Insider Selling: Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Sells 20,000 Shares of Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Cyrus Harmon sold 20,000 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $10.77, for a total value of $215,400.00. Following the sale, the director now owns 761,283 shares of the company’s stock, valued at approximately $8,199,017.91. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, June 3rd, Cyrus Harmon sold 5,000 shares of Olema Pharmaceuticals stock. The shares were sold at an average price of $10.93, for a total value of $54,650.00.
• On Friday, May 31st, Cyrus Harmon sold 15,000 shares of Olema Pharmaceuticals stock. The shares were sold at an average price of $9.41, for a total value of $141,150.00.
• On Monday, May 6th, Cyrus Harmon sold 5,000 shares of Olema Pharmaceuticals stock. The shares were sold at an average price of $10.92, for a total value of $54,600.00.
• On Tuesday, April 30th, Cyrus Harmon sold 15,000 shares of Olema Pharmaceuticals stock. The shares were sold at an average price of $9.51, for a total value of $142,650.00.

Olema Pharmaceuticals Stock Down 6.6 %

NASDAQ OLMA opened at $10.41 on Wednesday. Olema Pharmaceuticals, Inc. has a 1-year low of $7.78 and a 1-year high of $17.79. The firm’s fifty day simple moving average is $10.87 and its 200-day simple moving average is $11.99.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). As a group, equities analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.3 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on OLMA. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a report on Tuesday, June 4th. The Goldman Sachs Group began coverage on Olema Pharmaceuticals in a report on Tuesday, April 2nd. They issued a “buy” rating and a $24.00 target price for the company. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $22.00.

Hedge Funds Weigh In On Olema Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in Olema Pharmaceuticals by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,715,420 shares of the company’s stock worth $24,069,000 after buying an additional 21,420 shares during the last quarter. Vanguard Group Inc. increased its position in Olema Pharmaceuticals by 2.2% during the third quarter. Vanguard Group Inc. now owns 1,710,307 shares of the company’s stock worth $21,122,000 after buying an additional 36,785 shares during the last quarter. Janus Henderson Group PLC increased its position in Olema Pharmaceuticals by 74.5% during the first quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock worth $13,817,000 after buying an additional 521,562 shares during the last quarter. Polar Capital Holdings Plc acquired a new position in Olema Pharmaceuticals during the third quarter worth $9,262,000. Finally, First Light Asset Management LLC acquired a new position in Olema Pharmaceuticals during the fourth quarter worth $8,854,000. 91.78% of the stock is owned by institutional investors and hedge funds.

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.