Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Short Interest Down 25.2% in March

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) saw a large 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. Based on an average daily volume of 1,090,000 shares, the days-to-cover ratio is presently 6.0 days. Currently, 14.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th. Oppenheimer restated an “outperform” rating and set a $25.00 target price (down previously from $30.00) on shares of Olema Pharmaceuticals in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. reduced their price objective on Olema Pharmaceuticals from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, March 28th.

Olema Pharmaceuticals Stock Up 3.8 %

Shares of OLMA traded up $0.16 during mid-day trading on Friday, hitting $4.42. 615,557 shares of the company’s stock were exchanged, compared to its average volume of 859,731. The firm has a market cap of $302.03 million, a price-to-earnings ratio of -2.02 and a beta of 2.10. The stock’s 50-day simple moving average is $4.20 and its 200-day simple moving average is $7.03. Olema Pharmaceuticals has a 52 week low of $2.86 and a 52 week high of $16.62.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.12. Analysts forecast that Olema Pharmaceuticals will post -2.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Olema Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of OLMA. KLP Kapitalforvaltning AS acquired a new position in Olema Pharmaceuticals during the fourth quarter valued at approximately $30,000. Hsbc Holdings PLC bought a new stake in shares of Olema Pharmaceuticals during the 4th quarter worth $58,000. Teacher Retirement System of Texas acquired a new stake in Olema Pharmaceuticals in the fourth quarter valued at about $60,000. Virtus ETF Advisers LLC raised its stake in 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 acquiring an additional 3,185 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new position in Olema Pharmaceuticals during the fourth quarter worth about $62,000. Institutional investors own 91.78% of the company’s stock.

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.