Olema Pharmaceuticals (NASDAQ:OLMA) Stock Price Down 3.2% on Insider Selling

Olema Pharmaceuticals, Inc. (NASDAQ:OLMAGet Free Report)’s share price traded down 3.2% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $13.22 and last traded at $13.54. 73,356 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 859,982 shares. The stock had previously closed at $13.99.

Specifically, Director Cyrus Harmon sold 20,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $10.97, for a total value of $219,400.00. Following the completion of the transaction, the director now directly owns 826,283 shares of the company’s stock, valued at $9,064,324.51. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 60,000 shares of company stock valued at $612,450 in the last ninety days. Insiders own 19.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on OLMA. The Goldman Sachs Group began coverage on shares of Olema Pharmaceuticals in a research report on Tuesday, April 2nd. They set a “buy” rating and a $24.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Tuesday. Finally, Capital One Financial reiterated an “overweight” rating on shares of Olema Pharmaceuticals in a research report on Thursday, February 22nd. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $22.00.

Get Our Latest Stock Report on Olema Pharmaceuticals

Olema Pharmaceuticals Stock Down 0.5 %

The stock has a market cap of $778.55 million, a price-to-earnings ratio of -6.89 and a beta of 2.05. The stock’s fifty day moving average is $10.40 and its 200-day moving average is $12.17.

Olema Pharmaceuticals (NASDAQ:OLMAGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.03). As a group, equities research analysts predict that Olema Pharmaceuticals, Inc. will post -2.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in OLMA. Public Employees Retirement System of Ohio acquired a new stake in Olema Pharmaceuticals in the third quarter valued at $35,000. China Universal Asset Management Co. Ltd. acquired a new stake in Olema Pharmaceuticals in the fourth quarter valued at $89,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Olema Pharmaceuticals in the fourth quarter valued at $130,000. Entropy Technologies LP acquired a new stake in Olema Pharmaceuticals in the first quarter valued at $161,000. Finally, EntryPoint Capital LLC lifted its stake in Olema Pharmaceuticals by 949.9% in the first quarter. EntryPoint Capital LLC now owns 14,530 shares of the company’s stock valued at $164,000 after acquiring an additional 13,146 shares during the last quarter. Institutional investors and hedge funds own 91.78% of the company’s stock.

About Olema Pharmaceuticals

(Get Free Report)

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.

Further Reading

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