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

Key Points

• Director Cyrus Harmon sold 10,000 shares of Olema Pharmaceuticals (NASDAQ:OLMA) stock at an average price of $8.04, totaling $80,400, and now owns 754,140 shares.
• Following the transactions, Olema Pharmaceuticals stock rose by 9.8%, reaching $8.51 with a market capitalization of $584.04 million.
• Analysts have a consensus rating of "Moderate Buy" for Olema Pharmaceuticals, with a price target of $24.00, indicating potential growth for the company's stock.

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Get Free Report) Director Cyrus Harmon sold 10,000 shares of the firm's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $8.04, for a total value of $80,400.00. Following the sale, the director directly owned 754,140 shares in the company, valued at approximately $6,063,285.60. This trade represents a 1.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, September 18th, Cyrus Harmon sold 3,086 shares of Olema Pharmaceuticals stock. The stock was sold at an average price of $8.32, for a total value of $25,675.52.
• On Thursday, September 18th, Cyrus Harmon sold 10,000 shares of Olema Pharmaceuticals stock. The stock was sold at an average price of $8.33, for a total value of $83,300.00.
• On Tuesday, September 16th, Cyrus Harmon sold 1,914 shares of Olema Pharmaceuticals stock. The stock was sold at an average price of $8.08, for a total value of $15,465.12.

Olema Pharmaceuticals Stock Up 2.2%

Olema Pharmaceuticals stock traded up $0.18 during midday trading on Monday, reaching $8.35. The stock had a trading volume of 806,166 shares, compared to its average volume of 907,261. Olema Pharmaceuticals, Inc. has a 12 month low of $2.86 and a 12 month high of $13.93. The company has a market capitalization of $573.06 million, a P/E ratio of -4.23 and a beta of 1.92. The company has a fifty day moving average price of $5.80 and a two-hundred day moving average price of $4.90. The company has a current ratio of 11.09, a quick ratio of 11.09 and a debt-to-equity ratio of 0.01.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.08). As a group, equities analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Analyst Ratings Changes

OLMA has been the subject of a number of research analyst reports. Oppenheimer reiterated an "outperform" rating and set a $22.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday, September 3rd. Citigroup raised their target price on Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. raised their price objective on shares of Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, Zacks Research upgraded shares of Olema Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 9th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Olema Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $24.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OLMA. Ameritas Investment Partners Inc. raised its holdings in shares of Olema Pharmaceuticals by 55.4% in 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 during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Olema Pharmaceuticals by 602.9% in the second quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company's stock worth $29,000 after acquiring an additional 5,866 shares during the period. FNY Investment Advisers LLC increased its stake in shares of Olema Pharmaceuticals by 100.0% in the second 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 during the period. Quarry LP acquired a new stake in shares of Olema Pharmaceuticals in the first quarter worth $45,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Olema Pharmaceuticals in the first quarter worth $52,000. Hedge funds and other institutional investors own 91.78% of the company's stock.

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.