Olema Pharmaceuticals (NASDAQ:OLMA) Insider Sells $1,553,460.00 in Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) insider David Myles sold 51,000 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $30.46, for a total value of $1,553,460.00. Following the completion of the sale, the insider owned 551,881 shares of the company’s stock, valued at $16,810,295.26. This trade represents a 8.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Olema Pharmaceuticals Stock Down 1.2%

Shares of Olema Pharmaceuticals stock opened at $27.34 on Friday. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -14.62 and a beta of 1.87. Olema Pharmaceuticals, Inc. has a twelve month low of $2.86 and a twelve month high of $36.26. 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’s 50 day simple moving average is $19.28 and its 200-day simple moving average is $10.80.

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 analysts’ consensus estimates of ($0.44) by ($0.05). Equities research analysts forecast that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on OLMA shares. Zacks Research upgraded shares of Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Wednesday, October 8th. UBS Group restated a “buy” rating on shares of Olema Pharmaceuticals in a report on Monday, October 20th. The Goldman Sachs Group lifted their target price on Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Guggenheim assumed coverage on shares of Olema Pharmaceuticals in a report on Wednesday, October 8th. They issued a “buy” rating and a $20.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Olema Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $40.50.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of OLMA. Kingdon Capital Management L.L.C. purchased a new position in Olema Pharmaceuticals in the 3rd quarter worth about $8,361,000. Ameriprise Financial Inc. boosted its holdings in shares of Olema Pharmaceuticals by 193.4% in the second quarter. Ameriprise Financial Inc. now owns 1,172,863 shares of the company’s stock worth $4,996,000 after buying an additional 773,064 shares during the period. Candriam S.C.A. increased its position in shares of Olema Pharmaceuticals by 46.9% in the third quarter. Candriam S.C.A. now owns 1,249,727 shares of the company’s stock worth $12,235,000 after acquiring an additional 399,273 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Olema Pharmaceuticals by 93.6% during the first quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock valued at $2,787,000 after acquiring an additional 358,412 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Olema Pharmaceuticals in the 1st quarter valued at approximately $1,295,000. Institutional investors and hedge funds 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.