Cyrus Harmon Sells 5,000 Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Cyrus Harmon sold 5,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $10.92, for a total value of $54,600.00. Following the completion of the sale, the director now owns 806,283 shares of the company’s stock, valued at approximately $8,804,610.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cyrus Harmon also recently made the following trade(s):

• On Tuesday, April 30th, Cyrus Harmon sold 15,000 shares of Olema Pharmaceuticals stock. The stock was sold at an average price of $9.51, for a total value of $142,650.00.
• On Thursday, March 28th, Cyrus Harmon sold 20,000 shares of Olema Pharmaceuticals stock. The stock was sold at an average price of $10.97, for a total value of $219,400.00.
• On Thursday, February 29th, Cyrus Harmon sold 25,000 shares of Olema Pharmaceuticals stock. The shares were sold at an average price of $12.41, for a total value of $310,250.00.

Olema Pharmaceuticals Stock Up 3.1 %

NASDAQ:OLMA traded up $0.34 during trading hours on Tuesday, hitting $11.24. 670,592 shares of the stock traded hands, compared to its average volume of 775,799. The company has a market cap of $628.65 million, a price-to-earnings ratio of -5.20 and a beta of 2.10. The stock has a 50 day moving average price of $11.44 and a 200 day moving average price of $12.84. Olema Pharmaceuticals, Inc. has a 1 year low of $5.02 and a 1 year high of $17.79.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Monday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.49). Equities analysts forecast that Olema Pharmaceuticals, Inc. will post -2.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Olema Pharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. purchased a new stake in shares of Olema Pharmaceuticals during the 3rd quarter valued at approximately $784,000. MPM Bioimpact LLC raised its holdings in shares of Olema Pharmaceuticals by 301.7% in the third quarter. MPM Bioimpact LLC now owns 1,857,681 shares of the company’s stock valued at $22,942,000 after buying an additional 1,395,181 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Olema Pharmaceuticals by 2.2% during the third quarter. Vanguard Group Inc. now owns 1,710,307 shares of the company’s stock worth $21,122,000 after acquiring an additional 36,785 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in Olema Pharmaceuticals by 68.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 388,982 shares of the company’s stock worth $4,804,000 after acquiring an additional 157,549 shares during the period. Finally, China Universal Asset Management Co. Ltd. acquired a new position in Olema Pharmaceuticals during the fourth quarter worth about $89,000. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. The Goldman Sachs Group initiated coverage on Olema Pharmaceuticals in a research report on Tuesday, April 2nd. They set a “buy” rating and a $24.00 price objective for the company. Capital One Financial reaffirmed an “overweight” rating on shares of Olema Pharmaceuticals in a report on Thursday, February 22nd. Finally, Citigroup started coverage on shares of Olema Pharmaceuticals in a report on Tuesday, January 30th. They issued a “buy” rating and a $20.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $21.43.

Olema Pharmaceuticals Company Profile

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.