Insider Selling: 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 firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $30.46, for a total transaction of $1,553,460.00. Following the sale, the insider owned 551,881 shares in the company, valued at approximately $16,810,295.26. This represents a 8.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Olema Pharmaceuticals Price Performance

Shares of OLMA stock traded down $0.51 during mid-day trading on Tuesday, hitting $27.67. 1,493,222 shares of the stock were exchanged, compared to its average volume of 3,050,527. Olema Pharmaceuticals, Inc. has a 52-week low of $2.86 and a 52-week high of $36.26. 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 company has a market cap of $1.90 billion, a PE ratio of -14.80 and a beta of 1.87. The firm has a fifty day moving average of $18.58 and a 200 day moving average of $10.56.

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). Research analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OLMA. Oppenheimer increased their target price on Olema Pharmaceuticals from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, December 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Wednesday, October 8th. The Goldman Sachs Group upped their price target 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. Guggenheim initiated coverage on shares of Olema Pharmaceuticals in a research note on Wednesday, October 8th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Zacks Research upgraded 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 assigned a Sell rating to the company. According to MarketBeat.com, Olema Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.50.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of OLMA. Kingdon Capital Management L.L.C. purchased a new stake in Olema Pharmaceuticals in the 3rd quarter valued at about $8,361,000. Ameriprise Financial Inc. boosted its stake in Olema Pharmaceuticals by 193.4% during 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. boosted its stake in Olema Pharmaceuticals by 46.9% during the third quarter. Candriam S.C.A. now owns 1,249,727 shares of the company’s stock worth $12,235,000 after buying an additional 399,273 shares during the period. Goldman Sachs Group Inc. increased its position 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 last quarter. Finally, Nuveen LLC acquired a new stake in shares of Olema Pharmaceuticals during the first quarter valued at about $1,295,000. 91.78% of the stock is currently owned by institutional investors and hedge funds.

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.