Olema Pharmaceuticals (NASDAQ:OLMA) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Olema Pharmaceuticals (NASDAQ:OLMA) in a report released on Wednesday,Benzinga reports. HC Wainwright currently has a $30.00 target price on the stock.

Olema Pharmaceuticals Stock Performance

Shares of Olema Pharmaceuticals stock opened at $4.26 on Wednesday. Olema Pharmaceuticals has a one year low of $4.07 and a one year high of $16.62. The company has a market cap of $244.09 million, a price-to-earnings ratio of -1.95 and a beta of 2.11. The business’s 50 day moving average price is $5.42 and its 200 day moving average price is $8.96.

Insider Buying and Selling

In other Olema Pharmaceuticals news, CEO Sean Bohen sold 52,328 shares of Olema Pharmaceuticals stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $9.37, for a total value of $490,313.36. Following the sale, the chief executive officer now owns 298,836 shares in the company, valued at $2,800,093.32. The trade was a 14.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David C. Myles sold 12,452 shares of Olema Pharmaceuticals stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $9.38, for a total value of $116,799.76. Following the completion of the sale, the insider now owns 611,947 shares in the company, valued at $5,740,062.86. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 773,797 shares of company stock worth $5,414,609. 19.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. KLP Kapitalforvaltning AS acquired a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at $30,000. Hsbc Holdings PLC acquired a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at $58,000. Teacher Retirement System of Texas acquired a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at $60,000. Vontobel Holding Ltd. acquired a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at $62,000. Finally, Virtus ETF Advisers LLC grew its stake in shares of Olema Pharmaceuticals by 43.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 10,579 shares of the company’s stock valued at $62,000 after buying an additional 3,185 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.