Olema Pharmaceuticals (NASDAQ:OLMA) Insider Sells $2,752,418.94 in Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) insider Naseem Zojwalla sold 99,509 shares of Olema Pharmaceuticals stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $27.66, for a total transaction of $2,752,418.94. Following the sale, the insider owned 4,488 shares in the company, valued at approximately $124,138.08. This trade represents a 95.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, December 19th, Naseem Zojwalla sold 70,000 shares of Olema Pharmaceuticals stock. The stock was sold at an average price of $28.20, for a total transaction of $1,974,000.00.
• 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 transaction of $2,804,000.00.

Olema Pharmaceuticals Stock Down 1.2%

NASDAQ OLMA opened at $27.34 on Friday. Olema Pharmaceuticals, Inc. has a 1-year low of $2.86 and a 1-year high of $36.26. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -14.62 and a beta of 1.87. The stock’s 50 day moving average is $19.28 and its two-hundred day moving average is $10.80. The company has a current ratio of 8.03, a quick ratio of 8.03 and a debt-to-equity ratio of 0.01.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its 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). Equities analysts forecast that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Olema Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Kingdon Capital Management L.L.C. bought a new position in Olema Pharmaceuticals in the third quarter valued at about $8,361,000. Ameriprise Financial Inc. lifted its position in Olema Pharmaceuticals by 193.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,172,863 shares of the company’s stock valued at $4,996,000 after purchasing an additional 773,064 shares during the period. Candriam S.C.A. boosted its stake in shares of Olema Pharmaceuticals by 46.9% in the 3rd quarter. Candriam S.C.A. now owns 1,249,727 shares of the company’s stock valued at $12,235,000 after purchasing an additional 399,273 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Olema Pharmaceuticals by 93.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock worth $2,787,000 after buying an additional 358,412 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Olema Pharmaceuticals during the first quarter worth approximately $1,295,000. Institutional investors own 91.78% of the company’s stock.

Wall Street Analyst Weigh In

OLMA has been the subject of several analyst reports. Zacks Research raised shares of Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 9th. HC Wainwright lifted their price objective on Olema Pharmaceuticals from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Citigroup boosted their price objective on Olema Pharmaceuticals from $21.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research note on Wednesday, October 8th. Finally, UBS Group reiterated a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, October 20th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.50.

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.