Olema Pharmaceuticals (NASDAQ:OLMA) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Olema Pharmaceuticals (NASDAQ:OLMA) posted its earnings results on Tuesday. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.12, Zacks reports.

Olema Pharmaceuticals Stock Down 6.5 %

OLMA stock traded down $0.29 during midday trading on Tuesday, hitting $4.16. 287,598 shares of the company traded hands, compared to its average volume of 807,401. Olema Pharmaceuticals has a twelve month low of $3.95 and a twelve month high of $16.62. The stock has a market capitalization of $238.47 million, a price-to-earnings ratio of -1.90 and a beta of 2.11. The business has a 50 day simple moving average of $5.20 and a 200-day simple moving average of $8.51.

Insider Transactions at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was acquired at an average price of $5.76 per share, with a total value of $1,728,000.00. Following the transaction, the insider now owns 7,800,000 shares of the company’s stock, valued at approximately $44,928,000. This trade represents a 4.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 19.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a report on Tuesday, March 11th.

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.