Insider Selling: Olema Pharmaceuticals (NASDAQ:OLMA) Insider Sells $283,400.00 in Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) insider David Myles sold 10,000 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $28.34, for a total transaction of $283,400.00. Following the completion of the sale, the insider owned 144,846 shares in the company, valued at $4,104,935.64. This represents a 6.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Olema Pharmaceuticals Stock Down 7.0%

OLMA opened at $27.14 on Friday. The firm has a market capitalization of $1.86 billion, a P/E ratio of -14.51 and a beta of 1.92. Olema Pharmaceuticals, Inc. has a one year low of $2.86 and a one year high of $36.26. The company has a fifty day moving average price of $25.08 and a 200-day moving average price of $13.27. 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 posted 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 research analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current fiscal year.

Institutional Trading of Olema Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Tema Etfs LLC bought a new position in shares of Olema Pharmaceuticals during the fourth quarter valued at about $1,113,000. Nisa Investment Advisors LLC grew its position in Olema Pharmaceuticals by 14.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,764 shares of the company’s stock worth $94,000 after acquiring an additional 477 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Olema Pharmaceuticals by 83.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 447,046 shares of the company’s stock worth $11,176,000 after purchasing an additional 202,970 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Olema Pharmaceuticals during the fourth quarter valued at approximately $1,735,000. Finally, Susquehanna International Group LLP boosted its stake in shares of Olema Pharmaceuticals by 20.6% during the third quarter. Susquehanna International Group LLP now owns 112,277 shares of the company’s stock valued at $1,099,000 after purchasing an additional 19,182 shares during the period. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OLMA has been the topic of a number of recent analyst reports. Oppenheimer raised their target price on shares of Olema Pharmaceuticals from $45.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, December 11th. Guggenheim assumed coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, October 8th. They set a “buy” rating and a $20.00 price objective on the stock. Piper Sandler assumed coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, January 7th. They issued an “overweight” rating and a $40.00 target price for the company. Citigroup increased their target price on Olema Pharmaceuticals from $21.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Finally, JPMorgan Chase & Co. lifted their price target on Olema Pharmaceuticals from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 18th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

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.