Insider Selling: Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Sells 15,000 Shares of Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Cyrus Harmon sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $9.51, for a total value of $142,650.00. Following the completion of the transaction, the director now directly owns 811,283 shares in the company, valued at approximately $7,715,301.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, March 28th, Cyrus Harmon sold 20,000 shares of Olema Pharmaceuticals stock. The stock was sold at an average price of $10.97, for a total value of $219,400.00.
• On Thursday, February 29th, Cyrus Harmon sold 25,000 shares of Olema Pharmaceuticals stock. The stock was sold at an average price of $12.41, for a total transaction of $310,250.00.

Olema Pharmaceuticals Stock Performance

NASDAQ OLMA opened at $10.67 on Friday. The business’s 50 day moving average price is $11.54 and its 200-day moving average price is $12.81. Olema Pharmaceuticals, Inc. has a fifty-two week low of $5.02 and a fifty-two week high of $17.79. The company has a market cap of $596.77 million, a P/E ratio of -4.97 and a beta of 2.10.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings data on Monday, March 11th. The company reported ($0.49) EPS for the quarter, hitting the consensus estimate of ($0.49). As a group, equities analysts predict that Olema Pharmaceuticals, Inc. will post -2.34 EPS for the current year.

Hedge Funds Weigh In On Olema Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its stake in Olema Pharmaceuticals by 66.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 10,562 shares of the company’s stock worth $120,000 after purchasing an additional 4,221 shares during the last quarter. Perceptive Advisors LLC purchased a new stake in shares of Olema Pharmaceuticals in the fourth quarter worth approximately $7,574,000. First Light Asset Management LLC bought a new stake in shares of Olema Pharmaceuticals during the 4th quarter worth approximately $8,854,000. Dimensional Fund Advisors LP boosted its holdings in Olema Pharmaceuticals by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,715,420 shares of the company’s stock valued at $24,069,000 after acquiring an additional 21,420 shares during the period. Finally, Jump Financial LLC bought a new position in Olema Pharmaceuticals in the 4th quarter valued at $279,000. 91.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on OLMA shares. Citigroup initiated coverage on Olema Pharmaceuticals in a report on Tuesday, January 30th. They set a “buy” rating and a $20.00 price target for the company. The Goldman Sachs Group started coverage on shares of Olema Pharmaceuticals in a report on Tuesday, April 2nd. They issued a “buy” rating and a $24.00 target price for the company. Finally, Capital One Financial reaffirmed an “overweight” rating on shares of Olema Pharmaceuticals in a research note on Thursday, February 22nd. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $21.43.

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.