Olema Pharmaceuticals (NASDAQ:OLMA) Director Cyrus Harmon Sells 2,881 Shares

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Cyrus Harmon sold 2,881 shares of Olema Pharmaceuticals stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $28.53, for a total transaction of $82,194.93. Following the sale, the director owned 741,259 shares of the company’s stock, valued at approximately $21,148,119.27. The trade was a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Olema Pharmaceuticals Stock Down 2.2%

Shares of NASDAQ:OLMA opened at $25.07 on Wednesday. The company has a market capitalization of $1.72 billion, a P/E ratio of -13.41 and a beta of 1.87. Olema Pharmaceuticals, Inc. has a 52-week low of $2.86 and a 52-week high of $36.26. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $20.31 and its 200-day simple moving average is $11.34.

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

Institutional Trading of Olema Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. lifted its holdings in Olema Pharmaceuticals by 55.4% during the second quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock worth $26,000 after acquiring an additional 2,168 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Olema Pharmaceuticals by 602.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company’s stock worth $29,000 after purchasing an additional 5,866 shares in the last quarter. FNY Investment Advisers LLC raised its position 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 in the last quarter. Quarry LP bought a new position in Olema Pharmaceuticals during the first quarter worth about $45,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Olema Pharmaceuticals during the 3rd quarter worth approximately $53,000. Institutional investors own 91.78% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on OLMA. Guggenheim started coverage on Olema Pharmaceuticals in a research note on Wednesday, October 8th. They set a “buy” rating and a $20.00 price objective for the company. The Goldman Sachs Group increased their target price on shares of Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Zacks Research upgraded Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 9th. Oppenheimer increased their target price on shares of Olema Pharmaceuticals from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Finally, Citigroup increased their price target on Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a report on Friday, December 12th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.50.

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.