Olema Pharmaceuticals (NASDAQ:OLMA) Director Cyrus Harmon Sells 2,881 Shares

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Cyrus Harmon sold 2,881 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $28.53, for a total value of $82,194.93. Following the sale, the director owned 741,259 shares in the company, valued at approximately $21,148,119.27. This trade represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Olema Pharmaceuticals Price Performance

Shares of Olema Pharmaceuticals stock opened at $25.64 on Tuesday. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -13.71 and a beta of 1.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.03 and a current ratio of 8.03. The stock has a 50 day moving average price of $19.97 and a 200-day moving average price of $11.19. Olema Pharmaceuticals, Inc. has a one year low of $2.86 and a one year high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data 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). Equities analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Paradigm Biocapital Advisors LP boosted its position in Olema Pharmaceuticals by 0.4% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 6,794,172 shares of the company’s stock valued at $66,515,000 after acquiring an additional 30,000 shares in the last quarter. Deep Track Capital LP boosted its position in Olema Pharmaceuticals by 0.8% during the third quarter. Deep Track Capital LP now owns 3,470,172 shares of the company’s stock valued at $33,973,000 after purchasing an additional 27,339 shares in the last quarter. MPM Bioimpact LLC grew its stake in Olema Pharmaceuticals by 0.6% in the first quarter. MPM Bioimpact LLC now owns 2,930,446 shares of the company’s stock valued at $11,018,000 after purchasing an additional 17,896 shares during the last quarter. Woodline Partners LP raised its holdings in Olema Pharmaceuticals by 8.9% in the first quarter. Woodline Partners LP now owns 1,477,907 shares of the company’s stock worth $5,557,000 after purchasing an additional 120,428 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Olema Pharmaceuticals by 22.4% during the second quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock valued at $5,650,000 after buying an additional 242,997 shares during the last quarter. Institutional investors own 91.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Guggenheim initiated coverage on shares of Olema Pharmaceuticals in a research note on Wednesday, October 8th. They issued a “buy” rating and a $20.00 price target on the stock. Citigroup raised their target price on shares of Olema Pharmaceuticals from $21.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Wednesday, October 8th. UBS Group restated a “buy” rating on shares of Olema Pharmaceuticals in a report on Monday, October 20th. Finally, HC Wainwright upped their target price on Olema Pharmaceuticals from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Olema Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $40.50.

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.