Olema Pharmaceuticals (NASDAQ:OLMA) Earns “Buy” Rating from HC Wainwright

Olema Pharmaceuticals (NASDAQ:OLMA)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $30.00 target price on the stock.

Olema Pharmaceuticals Stock Up 5.4 %

Olema Pharmaceuticals stock opened at $4.49 on Wednesday. The firm has a 50 day moving average price of $5.38 and a 200-day moving average price of $8.92. Olema Pharmaceuticals has a twelve month low of $4.07 and a twelve month high of $16.62. The company has a market capitalization of $257.27 million, a P/E ratio of -2.05 and a beta of 2.11.

Insider Buying and Selling

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 8,256 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $9.37, for a total value of $77,358.72. Following the transaction, the director now directly owns 772,277 shares in the company, valued at $7,236,235.49. This represents a 1.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sean Bohen sold 52,328 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $9.37, for a total value of $490,313.36. Following the sale, the chief executive officer now owns 298,836 shares in the company, valued at $2,800,093.32. The trade was a 14.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 773,797 shares of company stock valued at $5,414,609. 19.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of institutional investors have recently bought and sold shares of OLMA. Polar Asset Management Partners Inc. purchased a new stake in Olema Pharmaceuticals during the 4th quarter valued at about $119,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Olema Pharmaceuticals by 23.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 93,979 shares of the company’s stock worth $548,000 after acquiring an additional 18,005 shares during the last quarter. Squarepoint Ops LLC increased its position in Olema Pharmaceuticals by 205.8% in the fourth quarter. Squarepoint Ops LLC now owns 48,829 shares of the company’s stock worth $285,000 after buying an additional 32,860 shares in the last quarter. ProShare Advisors LLC raised its stake in Olema Pharmaceuticals by 30.2% during the 4th quarter. ProShare Advisors LLC now owns 14,226 shares of the company’s stock worth $83,000 after acquiring an additional 3,298 shares during the period. Finally, MPM Bioimpact LLC boosted its holdings in Olema Pharmaceuticals by 8.7% in the 4th quarter. MPM Bioimpact LLC now owns 2,912,550 shares of the company’s stock worth $16,980,000 after buying an additional 231,954 shares during the period. 91.78% of the stock is owned by 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.