Insider Selling: Olema Pharmaceuticals (NASDAQ:OLMA) Director Sells $7,872,504.00 in Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Ian Clark sold 264,800 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $29.73, for a total value of $7,872,504.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Olema Pharmaceuticals Price Performance

OLMA opened at $27.34 on Friday. The stock’s 50 day moving average price is $19.28 and its 200-day moving average price is $10.80. Olema Pharmaceuticals, Inc. has a 52-week low of $2.86 and a 52-week high of $36.26. The stock has a market capitalization of $1.88 billion, a PE ratio of -14.62 and a beta of 1.87. 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 released its quarterly earnings results on Monday, November 10th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.05). On average, equities research analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Institutional Trading of Olema Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings in Olema Pharmaceuticals by 4.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 349,023 shares of the company’s stock worth $1,312,000 after buying an additional 16,073 shares during the period. Deutsche Bank AG raised its holdings in Olema Pharmaceuticals by 38.1% during the first quarter. Deutsche Bank AG now owns 54,329 shares of the company’s stock valued at $204,000 after acquiring an additional 14,998 shares during the period. Invesco Ltd. lifted its position in shares of Olema Pharmaceuticals by 208.9% in the first quarter. Invesco Ltd. now owns 50,810 shares of the company’s stock valued at $191,000 after acquiring an additional 34,362 shares in the last quarter. Nuveen LLC bought a new position in shares of Olema Pharmaceuticals in the first quarter worth about $1,295,000. Finally, Hsbc Holdings PLC boosted its stake in shares of Olema Pharmaceuticals by 56.9% in the first quarter. Hsbc Holdings PLC now owns 15,698 shares of the company’s stock worth $58,000 after acquiring an additional 5,693 shares during the period. Institutional investors own 91.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on OLMA shares. Citigroup raised their target price on Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, December 12th. The Goldman Sachs Group upped their target price on shares of Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. HC Wainwright boosted their price objective on shares of Olema Pharmaceuticals from $36.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. UBS Group reissued a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, October 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Olema Pharmaceuticals Company Profile

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.