OLMA
Olema Pharmaceuticals, Inc.Healthcare·Biotechnology
$13.19
$1.2B market cap
Revenue
$0.0M
Free Cash Flow
$-84.3M
Rev Growth
+0.0%
FCF Margin
0.0%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
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 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. The company was formerly known as
2-Year Price History
$13.68+41.3%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 0.0 | -57.9 | -58.0 | -53.1 | -46.0 | -46.0 | -0.0 | 505.4 | 1.0 | 102.8 | -148.7% | -- | -- |
| Act | 2025-Q4 | 0.0 | -49.9 | -50.1 | -46.1 | -38.3 | -38.3 | -0.0 | 505.4 | 1.2 | 91.3 | -127.8% | -- | -- |
Valuation & Metrics
Market Stats
Price$13.19
Market Cap$1.2B
Enterprise Value$648M
P/S Ratio0.0x
P/FCF--
EV/FCF--
FCF Margin (TTM)0.0%
FCF Yield-7.3%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$0.0M
Net Income$-99.2M
Free Cash Flow$-84.3M
Revenue Growth (YoY)+0.0%
EBITDA Margin0.0%
Net Margin0.0%
FCF Margin0.0%
CapEx % of Revenue0.0%
SBC % of Revenue0.0%
ROIC-138.3%
WC Change % Rev0.0%
Interest Coverage--
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares13.0M
Days to Cover16.5
Change (vs Prior)+0.8%
Need at least 2 settlement dates for chart
Employees
Headcount96
Revenue / Employee$0
Gross Profit / Employee$-3,188
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
102.1%(+85.2% YoY)
176 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
20.5%(+17.3% YoY)
11 filers
Vanguard, iShares, SPDR
Market makers
0.6%(+0.5% YoY)
7 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| FMR LLC | $155M | $19.67 | +$80.0M | +$155M | -0.0% | $1.89T |
| Paradigm Biocapital Advisors LP | $120M | $9.91 | +$7.1M | +$19.1M | +1.9% | $4.69B |
| Bain Capital Life Sciences Investors, LLC | $111M | $9.32 | −$15.4M | +$9.4M | -0.4% | $1.11B |
| JANUS HENDERSON GROUP PLC | $106M | $14.11 | +$5.9M | +$106M | +1.2% | $209.29B |
| BlackRock, Inc.Passive | $84.3M | $12.76 | +$1.3M | +$27.3M | -0.2% | $5.69T |
| BVF INC/IL | $79.0M | $11.39 | +$0 | +$0 | -0.3% | $3.14B |
| Siren, L.L.C. | $70.9M | $21.91 | +$21.7M | +$70.9M | +6.2% | $3.61B |
| STATE STREET CORPPassive | $58.7M | $13.94 | +$30.6M | +$45.8M | -0.2% | $2.89T |
| Cormorant Asset Management, LLC | $58.1M | $11.77 | +$17.1M | +$58.1M | -2.4% | $1.95B |
| Logos Global Management LP | $47.8M | $14.03 | +$0 | +$0 | -1.7% | $1.94B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $46.0M | $14.91 | +$46.0M | +$46.0M | — | $4.04T |
| RA CAPITAL MANAGEMENT, L.P. | $38.8M | $25.00 | +$0 | +$38.8M | -4.4% | $9.44B |
| JENNISON ASSOCIATES LLC | $27.2M | $20.25 | +$12.8M | +$27.2M | +2.7% | $145.31B |
| Polar Capital Holdings Plc | $23.9M | $15.47 | +$3.3M | +$23.9M | +1.5% | $22.76B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $23.0M | $9.54 | +$4.3M | +$6.9M | +2.3% | $1.61T |
| Defilade Capital Management, L.P. | $22.4M | $23.19 | +$4.0M | +$22.4M | +3.7% | $680M |
| Woodline Partners LP | $22.1M | $6.72 | +$1K | +$61K | -0.1% | $26.43B |
| Lightspeed Management Company, L.L.C. | $20.2M | $5.83 | −$8.6M | −$8.6M | -7.4% | $988M |
| FRANKLIN RESOURCES INC | $18.2M | $3.94 | −$18.8M | −$26.7M | -0.2% | $403.03B |
| MORGAN STANLEY | $18.1M | $8.46 | +$8.2M | +$11.4M | -0.3% | $1.65T |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
+0.21%
avg per quarter
Holders (ex-self)
+0.17%
excl. this stock
Buyers (this Q)
+0.62%
74 buyers · $0.19B in
Sellers (this Q)
-0.97%
54 sellers · $0.32B out
alpha coverage: 96% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-2.4%
how holders react when this stock falls
On quiet Qs
+29.2%
−10% to +10% baseline
On rallies (+10%+)
+0.4%
how they react when this stock rises
Holders' portfolio flow this Q
