Olema Pharmaceuticals, Inc. (NASDAQ:OLMA – Get Free Report)’s share price fell 5% on Tuesday after an insider sold shares in the company. The stock traded as low as $10.56 and last traded at $10.58. 109,169 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 886,137 shares. The stock had previously closed at $11.14.
Specifically, Director Cyrus Harmon sold 20,000 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $10.77, for a total transaction of $215,400.00. Following the completion of the sale, the director now directly owns 761,283 shares in the company, valued at approximately $8,199,017.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 60,000 shares of company stock worth $608,450 in the last ninety days. Insiders own 19.40% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently commented on the company. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Tuesday, June 4th. The Goldman Sachs Group initiated coverage on Olema Pharmaceuticals in a report on Tuesday, April 2nd. They set a “buy” rating and a $24.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $22.00.
Olema Pharmaceuticals Stock Up 2.5 %
The firm’s 50 day simple moving average is $10.88 and its 200 day simple moving average is $11.99.
Olema Pharmaceuticals (NASDAQ:OLMA – Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). Equities research analysts forecast that Olema Pharmaceuticals, Inc. will post -2.3 EPS for the current fiscal year.
Institutional Trading of Olema Pharmaceuticals
A number of large investors have recently added to or reduced their stakes in OLMA. Public Employees Retirement System of Ohio bought a new stake in Olema Pharmaceuticals during the third quarter worth approximately $35,000. China Universal Asset Management Co. Ltd. bought a new stake in Olema Pharmaceuticals during the fourth quarter worth approximately $89,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Olema Pharmaceuticals during the fourth quarter worth approximately $130,000. Entropy Technologies LP bought a new stake in Olema Pharmaceuticals during the first quarter worth approximately $161,000. Finally, EntryPoint Capital LLC boosted its holdings in Olema Pharmaceuticals by 949.9% during the first quarter. EntryPoint Capital LLC now owns 14,530 shares of the company’s stock worth $164,000 after buying an additional 13,146 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors.
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.
See Also
- Five stocks we like better than Olema Pharmaceuticals
- The Most Important Warren Buffett Stock for Investors: His Own
- Celebrate July 4th with These Red, White, & Blue Chip Stocks
- How is Compound Interest Calculated?
- AbbVie Stock: A Perfect Dip for Investors to Buy
- How to Start Investing in Real Estate
- Forget NVIDIA: Super Micro Computer Stock Leads in Momentum
Receive News & Ratings for Olema Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olema Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.