Insider Selling: Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Sells 8,256 Shares of Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Cyrus Harmon sold 8,256 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $9.37, for a total transaction of $77,358.72. Following the transaction, the director now directly owns 772,277 shares in the company, valued at $7,236,235.49. This trade represents a 1.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Olema Pharmaceuticals Price Performance

Shares of OLMA stock traded down $1.23 on Wednesday, hitting $8.41. The stock had a trading volume of 2,119,334 shares, compared to its average volume of 740,302. The business has a 50 day moving average of $10.97 and a 200 day moving average of $11.94. Olema Pharmaceuticals, Inc. has a 12-month low of $7.68 and a 12-month high of $16.77. The stock has a market cap of $481.88 million, a price-to-earnings ratio of -4.05 and a beta of 1.92.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Wednesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $27.00.

Institutional Investors Weigh In On Olema Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in OLMA. Point72 Asset Management L.P. grew its holdings in shares of Olema Pharmaceuticals by 14.8% in the third quarter. Point72 Asset Management L.P. now owns 3,687,374 shares of the company’s stock valued at $44,027,000 after acquiring an additional 475,447 shares in the last quarter. State Street Corp lifted its holdings in Olema Pharmaceuticals by 1.1% during the third quarter. State Street Corp now owns 1,969,963 shares of the company’s stock worth $23,521,000 after acquiring an additional 21,986 shares during the period. Candriam S.C.A. grew its stake in Olema Pharmaceuticals by 199.9% in the 2nd quarter. Candriam S.C.A. now owns 1,058,673 shares of the company’s stock valued at $11,454,000 after purchasing an additional 705,655 shares during the period. Wellington Management Group LLP grew its stake in Olema Pharmaceuticals by 10.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,002,685 shares of the company’s stock valued at $11,972,000 after purchasing an additional 97,428 shares during the period. Finally, Great Point Partners LLC increased its position in shares of Olema Pharmaceuticals by 25.5% during the 3rd quarter. Great Point Partners LLC now owns 1,000,000 shares of the company’s stock valued at $11,940,000 after purchasing an additional 203,120 shares during the last quarter. Hedge funds and other institutional investors own 91.78% of the company’s stock.

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.