Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director Sells $4,730,136.75 in Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Director G. Walmsley Graham sold 700,761 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $6.75, for a total value of $4,730,136.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Olema Pharmaceuticals Trading Down 4.7 %

Shares of OLMA stock traded down $0.30 during trading hours on Tuesday, reaching $6.14. 1,361,945 shares of the company’s stock were exchanged, compared to its average volume of 761,553. Olema Pharmaceuticals, Inc. has a fifty-two week low of $6.08 and a fifty-two week high of $16.77. The stock’s 50 day moving average is $10.50 and its 200-day moving average is $11.85. The company has a market cap of $351.82 million, a price-to-earnings ratio of -2.80 and a beta of 1.92.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OLMA. Hennion & Walsh Asset Management Inc. acquired a new position in Olema Pharmaceuticals during the second quarter valued at $945,000. Bank of New York Mellon Corp grew its position in Olema Pharmaceuticals by 72.1% during the second quarter. Bank of New York Mellon Corp now owns 139,923 shares of the company’s stock valued at $1,514,000 after buying an additional 58,622 shares during the period. Rhumbline Advisers increased its holdings in Olema Pharmaceuticals by 43.5% in the second quarter. Rhumbline Advisers now owns 59,261 shares of the company’s stock valued at $641,000 after buying an additional 17,953 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Olema Pharmaceuticals by 26.9% during the 2nd quarter. Victory Capital Management Inc. now owns 774,792 shares of the company’s stock worth $8,383,000 after acquiring an additional 164,143 shares in the last quarter. Finally, Candriam S.C.A. grew its position in shares of Olema Pharmaceuticals by 199.9% during the 2nd quarter. Candriam S.C.A. now owns 1,058,673 shares of the company’s stock valued at $11,454,000 after acquiring an additional 705,655 shares during the period. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and issued 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, According to MarketBeat, Olema Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $27.00.

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.