Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Insider Sells $116,799.76 in Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) insider David C. Myles sold 12,452 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 611,947 shares in the company, valued at approximately $5,740,062.86. The trade was a 1.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Olema Pharmaceuticals Trading Down 20.1 %

NASDAQ OLMA opened at $6.72 on Friday. The business’s 50-day moving average price is $10.80 and its 200 day moving average price is $11.88. Olema Pharmaceuticals, Inc. has a twelve month low of $6.50 and a twelve month high of $16.77.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of institutional investors have recently bought and sold shares of OLMA. Conway Capital Management Inc. acquired a new position in shares of Olema Pharmaceuticals in the 3rd quarter valued at $119,000. China Universal Asset Management Co. Ltd. boosted its holdings in Olema Pharmaceuticals by 67.6% in the third 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 last quarter. Portland Investment Counsel Inc. purchased a new stake in Olema Pharmaceuticals during the third quarter valued at about $143,000. SG Americas Securities LLC acquired a new stake in Olema Pharmaceuticals during the third quarter worth about $156,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Olema Pharmaceuticals in the 2nd quarter worth about $145,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

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.