Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Cyrus Harmon Sells 8,256 Shares

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Cyrus Harmon sold 8,256 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $9.37, for a total value of $77,358.72. Following the sale, the director now owns 772,277 shares of the company’s stock, valued at approximately $7,236,235.49. This represents a 1.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Olema Pharmaceuticals Price Performance

NASDAQ OLMA opened at $8.41 on Thursday. The stock’s fifty day moving average price is $10.89 and its 200 day moving average price is $11.91. Olema Pharmaceuticals, Inc. has a 1 year low of $7.68 and a 1 year high of $16.77. The company has a market cap of $481.88 million, a price-to-earnings ratio of -3.84 and a beta of 1.92.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Ensign Peak Advisors Inc increased its position in shares of Olema Pharmaceuticals by 6.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 14,849 shares of the company’s stock valued at $161,000 after acquiring an additional 850 shares during the period. California State Teachers Retirement System increased its position in shares of Olema Pharmaceuticals by 3.4% in the 1st quarter. California State Teachers Retirement System now owns 34,695 shares of the company’s stock valued at $393,000 after acquiring an additional 1,132 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Olema Pharmaceuticals by 6.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,251 shares of the company’s stock valued at $298,000 after acquiring an additional 1,486 shares during the period. ClariVest Asset Management LLC increased its position in shares of Olema Pharmaceuticals by 3.1% in the 2nd quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company’s stock valued at $683,000 after acquiring an additional 1,881 shares during the period. Finally, EP Wealth Advisors LLC increased its position in shares of Olema Pharmaceuticals by 5.2% in the 3rd quarter. EP Wealth Advisors LLC now owns 48,655 shares of the company’s stock valued at $581,000 after acquiring an additional 2,407 shares during the period. 91.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Olema Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $27.00.

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.