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

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) saw a large decrease in short interest in January. As of January 31st, there was short interest totalling 8,410,000 shares, a decrease 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.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $28.75.

Insider Activity at Olema Pharmaceuticals

In other news, Director G. Walmsley Graham sold 700,761 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $6.75, for a total value of $4,730,136.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bain Capital Life Sciences Inv purchased 300,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was bought at an average cost of $5.76 per share, for a total transaction of $1,728,000.00. Following the acquisition, the insider now directly owns 7,800,000 shares in the company, valued at approximately $44,928,000. The trade was a 4.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety 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 Inflows and Outflows

Large investors have recently bought and sold shares of the business. KLP Kapitalforvaltning AS bought a new stake in shares of Olema Pharmaceuticals in the fourth quarter worth approximately $30,000. Conway Capital Management Inc. bought a new stake in shares of Olema Pharmaceuticals in the third quarter worth approximately $119,000. Hsbc Holdings PLC bought a new stake in shares of Olema Pharmaceuticals in the fourth quarter worth approximately $58,000. Teacher Retirement System of Texas bought a new stake in shares of Olema Pharmaceuticals in the fourth quarter worth approximately $60,000. 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 worth $62,000 after acquiring an additional 3,185 shares during the period. 91.78% of the stock is owned by hedge funds and other institutional investors.

Olema Pharmaceuticals Trading Up 2.9 %

NASDAQ OLMA traded up $0.14 during trading hours on Friday, reaching $4.97. 714,814 shares of the company’s stock traded hands, compared to its average volume of 1,102,982. Olema Pharmaceuticals has a 52-week low of $4.60 and a 52-week high of $16.62. The firm has a 50-day simple moving average of $6.01 and a 200 day simple moving average of $9.74.

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.