Olema Pharmaceuticals (NASDAQ:OLMA) Insider David Myles Sells 10,000 Shares

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) insider David Myles sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $28.34, for a total value of $283,400.00. Following the completion of the transaction, the insider owned 144,846 shares in the company, valued at $4,104,935.64. The trade was a 6.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Olema Pharmaceuticals Stock Performance

Shares of OLMA stock traded up $0.88 during trading on Wednesday, hitting $28.77. The company’s stock had a trading volume of 1,326,874 shares, compared to its average volume of 1,576,889. The company has a market cap of $1.98 billion, a PE ratio of -15.38 and a beta of 1.92. 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 business has a fifty day moving average of $24.28 and a 200-day moving average of $13.00. Olema Pharmaceuticals, Inc. has a 52 week low of $2.86 and a 52 week high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). As a group, research analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

OLMA has been the topic of a number of research analyst reports. Oppenheimer boosted their price target on shares of Olema Pharmaceuticals from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, December 11th. Piper Sandler began coverage on shares of Olema Pharmaceuticals in a research note on Wednesday, January 7th. They issued an “overweight” rating and a $40.00 target price on the stock. Guggenheim initiated coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, October 8th. They set a “buy” rating and a $20.00 target price for the company. The Goldman Sachs Group lifted their price target on shares of Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, UBS Group began coverage on Olema Pharmaceuticals in a research note on Wednesday, January 7th. They issued a “buy” rating and a $45.00 price objective on the stock. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Hedge Funds Weigh In On Olema Pharmaceuticals

Large investors have recently modified their holdings of the business. Russell Investments Group Ltd. bought a new stake in shares of Olema Pharmaceuticals in the third quarter valued at approximately $53,000. Ameritas Investment Partners Inc. grew its stake in Olema Pharmaceuticals by 55.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock valued at $26,000 after buying an additional 2,168 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Olema Pharmaceuticals by 602.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company’s stock valued at $29,000 after acquiring an additional 5,866 shares during the period. FNY Investment Advisers LLC raised its holdings in Olema Pharmaceuticals by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $42,000 after acquiring an additional 5,000 shares during the period. Finally, American Century Companies Inc. purchased a new stake in shares of Olema Pharmaceuticals during the second quarter worth $54,000. 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.