Olema Pharmaceuticals (NASDAQ:OLMA) Insider Sells 70,000 Shares

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) insider Naseem Zojwalla sold 70,000 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $28.20, for a total transaction of $1,974,000.00. Following the completion of the sale, the insider directly owned 103,997 shares in the company, valued at approximately $2,932,715.40. This trade represents a 40.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Naseem Zojwalla also recently made the following trade(s):

• On Tuesday, December 23rd, Naseem Zojwalla sold 99,509 shares of Olema Pharmaceuticals stock. The stock was sold at an average price of $27.66, for a total transaction of $2,752,418.94.
• On Monday, December 22nd, Naseem Zojwalla sold 100,000 shares of Olema Pharmaceuticals stock. The shares were sold at an average price of $28.04, for a total transaction of $2,804,000.00.

Olema Pharmaceuticals Stock Performance

OLMA stock traded down $0.51 during midday trading on Tuesday, reaching $27.67. 1,493,222 shares of the company’s stock traded hands, compared to its average volume of 3,050,527. The firm has a market capitalization of $1.90 billion, a PE ratio of -14.80 and a beta of 1.87. The company has a 50-day moving average price of $18.58 and a two-hundred day moving average price of $10.56. Olema Pharmaceuticals, Inc. has a 52 week low of $2.86 and a 52 week high of $36.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.03 and a current ratio of 8.03.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted 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, equities analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OLMA. UBS Group reiterated a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, October 20th. JPMorgan Chase & Co. boosted their price objective on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Citigroup upped their target price on shares of Olema Pharmaceuticals from $21.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, December 12th. The Goldman Sachs Group raised their price target on shares of Olema Pharmaceuticals from $26.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.50.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. raised its position in Olema Pharmaceuticals by 55.4% during the second quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock valued at $26,000 after purchasing an additional 2,168 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of 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 purchasing an additional 5,866 shares during the last quarter. FNY Investment Advisers LLC increased its position in shares of 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 purchasing an additional 5,000 shares during the last quarter. Quarry LP purchased a new position in shares of Olema Pharmaceuticals during the 1st quarter valued at about $45,000. Finally, Alpine Global Management LLC bought a new stake in Olema Pharmaceuticals in the 1st quarter worth approximately $52,000. 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.