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 business's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $8.33, for a total transaction of $83,300.00. Following the sale, the director directly owned 744,140 shares in the company, valued at approximately $6,198,686.20. This represents a 1.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Thursday, September 18th, Cyrus Harmon sold 3,086 shares of Olema Pharmaceuticals stock. The shares were sold at an average price of $8.32, for a total transaction 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 transaction 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 transaction of $80,400.00.

Olema Pharmaceuticals Price Performance

NASDAQ:OLMA traded up $0.18 during trading hours on Monday, reaching $8.35. 806,166 shares of the company were exchanged, compared to its average volume of 907,261. The company has a current ratio of 11.09, a quick ratio of 11.09 and a debt-to-equity ratio of 0.01. The stock's 50-day moving average is $5.80 and its 200-day moving average is $4.90. The firm has a market cap of $573.06 million, a PE ratio of -4.23 and a beta of 1.92. Olema Pharmaceuticals, Inc. has a twelve month low of $2.86 and a twelve month high of $13.93.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans acquired a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth $308,000. Bridgeway Capital Management LLC acquired a new position in Olema Pharmaceuticals in the 2nd quarter valued at about $213,000. Birchview Capital LP acquired a new position in Olema Pharmaceuticals in the 2nd quarter valued at about $571,000. Ameriprise Financial Inc. raised its stake in Olema Pharmaceuticals by 193.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,172,863 shares of the company's stock valued at $4,996,000 after purchasing an additional 773,064 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Olema Pharmaceuticals by 46.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,442 shares of the company's stock valued at $96,000 after purchasing an additional 7,146 shares during the last quarter. Institutional investors and hedge funds own 91.78% of the company's stock.

Wall Street Analyst Weigh In

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

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.