Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Short Interest Down 22.6% in January

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 8,410,000 shares, a decline of 22.6% from the January 15th total of 10,870,000 shares. Based on an average daily trading volume, of 1,070,000 shares, the days-to-cover ratio is presently 7.9 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, December 11th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $28.75.

Olema Pharmaceuticals Stock Performance

OLMA traded up $0.14 during trading on Friday, reaching $4.97. 714,814 shares of the company’s stock were exchanged, compared to its average volume of 1,102,982. Olema Pharmaceuticals has a 1 year low of $4.60 and a 1 year high of $16.62. The company’s fifty day simple moving average is $6.01 and its 200-day simple moving average is $9.74.

Insider Transactions at Olema Pharmaceuticals

In related news, insider David C. Myles sold 12,452 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $9.38, for a total transaction of $116,799.76. Following the sale, the insider now owns 611,947 shares of the company’s stock, valued at $5,740,062.86. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cyrus Harmon sold 8,256 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $9.37, for a total transaction of $77,358.72. Following the transaction, the director now owns 772,277 shares in the company, valued at $7,236,235.49. This trade represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 773,797 shares of company stock valued at $5,414,609. 19.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bain Capital Life Sciences Investors LLC acquired a new stake in Olema Pharmaceuticals during the 4th quarter worth $43,551,000. Avoro Capital Advisors LLC acquired a new stake in Olema Pharmaceuticals during the 4th quarter worth $9,631,000. Boxer Capital Management LLC acquired a new stake in Olema Pharmaceuticals during the 4th quarter worth $3,790,000. Wellington Management Group LLP boosted its stake in Olema Pharmaceuticals by 52.1% during the 4th quarter. Wellington Management Group LLP now owns 1,525,484 shares of the company’s stock worth $8,839,000 after purchasing an additional 522,799 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in Olema Pharmaceuticals by 14.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,687,374 shares of the company’s stock worth $44,027,000 after purchasing an additional 475,447 shares during 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.