Insider Selling: Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Insider Sells 12,452 Shares of Stock

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

Olema Pharmaceuticals Stock Performance

Shares of OLMA stock opened at $6.75 on Friday. The firm has a market capitalization of $386.76 million, a price-to-earnings ratio of -3.08 and a beta of 1.92. Olema Pharmaceuticals, Inc. has a one year low of $6.24 and a one year high of $16.77. The company has a 50 day moving average price of $10.70 and a 200 day moving average price of $11.86.

Analyst Ratings Changes

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

Institutional Trading of Olema Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in OLMA. Conway Capital Management Inc. purchased a new stake in Olema Pharmaceuticals during the third quarter valued at about $119,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of 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 purchasing an additional 4,442 shares in the last quarter. Portland Investment Counsel Inc. purchased a new stake in shares of Olema Pharmaceuticals during the 3rd quarter worth about $143,000. SG Americas Securities LLC acquired a new stake in Olema Pharmaceuticals during the 3rd quarter worth approximately $156,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Olema Pharmaceuticals in the second quarter valued at approximately $145,000. 91.78% of the stock is currently 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.