Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Cyrus Harmon Sells 15,000 Shares

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Cyrus Harmon sold 15,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $9.51, for a total transaction of $142,650.00. Following the completion of the sale, the director now directly owns 811,283 shares of the company’s stock, valued at approximately $7,715,301.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, March 28th, Cyrus Harmon sold 20,000 shares of Olema Pharmaceuticals stock. The shares were sold at an average price of $10.97, for a total transaction of $219,400.00.
• On Thursday, February 29th, Cyrus Harmon sold 25,000 shares of Olema Pharmaceuticals stock. The shares were sold at an average price of $12.41, for a total transaction of $310,250.00.

Olema Pharmaceuticals Price Performance

OLMA traded down $0.33 during trading hours on Thursday, hitting $10.07. 968,451 shares of the stock were exchanged, compared to its average volume of 782,611. The stock has a 50-day simple moving average of $11.61 and a 200-day simple moving average of $12.83. Olema Pharmaceuticals, Inc. has a 12 month low of $5.02 and a 12 month high of $17.79. The stock has a market cap of $563.22 million, a price-to-earnings ratio of -4.61 and a beta of 2.10.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Monday, March 11th. The company reported ($0.49) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.49). Sell-side analysts expect that Olema Pharmaceuticals, Inc. will post -2.34 EPS for the current year.

Hedge Funds Weigh In On Olema Pharmaceuticals

Several large investors have recently added to or reduced their stakes in OLMA. MPM Bioimpact LLC increased its position in Olema Pharmaceuticals by 301.7% in the third quarter. MPM Bioimpact LLC now owns 1,857,681 shares of the company’s stock worth $22,942,000 after buying an additional 1,395,181 shares during the period. Polar Capital Holdings Plc acquired a new stake in Olema Pharmaceuticals in the third quarter worth $9,262,000. First Light Asset Management LLC acquired a new stake in Olema Pharmaceuticals in the fourth quarter worth $8,854,000. Victory Capital Management Inc. increased its position in Olema Pharmaceuticals by 879.6% in the fourth quarter. Victory Capital Management Inc. now owns 621,527 shares of the company’s stock worth $8,720,000 after buying an additional 558,077 shares during the period. Finally, Perceptive Advisors LLC acquired a new stake in Olema Pharmaceuticals in the fourth quarter worth $7,574,000. 91.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Capital One Financial reaffirmed an “overweight” rating on shares of Olema Pharmaceuticals in a research report on Thursday, February 22nd. Citigroup initiated coverage on Olema Pharmaceuticals in a research note on Tuesday, January 30th. They set a “buy” rating and a $20.00 target price for the company. Finally, The Goldman Sachs Group initiated coverage on Olema Pharmaceuticals in a research note on Tuesday, April 2nd. They set a “buy” rating and a $24.00 target price for the company. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $21.43.

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.