Insider Selling: Olema Pharmaceuticals (NASDAQ:OLMA) Insider Sells 100,000 Shares of Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) insider Shane William Charles Kovacs sold 100,000 shares of Olema Pharmaceuticals stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $28.73, for a total value of $2,873,000.00. Following the sale, the insider directly owned 139,727 shares in the company, valued at approximately $4,014,356.71. The trade was a 41.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Olema Pharmaceuticals Stock Up 1.5%

OLMA traded up $0.42 on Thursday, reaching $29.19. The company’s stock had a trading volume of 1,138,150 shares, compared to its average volume of 1,472,583. Olema Pharmaceuticals, Inc. has a 1 year low of $2.86 and a 1 year high of $36.26. The business’s 50 day moving average is $24.70 and its 200 day moving average is $13.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 8.03. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -15.61 and a beta of 1.92.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its earnings results on Monday, November 10th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.05). As a group, research analysts forecast that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Citigroup raised their price objective on Olema Pharmaceuticals from $21.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Wednesday, October 8th. Oppenheimer boosted their price objective 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. UBS Group started coverage on Olema Pharmaceuticals in a research note on Wednesday, January 7th. They issued a “buy” rating and a $45.00 target price for the company. Finally, Guggenheim began coverage on Olema Pharmaceuticals in a research report on Wednesday, October 8th. They set a “buy” rating and a $20.00 price target on the stock. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $41.00.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OLMA. Ameritas Investment Partners Inc. boosted its stake in shares of Olema Pharmaceuticals by 55.4% during the 2nd 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 grew its stake in Olema Pharmaceuticals by 602.9% in the second quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company’s stock valued at $29,000 after purchasing an additional 5,866 shares in the last quarter. FNY Investment Advisers LLC raised its stake in shares of Olema Pharmaceuticals by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $42,000 after purchasing an additional 5,000 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Olema Pharmaceuticals during the 3rd quarter worth $53,000. Finally, American Century Companies Inc. bought a new position in Olema Pharmaceuticals in the 2nd quarter worth $54,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

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.