acquired a new position in shares of Olema Pharmaceuticals during the 4th quarter valued at about $173,000. Renaissance Technologies LLC purchased a new stake in Olema Pharmaceuticals in the 3rd quarter valued at about $2,698,000. Two Sigma Investments LP purchased a new stake in Olema Pharmaceuticals in the 3rd quarter valued at about $2,742,000. Geode Capital Management LLC raised its holdings in Olema Pharmaceuticals by 118.9% in the 3rd quarter. Geode Capital Management LLC now owns 465,287 shares of the company’s stock valued at $12,823,000 after buying an additional 252,765 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Olema Pharmaceuticals by 2.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,649,204 shares of the company’s stock valued at $45,451,000 after buying an additional 32,906 shares during the period.
Several equities research analysts have issued reports on OLMA shares. HC Wainwright started coverage on shares of Olema Pharmaceuticals in a research note on Monday, February 28th. They set a “neutral” rating on the stock. Zacks Investment Research raised shares of Olema Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, April 29th.
Olema Pharmaceuticals (NASDAQ:OLMA – Get Rating) last announced its quarterly earnings results on Monday, February 28th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.03). Analysts expect that Olema Pharmaceuticals will post -2.79 earnings per share for the current year.
About Olema Pharmaceuticals (Get Rating)
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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