Olema Pharmaceuticals (NASDAQ:OLMA) Director Cyrus Harmon Sells 10,000 Shares

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Cyrus Harmon sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $26.88, for a total transaction of $268,800.00. Following the completion of the transaction, the director directly owned 727,770 shares of the company’s stock, valued at approximately $19,562,457.60. This trade represents a 1.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Cyrus Harmon also recently made the following trade(s):

• On Wednesday, January 14th, Cyrus Harmon sold 3,489 shares of Olema Pharmaceuticals stock. The stock was sold at an average price of $29.12, for a total transaction of $101,599.68.
• On Monday, December 22nd, Cyrus Harmon sold 2,881 shares of Olema Pharmaceuticals stock. The shares were sold at an average price of $28.53, for a total value of $82,194.93.

Olema Pharmaceuticals Price Performance

NASDAQ:OLMA opened at $26.29 on Thursday. Olema Pharmaceuticals, Inc. has a 52-week low of $2.86 and a 52-week high of $36.26. The company has a market cap of $1.81 billion, a P/E ratio of -14.06 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. The stock’s 50-day simple moving average is $26.18 and its 200 day simple moving average is $13.80.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted 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). As a group, sell-side analysts forecast that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its stake in Olema Pharmaceuticals by 14.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,764 shares of the company’s stock valued at $94,000 after purchasing an additional 477 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Olema Pharmaceuticals by 55.4% during the second 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 in the last quarter. ProShare Advisors LLC increased its holdings in Olema Pharmaceuticals by 21.1% in the 2nd quarter. ProShare Advisors LLC now owns 14,766 shares of the company’s stock valued at $63,000 after buying an additional 2,569 shares during the period. Bank of America Corp DE raised its position in shares of Olema Pharmaceuticals by 0.4% in the 3rd quarter. Bank of America Corp DE now owns 802,304 shares of the company’s stock valued at $7,855,000 after buying an additional 2,802 shares in the last quarter. Finally, FNY Investment Advisers LLC raised its position in shares of Olema Pharmaceuticals by 100.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $42,000 after buying an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 91.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on OLMA. JPMorgan Chase & Co. upped their price target on shares of Olema Pharmaceuticals from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Wednesday, October 8th. Oppenheimer lifted their price target on Olema Pharmaceuticals from $45.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, December 11th. Citigroup boosted their price target on Olema Pharmaceuticals from $21.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, HC Wainwright raised 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. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.00.

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.