Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Given Average Rating of “Buy” by Brokerages

Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) have been given an average recommendation of “Buy” by the six research firms that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $27.00.

Separately, HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, December 11th.

Olema Pharmaceuticals Trading Up 5.4 %

OLMA stock opened at $6.10 on Friday. The stock has a market cap of $349.52 million, a PE ratio of -2.79 and a beta of 1.92. Olema Pharmaceuticals has a 12 month low of $5.56 and a 12 month high of $16.77. The company has a 50-day moving average price of $10.17 and a 200 day moving average price of $11.72.

Insider Activity at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 8,256 shares of Olema Pharmaceuticals 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 completion of the sale, the director now directly owns 772,277 shares in the company, valued at $7,236,235.49. The trade was a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sean Bohen sold 52,328 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 transaction of $490,313.36. Following the completion of the sale, the chief executive officer now directly owns 298,836 shares of the company’s stock, valued at approximately $2,800,093.32. This trade represents a 14.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 773,797 shares of company stock worth $5,414,609. Company insiders own 19.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. lifted its position in shares of Olema Pharmaceuticals by 14.8% during the third quarter. Point72 Asset Management L.P. now owns 3,687,374 shares of the company’s stock valued at $44,027,000 after buying an additional 475,447 shares during the last quarter. State Street Corp raised its stake in shares of Olema Pharmaceuticals by 1.1% during the 3rd quarter. State Street Corp now owns 1,969,963 shares of the company’s stock worth $23,521,000 after acquiring an additional 21,986 shares in the last quarter. Candriam S.C.A. lifted its position in Olema Pharmaceuticals by 199.9% during the second 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 last quarter. Wellington Management Group LLP boosted its stake in Olema Pharmaceuticals by 10.8% in the third quarter. Wellington Management Group LLP now owns 1,002,685 shares of the company’s stock valued at $11,972,000 after acquiring an additional 97,428 shares in the last quarter. Finally, Great Point Partners LLC grew its holdings in Olema Pharmaceuticals by 25.5% in the third quarter. Great Point Partners LLC now owns 1,000,000 shares of the company’s stock worth $11,940,000 after purchasing an additional 203,120 shares during the last quarter. 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.