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

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) was the target of some unusual options trading on Tuesday. Traders bought 4,446 put options on the stock. This is an increase of 1,511% compared to the average daily volume of 276 put options.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday. Guggenheim assumed coverage on shares of Olema Pharmaceuticals in a research note on Wednesday, October 8th. They issued a “buy” rating and a $20.00 price objective for the company. HC Wainwright upped their target price on shares of Olema Pharmaceuticals from $28.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup increased their target price on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Finally, Zacks Research raised Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th. 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.67.

Insider Activity at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 3,086 shares of Olema Pharmaceuticals stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $8.32, for a total value of $25,675.52. Following the sale, the director directly owned 117,028 shares in the company, valued at $973,672.96. The trade was a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 25,000 shares of company stock valued at $204,841. 16.36% of the stock is owned by company insiders.

Institutional Trading of Olema Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kingdon Capital Management L.L.C. purchased a new position in Olema Pharmaceuticals in the 3rd quarter valued at about $8,361,000. Ameriprise Financial Inc. grew its holdings in shares of Olema Pharmaceuticals by 193.4% during the second quarter. Ameriprise Financial Inc. now owns 1,172,863 shares of the company’s stock worth $4,996,000 after buying an additional 773,064 shares in the last quarter. Candriam S.C.A. raised its position in shares of Olema Pharmaceuticals by 46.9% in the third quarter. Candriam S.C.A. now owns 1,249,727 shares of the company’s stock valued at $12,235,000 after buying an additional 399,273 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Olema Pharmaceuticals by 93.6% during the first quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock valued at $2,787,000 after buying an additional 358,412 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Olema Pharmaceuticals during the first quarter valued at approximately $1,295,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Price Performance

OLMA stock opened at $20.14 on Wednesday. The stock’s 50 day moving average price is $9.19 and its 200 day moving average price is $6.44. The firm has a market cap of $1.38 billion, a P/E ratio of -10.77 and a beta of 2.07. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.03 and a current ratio of 8.03. Olema Pharmaceuticals has a 1 year low of $2.86 and a 1 year high of $27.17.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.05). On average, sell-side analysts expect that Olema Pharmaceuticals will post -2.33 earnings per share for the current fiscal year.

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 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.