Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Major Shareholder Acquires $1,728,000.00 in Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) major shareholder Bain Capital Life Sciences Inv purchased 300,000 shares of Olema Pharmaceuticals stock in a transaction that occurred on Wednesday, January 8th. The shares were bought at an average cost of $5.76 per share, for a total transaction of $1,728,000.00. Following the completion of the transaction, the insider now directly owns 7,800,000 shares in the company, valued at $44,928,000. This represents a 4.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Olema Pharmaceuticals Stock Up 7.4 %

Shares of OLMA opened at $5.52 on Thursday. The business’s 50 day moving average is $8.07 and its two-hundred day moving average is $10.92. Olema Pharmaceuticals, Inc. has a 52-week low of $4.60 and a 52-week high of $16.77. The firm has a market cap of $316.28 million, a price-to-earnings ratio of -2.52 and a beta of 2.05.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday, December 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $27.00.

Hedge Funds Weigh In On Olema Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Conway Capital Management Inc. acquired a new position in shares of Olema Pharmaceuticals in the 3rd quarter valued at approximately $119,000. China Universal Asset Management Co. Ltd. raised its position in shares of Olema Pharmaceuticals by 67.6% during 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 in the last quarter. Portland Investment Counsel Inc. acquired a new stake in shares of Olema Pharmaceuticals during the 3rd quarter valued at approximately $143,000. SG Americas Securities LLC acquired a new stake in shares of Olema Pharmaceuticals during the 3rd quarter valued at approximately $156,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Olema Pharmaceuticals during the 2nd quarter valued at approximately $145,000. 91.78% of the stock is owned by institutional investors and hedge funds.

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.