Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Short Interest Update

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Get Free Report) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 6,500,000 shares, a decline of 25.2% from the March 15th total of 8,690,000 shares. Currently, 14.1% of the company's shares are short sold. Based on an average daily volume of 1,090,000 shares, the short-interest ratio is presently 6.0 days.

Olema Pharmaceuticals Trading Up 7.5 %

NASDAQ OLMA traded up $0.33 during trading hours on Monday, hitting $4.75. 897,153 shares of the company's stock were exchanged, compared to its average volume of 859,881. The firm has a market cap of $324.58 million, a price-to-earnings ratio of -2.17 and a beta of 2.10. The stock has a 50-day simple moving average of $4.19 and a 200 day simple moving average of $6.95. Olema Pharmaceuticals has a 1-year low of $2.86 and a 1-year high of $16.62.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.12. On average, sell-side analysts anticipate that Olema Pharmaceuticals will post -2.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on OLMA shares. HC Wainwright reaffirmed a "buy" rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th. Oppenheimer reaffirmed an "outperform" rating and issued a $25.00 price objective (down from $30.00) on shares of Olema Pharmaceuticals in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating for the company in a research report on Friday, March 28th.

Institutional Investors Weigh In On Olema Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of OLMA. KLP Kapitalforvaltning AS bought a new position in shares of Olema Pharmaceuticals during the 4th quarter worth about $30,000. Hsbc Holdings PLC bought a new position in Olema Pharmaceuticals in the fourth quarter worth approximately $58,000. Teacher Retirement System of Texas acquired a new stake in Olema Pharmaceuticals in the fourth quarter valued at approximately $60,000. Vontobel Holding Ltd. bought a new stake in shares of Olema Pharmaceuticals during the fourth quarter valued at approximately $62,000. Finally, Virtus ETF Advisers LLC raised its position in shares of Olema Pharmaceuticals by 43.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 10,579 shares of the company's stock worth $62,000 after purchasing an additional 3,185 shares during the period. 91.78% of the stock is owned by institutional investors.

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.