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

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

Olema Pharmaceuticals Price Performance

Olema Pharmaceuticals stock traded down $0.02 during midday trading on Wednesday, hitting $4.18. The company’s stock had a trading volume of 133,695 shares, compared to its average volume of 1,075,986. The company has a 50-day moving average price of $5.46 and a two-hundred day moving average price of $8.99. Olema Pharmaceuticals has a 1-year low of $4.07 and a 1-year high of $16.62. The company has a market cap of $239.51 million, a price-to-earnings ratio of -1.91 and a beta of 2.05.

Insider Activity at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 8,256 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 772,277 shares in the company, valued at approximately $7,236,235.49. The trade was a 1.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Bain Capital Life Sciences Inv purchased 300,000 shares of Olema Pharmaceuticals stock in a transaction that occurred on Wednesday, January 8th. The shares were purchased at an average price of $5.76 per share, for a total transaction of $1,728,000.00. Following the transaction, the insider now directly owns 7,800,000 shares in the company, valued at $44,928,000. This represents a 4.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, 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

Several institutional investors have recently added to or reduced their stakes in OLMA. JPMorgan Chase & Co. raised its holdings in shares of Olema Pharmaceuticals by 658.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 181,032 shares of the company’s stock worth $2,162,000 after buying an additional 157,171 shares in the last quarter. Victory Capital Management Inc. grew its position in Olema Pharmaceuticals by 9.9% in the third quarter. Victory Capital Management Inc. now owns 851,512 shares of the company’s stock valued at $10,167,000 after acquiring an additional 76,720 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Olema Pharmaceuticals by 80.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 212,246 shares of the company’s stock worth $1,237,000 after acquiring an additional 94,651 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Olema Pharmaceuticals by 168.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 330,761 shares of the company’s stock worth $3,949,000 after acquiring an additional 207,565 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Olema Pharmaceuticals by 10.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,002,685 shares of the company’s stock valued at $11,972,000 after purchasing an additional 97,428 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.

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.