Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Cyrus Harmon Sells 5,000 Shares

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Cyrus Harmon sold 5,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $10.92, for a total value of $54,600.00. Following the completion of the transaction, the director now directly owns 806,283 shares in the company, valued at approximately $8,804,610.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, April 30th, Cyrus Harmon sold 15,000 shares of Olema Pharmaceuticals stock. The shares were sold at an average price of $9.51, for a total transaction of $142,650.00.
• 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 stock was sold at an average price of $12.41, for a total transaction of $310,250.00.

Olema Pharmaceuticals Stock Performance

NASDAQ OLMA opened at $11.24 on Wednesday. Olema Pharmaceuticals, Inc. has a 52 week low of $5.02 and a 52 week high of $17.79. The stock’s 50 day moving average price is $11.44 and its two-hundred day moving average price is $12.84. The stock has a market capitalization of $628.65 million, a price-to-earnings ratio of -5.20 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) EPS for the quarter, hitting analysts’ consensus estimates of ($0.49). On average, equities research analysts forecast that Olema Pharmaceuticals, Inc. will post -2.34 EPS for the current year.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of large investors have recently modified their holdings of OLMA. SG Americas Securities LLC bought a new stake in Olema Pharmaceuticals during the third quarter worth about $142,000. Raymond James & Associates acquired a new position in shares of Olema Pharmaceuticals during the 3rd quarter worth approximately $370,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Olema Pharmaceuticals during the 3rd quarter worth approximately $164,000. Victory Capital Management Inc. acquired a new stake in shares of Olema Pharmaceuticals in the 3rd quarter valued at approximately $784,000. Finally, Vivo Capital LLC grew its stake in shares of Olema Pharmaceuticals by 39.9% in the third quarter. Vivo Capital LLC now owns 1,873,704 shares of the company’s stock valued at $23,140,000 after buying an additional 534,433 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OLMA has been the topic of several research analyst reports. 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 price objective on the stock. Capital One Financial reiterated an “overweight” rating on shares of Olema Pharmaceuticals in a research report on Thursday, February 22nd. Finally, Citigroup began coverage on shares of Olema Pharmaceuticals in a research note on Tuesday, January 30th. They issued a “buy” rating and a $20.00 price target on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $21.43.

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.