David C. Myles Sells 12,452 Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) insider David C. Myles sold 12,452 shares of Olema Pharmaceuticals stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $9.38, for a total value of $116,799.76. Following the completion of the transaction, the insider now owns 611,947 shares of the company’s stock, valued at approximately $5,740,062.86. This trade represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Olema Pharmaceuticals Trading Down 12.8 %

Shares of NASDAQ OLMA traded down $1.23 during mid-day trading on Wednesday, reaching $8.41. The company had a trading volume of 2,119,334 shares, compared to its average volume of 740,302. The firm has a 50 day simple moving average of $10.97 and a two-hundred day simple moving average of $11.94. Olema Pharmaceuticals, Inc. has a 52-week low of $7.68 and a 52-week high of $16.77. The stock has a market cap of $481.88 million, a P/E ratio of -4.05 and a beta of 1.92.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Conway Capital Management Inc. acquired a new stake in shares of Olema Pharmaceuticals during the third quarter worth about $119,000. China Universal Asset Management Co. Ltd. increased its position in Olema Pharmaceuticals by 67.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock valued at $132,000 after acquiring an additional 4,442 shares during the period. Portland Investment Counsel Inc. purchased a new stake in Olema Pharmaceuticals during the 3rd quarter valued at approximately $143,000. Cubist Systematic Strategies LLC purchased a new position in shares of Olema Pharmaceuticals in the 2nd quarter valued at approximately $145,000. Finally, SG Americas Securities LLC acquired a new position in shares of Olema Pharmaceuticals in the third quarter valued at approximately $156,000. 91.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Olema Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $27.00.

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.