Olema Pharmaceuticals (NASDAQ:OLMA) Insider Sells $1,974,000.00 in Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) insider Naseem Zojwalla sold 70,000 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $28.20, for a total value of $1,974,000.00. Following the completion of the transaction, the insider directly owned 103,997 shares in the company, valued at approximately $2,932,715.40. The trade was a 40.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

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

Olema Pharmaceuticals Price Performance

NASDAQ OLMA opened at $27.34 on Friday. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.01. 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 50 day moving average price of $19.28 and a two-hundred day moving average price of $10.80. Olema Pharmaceuticals, Inc. has a 12-month low of $2.86 and a 12-month high of $36.26.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Wednesday, October 8th. The Goldman Sachs Group upped their target price on Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Guggenheim initiated coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, October 8th. They issued a “buy” rating and a $20.00 price target on the stock. JPMorgan Chase & Co. raised their target price 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. Finally, HC Wainwright boosted their target price on shares of Olema Pharmaceuticals from $36.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Seven 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.50.

Institutional Trading of Olema Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Persistent Asset Partners Ltd lifted its position in Olema Pharmaceuticals by 153.8% in the second quarter. Persistent Asset Partners Ltd now owns 58,333 shares of the company’s stock worth $248,000 after purchasing an additional 35,345 shares during the period. Titleist Asset Management LLC bought a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth about $64,000. Diadema Partners LP boosted its position in shares of Olema Pharmaceuticals by 153.7% during the 2nd quarter. Diadema Partners LP now owns 253,657 shares of the company’s stock valued at $1,081,000 after acquiring an additional 153,657 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Olema Pharmaceuticals by 93.6% in 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 acquired a new position in Olema Pharmaceuticals in the first quarter worth about $1,295,000. 91.78% of the stock is currently owned by institutional investors.

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.