Olema Pharmaceuticals (NASDAQ:OLMA) Stock Price Down 3.6% Following Insider Selling

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)’s stock price traded down 3.6% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $12.00 and last traded at $12.05. 225,048 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 866,265 shares. The stock had previously closed at $12.50.

Specifically, Director Cyrus Harmon sold 5,000 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $12.26, for a total value of $61,300.00. Following the completion of the sale, the director now owns 756,283 shares in the company, valued at $9,272,029.58. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders sold 65,000 shares of company stock worth $669,750. 19.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

OLMA has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on Olema Pharmaceuticals in a report on Tuesday, April 2nd. They issued a “buy” rating and a $24.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a report on Tuesday, June 4th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $22.00.

Olema Pharmaceuticals Trading Down 1.6 %

The business has a fifty day simple moving average of $11.06 and a 200 day simple moving average of $11.88.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its earnings results on Wednesday, May 8th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.03). On average, sell-side analysts expect that Olema Pharmaceuticals, Inc. will post -2.3 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. California State Teachers Retirement System lifted its holdings in Olema Pharmaceuticals by 3.4% during the 1st quarter. California State Teachers Retirement System now owns 34,695 shares of the company’s stock worth $393,000 after buying an additional 1,132 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Olema Pharmaceuticals by 74.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock worth $13,817,000 after purchasing an additional 521,562 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Olema Pharmaceuticals by 6.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,251 shares of the company’s stock worth $298,000 after purchasing an additional 1,486 shares during the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Olema Pharmaceuticals by 949.9% in the 1st quarter. EntryPoint Capital LLC now owns 14,530 shares of the company’s stock worth $164,000 after purchasing an additional 13,146 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of Olema Pharmaceuticals in the 1st quarter worth approximately $161,000. Institutional investors own 91.78% of the company’s stock.

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.