Insider Selling: Olema Pharmaceuticals (NASDAQ:OLMA) Director Sells 12,500 Shares of Stock

Key Points

• Director Cyrus Harmon sold 12,500 Olema Pharmaceuticals shares at an average price of $11.58, generating $144,750. He retained 715,270 shares after the transaction, a 1.72% reduction in his ownership.
• OLMA recently traded at $11.30, down $0.71, with a market capitalization of approximately $987 million. The stock has declined substantially from its 12-month high of $36.26, while the company reported a quarterly loss of $0.52 per share.
• Analyst sentiment remains mixed but leans positive: Olema has an overall “Moderate Buy” rating and an average price target of $44.10, despite some analysts issuing sell or strong-sell ratings.

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Get Free Report) Director Cyrus Harmon sold 12,500 shares of the stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $11.58, for a total value of $144,750.00. Following the completion of the transaction, the director directly owned 715,270 shares in the company, valued at $8,282,826.60. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Olema Pharmaceuticals Price Performance

NASDAQ OLMA traded down $0.71 on Tuesday, hitting $11.30. The company had a trading volume of 377,119 shares, compared to its average volume of 1,468,464. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.88 and a quick ratio of 10.88. The company's fifty day moving average price is $11.59 and its 200-day moving average price is $16.90. The company has a market capitalization of $987.11 million, a PE ratio of -5.60 and a beta of 2.00. Olema Pharmaceuticals, Inc. has a 12-month low of $4.47 and a 12-month high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.52) EPS for the quarter, meeting analysts' consensus estimates of ($0.52). As a group, analysts predict that Olema Pharmaceuticals, Inc. will post -2.22 earnings per share for the current year.

Institutional Trading of Olema Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Siren L.L.C. acquired a new stake in Olema Pharmaceuticals in the 4th quarter valued at $82,518,000. Janus Henderson Group PLC boosted its stake in shares of Olema Pharmaceuticals by 87.1% during the 4th quarter. Janus Henderson Group PLC now owns 6,710,194 shares of the company's stock worth $167,901,000 after buying an additional 3,124,345 shares during the last quarter. Cormorant Asset Management LP bought a new position in shares of Olema Pharmaceuticals in the 4th quarter valued at about $68,750,000. RA Capital Management L.P. acquired a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at about $65,000,000. Finally, Bain Capital Life Sciences Investors LLC increased its position in shares of Olema Pharmaceuticals by 24.3% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 8,508,641 shares of the company's stock worth $212,716,000 after purchasing an additional 1,664,687 shares during the last quarter. Institutional investors own 91.78% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on OLMA shares. Weiss Ratings restated a "sell (d-)" rating on shares of Olema Pharmaceuticals in a research report on Friday, July 17th. Wall Street Zen cut shares of Olema Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research note on Saturday. HC Wainwright restated a "buy" rating on shares of Olema Pharmaceuticals in a report on Friday, May 22nd. Finally, Guggenheim reduced their target price on Olema Pharmaceuticals from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Olema Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $44.10.

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.

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