+1.8%
inflows — adds are organic
Sellers' portfolio flow this Q
+1.0%
Sellers' overall flow ~ flat.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-3.4%
Holder mid (any stock)
-2.2%
Holder rally (any stock)
-4.6%
Biggest decreases this quarter
SAMLYN CAPITAL, LLCexited−$26.7MFRANKLIN RESOURCES INC−$18.8Mα-0.2Bain Capital Life Sciences Investors, LLC−$15.4Mα-0.4EVENTIDE ASSET MANAGEMENT, LLCexited−$14.2MHolocene Advisors, LPexited−$12.7MMARSHALL WACE, LLPexited−$9.0MLightspeed Management Company, L.L.C.−$8.6Mα-7.4Skandinaviska Enskilda Banken AB (publ)exited−$7.0MCatalio Capital Management, LPexited−$6.7MSILVERARC CAPITAL MANAGEMENT, LLCexited−$5.2M
New buyers this quarter
Top-5 holders · 38.1%
FMR LLC--
Paradigm Biocapital Advisors LP--
Bain Capital Life Sciences Investors, LLC--
JANUS HENDERSON GROUP PLC--
BlackRock, Inc.--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
Bain Capital Life Sciences Investors, LLC7.5MParadigm Biocapital Advisors LP8.0MBVF INC/IL5.3MJANUS HENDERSON GROUP PLC7.1MFMR LLC10.4MLogos Global Management LP3.2MCormorant Asset Management, LLC3.9MSiren, L.L.C.4.8MRA CAPITAL MANAGEMENT, L.P.2.6MFRANKLIN RESOURCES INC1.2M
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Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (2 analysts)$36.5017670.0%
Last Year (14 analysts)$37.8618700.0%
Current Price$13.19
Analyst Ratings
8
Buy: 8Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Sells ($, 12mo)
$24.65M
17 txns · 6 insiders · 880,501 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-03-04 | SELL | Mitchell Shawnte | officer: CHIEF LEGAL OFFICER | 25,000 | $24.25 | $606K | $0 |
| 2026-03-03 | SELL | Mitchell Shawnte | officer: CHIEF LEGAL OFFICER | 15,000 | $23.01 | $345K | $0 |
| 2026-01-20 | SELL | Harmon Cyrus | director | 10,000 | $26.88 | $269K | $19.56M |
| 2026-01-15 | SELL | Kovacs Shane William Charles | officer: CH. OPERATING & FINANCIAL OFF. | 100,000 | $28.73 | $2.87M | $4.01M |
| 2026-01-14 | SELL | Harmon Cyrus | director | 3,489 | $29.12 | $102K | $21.48M |
| 2026-01-14 | SELL | Myles David C. | officer: CH. DISCOV. & NON-CLIN DEV OFF | 50,000 | $28.87 | $1.44M | $15.67M |
| 2026-01-13 | SELL | Kovacs Shane William Charles | officer: CH. OPERATING & FINANCIAL OFF. | 3,822 | $28.01 | $107K | $6.71M |
| 2026-01-13 | SELL | Myles David C. | officer: CH. DISCOV. & NON-CLIN DEV OFF | 50,000 | $27.60 | $1.38M | $14.98M |
| 2026-01-12 | SELL | Myles David C. | officer: CH. DISCOV. & NON-CLIN DEV OFF | 10,000 | $28.34 | $283K | $4.10M |
| 2025-12-23 | SELL | Zojwalla Naseem | officer: Chief Medical Officer | 99,509 | $27.66 | $2.75M | $124K |
| 2025-12-22 | SELL | Harmon Cyrus | director | 2,881 | $28.53 | $82K | $21.15M |
| 2025-12-22 | SELL | Zojwalla Naseem | officer: Chief Medical Officer | 100,000 | $28.04 | $2.80M | $1.51M |
| 2025-12-19 | SELL | CLARK IAN T | director | 264,800 | $29.73 | $7.87M | $0 |
| 2025-12-19 | SELL | Myles David C. | officer: CH. DISCOV. & NON-CLIN DEV OFF | 51,000 | $30.46 | $1.55M | $16.81M |
| 2025-12-19 | SELL | Zojwalla Naseem | officer: Chief Medical Officer | 70,000 | $28.20 | $1.97M | $2.93M |
| 2025-09-18 | SELL | Harmon Cyrus | director | 13,086 | $8.33 | $109K | $975K |
| 2025-09-16 | SELL | Harmon Cyrus | director | 11,914 | $8.05 | $96K | $966K |
Order Flow (FINRA, ~3w lag)
11.3%retail-4.6pp
24.8%dark-0.1pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Olema Pharmaceuticals: A High-Burn Oncology Bet Encumbered by a $275 Million Novartis Contingency
Overall Risk
6/10
Fraud
3/10
Dilution
8/10
Insolvency
4/10
Earnings Overstated
2/10
Hidden Liabilities
7/10
Legal
4/10
Audit Warnings
3/10
Hidden Upside
6/10
Contextually Acceptable
7/10