Olema Pharmaceuticals (NASDAQ:OLMA) Insider David Myles Sells 10,000 Shares of Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) insider David Myles sold 10,000 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $28.34, for a total transaction of $283,400.00. Following the sale, the insider directly owned 144,846 shares in the company, valued at $4,104,935.64. This represents a 6.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Olema Pharmaceuticals Trading Up 3.2%

Shares of OLMA stock opened at $28.77 on Thursday. Olema Pharmaceuticals, Inc. has a fifty-two week low of $2.86 and a fifty-two week high of $36.26. The company has a 50 day moving average price of $24.28 and a 200 day moving average price of $13.00. The stock has a market capitalization of $1.98 billion, a P/E ratio of -15.38 and a beta of 1.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.03 and a current ratio of 8.03.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued 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). Equities research analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Citigroup increased their price target on Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, December 12th. 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 report on Tuesday, November 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Wednesday, October 8th. The Goldman Sachs Group increased their price objective on shares of Olema Pharmaceuticals from $26.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, UBS Group assumed coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, January 7th. They set a “buy” rating and a $45.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Olema Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Hedge Funds Weigh In On Olema Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. lifted its position in shares of Olema Pharmaceuticals by 55.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,080 shares of the company’s stock worth $26,000 after buying an additional 2,168 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Olema Pharmaceuticals by 602.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company’s stock valued at $29,000 after buying an additional 5,866 shares during the last quarter. FNY Investment Advisers LLC raised its stake in Olema Pharmaceuticals by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $42,000 after acquiring an additional 5,000 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Olema Pharmaceuticals in the third quarter valued at $53,000. Finally, American Century Companies Inc. acquired a new position in Olema Pharmaceuticals in the second quarter valued at $54,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

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.