Olema Pharmaceuticals’ (OLMA) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a report released on Tuesday morning,Benzinga reports. They currently have a $30.00 target price on the stock.

Olema Pharmaceuticals Trading Down 3.1 %

NASDAQ:OLMA opened at $4.37 on Tuesday. Olema Pharmaceuticals has a 12-month low of $3.95 and a 12-month high of $16.62. The firm has a market cap of $250.39 million, a PE ratio of -2.00 and a beta of 2.11. The stock has a fifty day moving average price of $5.25 and a 200 day moving average price of $8.66.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, Director G. Walmsley Graham sold 700,761 shares of Olema Pharmaceuticals stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $6.75, for a total value of $4,730,136.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Bain Capital Life Sciences Inv purchased 300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were bought at an average cost of $5.76 per share, with a total value of $1,728,000.00. Following the completion of the acquisition, the insider now owns 7,800,000 shares of the company’s stock, valued at approximately $44,928,000. This trade represents a 4.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 19.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Olema Pharmaceuticals

A number of large investors have recently bought and sold shares of OLMA. Polar Asset Management Partners Inc. acquired a new position in shares of Olema Pharmaceuticals during the fourth quarter worth about $119,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Olema Pharmaceuticals by 23.7% during the fourth 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 period. Squarepoint Ops LLC grew its holdings in Olema Pharmaceuticals by 205.8% during the fourth quarter. Squarepoint Ops LLC now owns 48,829 shares of the company’s stock worth $285,000 after acquiring an additional 32,860 shares during the period. ProShare Advisors LLC lifted its stake in shares of Olema Pharmaceuticals by 30.2% in the fourth quarter. ProShare Advisors LLC now owns 14,226 shares of the company’s stock valued at $83,000 after purchasing an additional 3,298 shares during the period. Finally, MPM Bioimpact LLC boosted its holdings in Olema Pharmaceuticals by 8.7% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Company Profile

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.