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

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

Olema Pharmaceuticals Stock Performance

OLMA traded down $0.02 during trading on Wednesday, reaching $4.18. 133,695 shares of the stock were exchanged, compared to its average volume of 1,075,986. The stock’s 50 day moving average price is $5.46 and its two-hundred day moving average price is $8.99. Olema Pharmaceuticals has a twelve month low of $4.07 and a twelve month high of $16.62. The stock has a market cap of $239.51 million, a P/E ratio of -1.91 and a beta of 2.05.

Insider Activity

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

Institutional Trading of Olema Pharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. KLP Kapitalforvaltning AS acquired a new position in Olema Pharmaceuticals in the 4th quarter valued at about $30,000. Conway Capital Management Inc. bought a new stake in shares of Olema Pharmaceuticals during the third quarter worth approximately $119,000. Hsbc Holdings PLC acquired a new position in shares of Olema Pharmaceuticals in the fourth quarter valued at approximately $58,000. Teacher Retirement System of Texas bought a new position in shares of Olema Pharmaceuticals during the fourth quarter worth approximately $60,000. Finally, Virtus ETF Advisers LLC increased its stake in shares of Olema Pharmaceuticals by 43.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 10,579 shares of the company’s stock worth $62,000 after purchasing an additional 3,185 shares during the period. Institutional investors and hedge funds own 91.78% of the company’s stock.

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.