Cyrus Harmon Sells 12,500 Shares of Olema Pharmaceuticals (NASDAQ:OLMA) Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Cyrus Harmon sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $11.58, for a total value of $144,750.00. Following the completion of the transaction, the director owned 715,270 shares in the company, valued at approximately $8,282,826.60. The trade was a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Olema Pharmaceuticals Stock Performance

Shares of OLMA opened at $11.19 on Thursday. The firm has a market cap of $977.45 million, a PE ratio of -5.54 and a beta of 2.00. The stock’s fifty day moving average price is $11.51 and its two-hundred day moving average price is $16.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.88 and a quick ratio of 10.88. Olema Pharmaceuticals, Inc. has a 1 year low of $4.47 and a 1 year high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share for the quarter, hitting the consensus estimate of ($0.52). On average, equities research analysts forecast that Olema Pharmaceuticals, Inc. will post -2.22 EPS for the current year.

Institutional Investors Weigh In On Olema Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Defilade Capital Management L.P. raised its stake in shares of Olema Pharmaceuticals by 21.9% during the first quarter. Defilade Capital Management L.P. now owns 1,504,536 shares of the company’s stock valued at $22,433,000 after acquiring an additional 269,902 shares during the last quarter. Bank of America Corp DE raised its position in Olema Pharmaceuticals by 112.9% during the 1st quarter. Bank of America Corp DE now owns 508,706 shares of the company’s stock valued at $7,585,000 after purchasing an additional 269,792 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Olema Pharmaceuticals by 5.9% in the 1st quarter. Janus Henderson Group PLC now owns 7,108,488 shares of the company’s stock worth $106,013,000 after buying an additional 398,294 shares during the period. California State Teachers Retirement System grew its position in shares of Olema Pharmaceuticals by 966.0% in the 1st quarter. California State Teachers Retirement System now owns 39,079 shares of the company’s stock worth $583,000 after buying an additional 35,413 shares during the last quarter. Finally, Rock Springs Capital Management LP raised its holdings in shares of Olema Pharmaceuticals by 73.4% during the first quarter. Rock Springs Capital Management LP now owns 170,378 shares of the company’s stock valued at $2,540,000 after acquiring an additional 72,138 shares in the last quarter. Institutional investors own 91.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on OLMA shares. HC Wainwright reiterated a “buy” rating on shares of Olema Pharmaceuticals in a report on Friday, May 22nd. Guggenheim cut their target price on Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Wall Street Zen cut shares of Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Friday, July 17th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $44.10.

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.