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 stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $26.88, for a total value of $268,800.00. Following the completion of the transaction, the director directly owned 727,770 shares in the company, valued at $19,562,457.60. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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 value of $101,599.68.
• On Monday, December 22nd, Cyrus Harmon sold 2,881 shares of Olema Pharmaceuticals stock. The stock was sold at an average price of $28.53, for a total value of $82,194.93.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ:OLMA opened at $26.42 on Friday. Olema Pharmaceuticals, Inc. has a twelve month low of $2.86 and a twelve month high of $36.26. The company’s 50 day moving average is $26.55 and its 200 day moving average is $13.89. The company has a current ratio of 8.03, a quick ratio of 8.03 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.81 billion, a PE ratio of -14.13 and a beta of 1.92.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced 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). On average, sell-side analysts forecast that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on OLMA. Guggenheim started coverage on shares of Olema Pharmaceuticals in a report on Wednesday, October 8th. They issued a “buy” rating and a $20.00 price target on the stock. Citigroup boosted their price objective on Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a report on Friday, December 12th. Piper Sandler assumed coverage on Olema Pharmaceuticals in a research note on Wednesday, January 7th. They issued an “overweight” rating and a $40.00 target price on the stock. Oppenheimer raised their target price on Olema Pharmaceuticals from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, December 11th. Finally, JPMorgan Chase & Co. boosted their price target on Olema Pharmaceuticals from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, November 18th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Olema Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Institutional Investors Weigh In On Olema Pharmaceuticals

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

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.