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 company’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $29.73, for a total value of $7,872,504.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Olema Pharmaceuticals Trading Down 1.8%

NASDAQ:OLMA traded down $0.51 during trading hours on Tuesday, hitting $27.67. The company had a trading volume of 1,493,222 shares, compared to its average volume of 3,050,527. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 8.03. The stock has a 50-day moving average price of $18.58 and a 200 day moving average price of $10.56. The company has a market capitalization of $1.90 billion, a PE ratio of -14.80 and a beta of 1.87. Olema Pharmaceuticals, Inc. has a 52 week low of $2.86 and a 52 week high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.49) EPS 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 fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of OLMA. Ameritas Investment Partners Inc. boosted its position in shares of 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 buying an additional 2,168 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in 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 acquiring an additional 5,866 shares during the period. FNY Investment Advisers LLC boosted its holdings 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 acquiring an additional 5,000 shares during the last quarter. Quarry LP bought a new stake in shares of Olema Pharmaceuticals in the first quarter worth approximately $45,000. Finally, Alpine Global Management LLC purchased a new position in shares of Olema Pharmaceuticals during the first quarter valued at approximately $52,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OLMA. Citigroup increased their target price on Olema Pharmaceuticals from $21.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Wednesday, October 8th. 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 lifted their price target on shares of Olema Pharmaceuticals from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Zacks Research raised shares of Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Olema Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average 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.