David Myles Sells 51,000 Shares of Olema Pharmaceuticals (NASDAQ:OLMA) Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) insider David Myles sold 51,000 shares of the business’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $30.46, for a total value of $1,553,460.00. Following the completion of the transaction, the insider directly owned 551,881 shares of the company’s stock, valued at approximately $16,810,295.26. The trade was a 8.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Olema Pharmaceuticals Stock Down 1.8%

OLMA stock traded down $0.51 during trading on Tuesday, reaching $27.67. 1,493,222 shares of the company traded hands, compared to its average volume of 3,050,527. The business has a 50 day simple moving average of $18.58 and a 200 day simple moving average of $10.56. Olema Pharmaceuticals, Inc. has a 12 month low of $2.86 and a 12 month high of $36.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.03 and a current ratio of 8.03. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -14.80 and a beta of 1.87.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its earnings results on Monday, November 10th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). On average, equities research analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. grew its position in Olema Pharmaceuticals by 55.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock worth $26,000 after purchasing an additional 2,168 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Olema Pharmaceuticals by 602.9% in the second quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company’s stock worth $29,000 after buying an additional 5,866 shares during the last quarter. FNY Investment Advisers LLC grew its holdings in Olema Pharmaceuticals by 100.0% during the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $42,000 after acquiring an additional 5,000 shares during the period. Quarry LP acquired a new stake in Olema Pharmaceuticals during the first quarter worth about $45,000. Finally, Alpine Global Management LLC purchased a new position in Olema Pharmaceuticals during the first quarter valued at approximately $52,000. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OLMA has been the subject of several recent analyst reports. Oppenheimer raised their target price on shares of Olema Pharmaceuticals from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, December 11th. Citigroup boosted their price target on Olema Pharmaceuticals from $21.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. UBS Group reissued a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, October 20th. Zacks Research raised shares of Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 18th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.50.

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.