Olema Pharmaceuticals (NASDAQ:OLMA) Trading 3.7% Higher

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) rose 3.7% during mid-day trading on Friday . The company traded as high as $12.08 and last traded at $11.96. Approximately 25,616 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 836,224 shares. The stock had previously closed at $11.53.

Wall Street Analyst Weigh In

OLMA has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday, August 7th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday, August 7th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $27.00.

Olema Pharmaceuticals Trading Up 4.2 %

The firm has a market cap of $672.33 million, a PE ratio of -6.04 and a beta of 2.06. The business has a fifty day moving average price of $12.79 and a 200 day moving average price of $12.15.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.54) EPS for the quarter, meeting analysts’ consensus estimates of ($0.54). On average, research analysts expect that Olema Pharmaceuticals, Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $14.91, for a total transaction of $35,784,000.00. Following the transaction, the insider now owns 783,118 shares in the company, valued at approximately $11,676,289.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Olema Pharmaceuticals news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $14.91, for a total transaction of $35,784,000.00. Following the completion of the sale, the insider now directly owns 783,118 shares of the company’s stock, valued at approximately $11,676,289.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cyrus Harmon sold 4,066 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.58, for a total value of $63,348.28. Following the sale, the director now directly owns 752,217 shares of the company’s stock, valued at $11,719,540.86. The disclosure for this sale can be found here. Insiders have sold 2,449,066 shares of company stock worth $36,319,848 in the last quarter. 19.40% of the stock is owned by insiders.

Institutional Trading of Olema Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Olema Pharmaceuticals by 66.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,562 shares of the company’s stock valued at $120,000 after buying an additional 4,221 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Olema Pharmaceuticals in the 4th quarter valued at approximately $130,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Olema Pharmaceuticals in the 2nd quarter valued at approximately $145,000. Entropy Technologies LP acquired a new stake in shares of Olema Pharmaceuticals in the 1st quarter valued at approximately $161,000. Finally, Ensign Peak Advisors Inc lifted its holdings in shares of Olema Pharmaceuticals by 6.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 14,849 shares of the company’s stock valued at $161,000 after buying an additional 850 shares during the period. 91.78% of the stock is owned by institutional investors and hedge funds.

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.