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

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

Olema Pharmaceuticals Stock Performance

Olema Pharmaceuticals stock opened at $4.26 on Wednesday. The stock has a 50-day moving average of $5.42 and a two-hundred day moving average of $8.96. Olema Pharmaceuticals has a one year low of $4.07 and a one year high of $16.62. The stock has a market cap of $244.09 million, a PE ratio of -1.95 and a beta of 2.11.

Insider Transactions at Olema Pharmaceuticals

In other news, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of Olema Pharmaceuticals stock in a transaction dated Wednesday, January 8th. The stock was purchased at an average cost of $5.76 per share, for a total transaction of $1,728,000.00. Following the completion of the purchase, the insider now directly owns 7,800,000 shares in the company, valued at $44,928,000. This trade represents a 4.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sean Bohen sold 52,328 shares of the firm’s stock in a transaction dated 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 directly owns 298,836 shares in the company, valued at approximately $2,800,093.32. This trade represents a 14.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 773,797 shares of company stock worth $5,414,609 over the last three months. 19.40% of the stock is currently owned by insiders.

Institutional Trading of Olema Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. KLP Kapitalforvaltning AS acquired a new stake in Olema Pharmaceuticals during the fourth quarter worth about $30,000. Hsbc Holdings PLC acquired a new stake in shares of Olema Pharmaceuticals in the fourth quarter worth approximately $58,000. Teacher Retirement System of Texas acquired a new stake in shares of Olema Pharmaceuticals in the fourth quarter worth approximately $60,000. Vontobel Holding Ltd. acquired a new stake in shares of Olema Pharmaceuticals in the fourth quarter worth approximately $62,000. Finally, Virtus ETF Advisers LLC boosted 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 worth $62,000 after acquiring an additional 3,185 shares during the last quarter. 91.78% of the stock is owned by institutional investors and hedge funds.

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.