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

Key Points

• Cyrus Harmon, Director of Olema Pharmaceuticals, sold a total of 10,000 shares on September 18th for approximately $83,300, resulting in a 1.33% decrease in his ownership stake.
• Olema Pharmaceuticals reported a loss of $0.51 per share in its latest quarterly earnings, missing analysts' consensus estimate of ($0.43).
• Analysts have a consensus rating of "Moderate Buy" for Olema Pharmaceuticals, with price targets ranging from $21.00 to $29.00 as noted by different firms.

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Get Free Report) Director Cyrus Harmon sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $8.33, for a total transaction of $83,300.00. Following the completion of the sale, the director owned 744,140 shares in the company, valued at $6,198,686.20. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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 Tuesday, September 16th, Cyrus Harmon sold 1,914 shares of Olema Pharmaceuticals stock. The shares were sold at an average price of $8.08, for a total value of $15,465.12.
• On Tuesday, September 16th, Cyrus Harmon sold 10,000 shares of Olema Pharmaceuticals stock. The shares were sold at an average price of $8.04, for a total value of $80,400.00.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ OLMA traded up $0.76 during trading on Thursday, reaching $8.51. The company had a trading volume of 1,047,440 shares, compared to its average volume of 1,073,614. 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, Inc. has a twelve month low of $2.86 and a twelve month high of $13.93. The stock has a 50-day moving average price of $5.73 and a two-hundred day moving average price of $4.86. The stock has a market capitalization of $584.04 million, a PE ratio of -4.30 and a beta of 1.92.

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

Institutional Investors Weigh In On Olema Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp lifted its stake in shares of Olema Pharmaceuticals by 8.7% in the 4th quarter. Northern Trust Corp now owns 423,787 shares of the company's stock valued at $2,471,000 after purchasing an additional 34,053 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Olema Pharmaceuticals during the fourth quarter valued at approximately $1,130,000. Bank of America Corp DE lifted its position in Olema Pharmaceuticals by 110.6% during the fourth quarter. Bank of America Corp DE now owns 865,339 shares of the company's stock valued at $5,045,000 after buying an additional 454,400 shares in the last quarter. Deutsche Bank AG grew its stake in Olema Pharmaceuticals by 45.0% during the fourth quarter. Deutsche Bank AG now owns 39,331 shares of the company's stock worth $229,000 after buying an additional 12,199 shares during the period. Finally, Millennium Management LLC increased its position in shares of Olema Pharmaceuticals by 1,154.4% in the fourth quarter. Millennium Management LLC now owns 979,219 shares of the company's stock worth $5,709,000 after acquiring an additional 901,159 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on OLMA shares. Zacks Research raised shares of Olema Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 9th. Citigroup increased their price target 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 Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $22.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

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.

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