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Olema Pharmaceuticals Inc. (NASDAQ: OLMA): Moving Toward A Higher Share Price

Olema Pharmaceuticals Inc. (NASDAQ:OLMA) shares, rose in value on Friday, 08/05/22, with the stock price up by 6.72% to the previous day’s close as strong demand from buyers drove the stock to $5.88.

Actively observing the price movement in the last trading, the stock closed the session at $5.51, falling within a range of $5.325 and $5.93. Referring to stock’s 52-week performance, its high was $32.19, and the low was $2.00. On the whole, OLMA has fluctuated by 18.79% over the past month.

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With the market capitalization of Olema Pharmaceuticals Inc. currently standing at about $236.85 million, investors are eagerly awaiting this quarter’s results, scheduled for Aug 10, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.64, which is expected to increase to -$0.66 for fiscal year -$2.82 and then to about -$3.22 by fiscal year 2023. Data indicates that the EPS growth is expected to be -56.70% in 2023, while the next year’s EPS growth is forecast to be -14.20%.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that OLMA’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a Hold.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of OLMA currently trading nearly 19.98% and 39.47% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 69.89, while the 7-day volatility ratio is showing 8.93% which for the 30-day chart, stands at 8.88%. Furthermore, Olema Pharmaceuticals Inc. (OLMA)’s average true range (ATR) is 0.44.

Data on historical trading for Olema Pharmaceuticals Inc. (NASDAQ:OLMA) indicates that the trading volumes over the past 10 days have averaged 0.27 million and over the past 3 months, they’ve averaged 544.19K. According to company’s latest data on outstanding shares, there are 39.84 million shares outstanding.

Nearly 7.30% of Olema Pharmaceuticals Inc.’s shares belong to company insiders and institutional investors own 90.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.79 million shares as on Jul 14, 2022, resulting in a short ratio of 4.01. According to the data, the short interest in Olema Pharmaceuticals Inc. (OLMA) stood at 4.44% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 2.75 million. The stock has fallen by -37.18% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the OLMA stock heading into the next quarter.

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