Cyrus Harmon Sells 10,000 Shares of Olema Pharmaceuticals (NASDAQ:OLMA) Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Cyrus Harmon sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $26.88, for a total transaction of $268,800.00. Following the transaction, the director owned 727,770 shares of the company’s stock, valued at approximately $19,562,457.60. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Cyrus Harmon also recently made the following trade(s):

• On Wednesday, January 14th, Cyrus Harmon sold 3,489 shares of Olema Pharmaceuticals stock. The stock was sold at an average price of $29.12, for a total transaction of $101,599.68.
• On Monday, December 22nd, Cyrus Harmon sold 2,881 shares of Olema Pharmaceuticals stock. The shares were sold at an average price of $28.53, for a total transaction of $82,194.93.

Olema Pharmaceuticals Price Performance

NASDAQ:OLMA traded down $0.43 during trading hours on Wednesday, reaching $26.29. 723,706 shares of the company’s stock were exchanged, compared to its average volume of 1,048,661. The company has a market capitalization of $1.81 billion, a P/E ratio of -14.06 and a beta of 1.92. Olema Pharmaceuticals, Inc. has a 12 month low of $2.86 and a 12 month 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 business’s 50-day simple moving average is $26.18 and its two-hundred day simple moving average is $13.80.

Olema Pharmaceuticals (NASDAQ:OLMA) last released 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). Sell-side analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Institutional Trading of Olema Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. raised its holdings in Olema Pharmaceuticals by 55.4% in the 2nd 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 during the period. Farther Finance Advisors LLC grew its position 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 valued at $29,000 after purchasing an additional 5,866 shares during the last quarter. FNY Investment Advisers LLC increased its stake in shares of Olema Pharmaceuticals by 100.0% in the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $42,000 after purchasing an additional 5,000 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Olema Pharmaceuticals in the third quarter worth about $53,000. Finally, American Century Companies Inc. acquired a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth about $54,000. Institutional investors and hedge funds own 91.78% of the company’s stock.

Wall Street Analyst Weigh In

OLMA has been the topic of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised 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. Piper Sandler assumed coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, January 7th. They set an “overweight” rating and a $40.00 price objective on the stock. UBS Group started coverage on shares of Olema Pharmaceuticals in a research note on Wednesday, January 7th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Guggenheim assumed coverage on Olema Pharmaceuticals in a research report on Wednesday, October 8th. They issued a “buy” rating and a $20.00 target price for the company. Eight equities 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $41.00.

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.