Olema Pharmaceuticals (NASDAQ:OLMA) Director Sells $7,872,504.00 in Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Ian Clark sold 264,800 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $29.73, for a total value of $7,872,504.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Olema Pharmaceuticals Stock Performance

Shares of OLMA traded down $0.51 during mid-day trading on Tuesday, hitting $27.67. The stock had a trading volume of 1,493,222 shares, compared to its average volume of 3,050,527. Olema Pharmaceuticals, Inc. has a 52 week low of $2.86 and a 52 week high of $36.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 8.03. The business has a fifty day moving average price of $18.58 and a 200-day moving average price of $10.56. The firm has a market cap of $1.90 billion, a P/E ratio of -14.80 and a beta of 1.87.

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

Institutional Trading of Olema Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Susquehanna International Group LLP grew its holdings in Olema Pharmaceuticals by 20.6% in the 3rd quarter. Susquehanna International Group LLP now owns 112,277 shares of the company’s stock worth $1,099,000 after acquiring an additional 19,182 shares during the last quarter. Quarry LP purchased a new stake in shares of Olema Pharmaceuticals during the third quarter worth about $184,000. Paradigm Biocapital Advisors LP grew its stake in shares of Olema Pharmaceuticals by 0.4% in the third quarter. Paradigm Biocapital Advisors LP now owns 6,794,172 shares of the company’s stock worth $66,515,000 after purchasing an additional 30,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Olema Pharmaceuticals during the 3rd quarter valued at about $268,000. Finally, Kingdon Capital Management L.L.C. bought a new position in Olema Pharmaceuticals during the 3rd quarter valued at approximately $8,361,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Analysts Set New Price Targets

OLMA has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, November 18th. UBS Group reiterated a “buy” rating on shares of Olema Pharmaceuticals in a research note on Monday, October 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Wednesday, October 8th. Oppenheimer raised their target price on Olema Pharmaceuticals from $45.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. Finally, Citigroup upped their price target on Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.