Olema Pharmaceuticals (NASDAQ:OLMA) Insider Naseem Zojwalla Sells 100,000 Shares

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) insider Naseem Zojwalla sold 100,000 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $28.04, for a total transaction of $2,804,000.00. Following the sale, the insider directly owned 53,997 shares of the company’s stock, valued at $1,514,075.88. This represents a 64.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Naseem Zojwalla also recently made the following trade(s):

• On Tuesday, December 23rd, Naseem Zojwalla sold 99,509 shares of Olema Pharmaceuticals stock. The shares were sold at an average price of $27.66, for a total transaction of $2,752,418.94.
• On Friday, December 19th, Naseem Zojwalla sold 70,000 shares of Olema Pharmaceuticals stock. The stock was sold at an average price of $28.20, for a total value of $1,974,000.00.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ OLMA traded down $0.51 during midday trading on Tuesday, hitting $27.67. The stock had a trading volume of 1,493,222 shares, compared to its average volume of 3,050,527. The company has a quick ratio of 8.03, a current ratio of 8.03 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $18.58 and a 200-day simple moving average of $10.56. The company has a market capitalization of $1.90 billion, a PE ratio of -14.80 and a beta of 1.87. Olema Pharmaceuticals, Inc. has a 1 year low of $2.86 and a 1 year high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.05). On average, sell-side analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OLMA. UBS Group reaffirmed a “buy” rating on shares of Olema Pharmaceuticals in a research note on Monday, October 20th. JPMorgan Chase & Co. lifted their price objective on Olema Pharmaceuticals from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 18th. Guggenheim began coverage on Olema Pharmaceuticals in a report on Wednesday, October 8th. They issued a “buy” rating and a $20.00 target price for the company. HC Wainwright lifted their price target on Olema Pharmaceuticals from $36.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Zacks Research raised shares of Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 9th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.50.

Hedge Funds Weigh In On Olema Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Persistent Asset Partners Ltd lifted its position in Olema Pharmaceuticals by 153.8% in the second quarter. Persistent Asset Partners Ltd now owns 58,333 shares of the company’s stock valued at $248,000 after buying an additional 35,345 shares during the last quarter. Titleist Asset Management LLC purchased a new stake in shares of Olema Pharmaceuticals in the 2nd quarter valued at approximately $64,000. Diadema Partners LP lifted its holdings in shares of Olema Pharmaceuticals by 153.7% in the 2nd quarter. Diadema Partners LP now owns 253,657 shares of the company’s stock worth $1,081,000 after acquiring an additional 153,657 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Olema Pharmaceuticals by 93.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock worth $2,787,000 after purchasing an additional 358,412 shares during the period. Finally, Nuveen LLC acquired a new stake in Olema Pharmaceuticals in the 1st quarter valued at approximately $1,295,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Olema Pharmaceuticals Company Profile

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.