Olema Pharmaceuticals (NASDAQ:OLMA) Insider Naseem Zojwalla Sells 70,000 Shares of Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) insider Naseem Zojwalla sold 70,000 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $28.20, for a total transaction of $1,974,000.00. Following the completion of the sale, the insider owned 103,997 shares of the company’s stock, valued at $2,932,715.40. The trade was a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Naseem Zojwalla also recently made the following trade(s):

• On Tuesday, December 23rd, Naseem Zojwalla sold 99,509 shares of Olema Pharmaceuticals stock. The shares were sold at an average price of $27.66, for a total transaction of $2,752,418.94.
• On Monday, December 22nd, Naseem Zojwalla sold 100,000 shares of Olema Pharmaceuticals stock. The stock was sold at an average price of $28.04, for a total transaction of $2,804,000.00.

Olema Pharmaceuticals Stock Down 1.8%

Shares of OLMA traded down $0.51 during trading hours on Tuesday, hitting $27.67. The stock had a trading volume of 1,493,222 shares, compared to its average volume of 3,050,527. Olema Pharmaceuticals, Inc. has a 1-year low of $2.86 and a 1-year high of $36.26. The firm has a market capitalization of $1.90 billion, a P/E ratio of -14.80 and a beta of 1.87. The firm has a 50 day simple moving average of $18.58 and a 200-day simple moving average of $10.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 8.03.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.05). Sell-side analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. UBS Group restated a “buy” rating on shares of Olema Pharmaceuticals in a report on Monday, October 20th. Guggenheim began coverage on shares of Olema Pharmaceuticals in a report on Wednesday, October 8th. They issued a “buy” rating and a $20.00 target price on the stock. Oppenheimer raised their price target on shares of Olema Pharmaceuticals from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, December 11th. The Goldman Sachs Group boosted their price objective on Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Citigroup raised their target price on Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a report on Friday, December 12th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Olema Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $40.50.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. raised its stake 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 valued at $26,000 after buying an additional 2,168 shares during the period. Farther Finance Advisors LLC increased its holdings in Olema Pharmaceuticals by 602.9% in the 2nd 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 last quarter. FNY Investment Advisers LLC raised its stake in 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 acquiring an additional 5,000 shares during the period. Quarry LP purchased a new stake in Olema Pharmaceuticals during the first quarter valued at about $45,000. Finally, Alpine Global Management LLC purchased a new stake in Olema Pharmaceuticals during the first quarter valued at about $52,000. 91.78% of the stock is owned by institutional investors.

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.