Insider Selling: Olema Pharmaceuticals (NASDAQ:OLMA) Insider Sells 10,000 Shares of Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) insider David Myles sold 10,000 shares of the firm’s stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $28.34, for a total value of $283,400.00. Following the completion of the transaction, the insider owned 144,846 shares of the company’s stock, valued at approximately $4,104,935.64. This represents a 6.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Olema Pharmaceuticals Price Performance

Shares of OLMA traded up $0.88 during midday trading on Wednesday, hitting $28.77. 1,326,874 shares of the company traded hands, compared to its average volume of 1,576,889. Olema Pharmaceuticals, Inc. has a one year low of $2.86 and a one year high of $36.26. The firm has a market cap of $1.98 billion, a P/E ratio of -15.38 and a beta of 1.92. 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 stock has a 50-day moving average of $24.28 and a 200-day moving average of $13.00.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.05). As a group, sell-side analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Olema Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Kingdon Capital Management L.L.C. bought a new stake in Olema Pharmaceuticals in the 3rd quarter worth approximately $8,361,000. Ameriprise Financial Inc. raised its stake in shares of Olema Pharmaceuticals by 193.4% during the second quarter. Ameriprise Financial Inc. now owns 1,172,863 shares of the company’s stock worth $4,996,000 after acquiring an additional 773,064 shares in the last quarter. Candriam S.C.A. lifted its holdings in shares of Olema Pharmaceuticals by 46.9% in the 3rd quarter. Candriam S.C.A. now owns 1,249,727 shares of the company’s stock worth $12,235,000 after acquiring an additional 399,273 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Olema Pharmaceuticals by 93.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock worth $2,787,000 after acquiring an additional 358,412 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Olema Pharmaceuticals by 4,450.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 299,619 shares of the company’s stock valued at $2,933,000 after purchasing an additional 293,034 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OLMA. Oppenheimer increased their price objective on Olema Pharmaceuticals from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. HC Wainwright raised their price target on Olema Pharmaceuticals from $36.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. boosted their price objective on Olema Pharmaceuticals from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, November 18th. The Goldman Sachs Group upped their price objective 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Wednesday, October 8th. Eight equities research 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

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.