Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Major Shareholder Acquires $1,728,000.00 in Stock

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) major shareholder Bain Capital Life Sciences Inv purchased 300,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was bought at an average price of $5.76 per share, for a total transaction of $1,728,000.00. Following the purchase, the insider now owns 7,800,000 shares in the company, valued at approximately $44,928,000. This represents a 4.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ OLMA traded down $0.20 during mid-day trading on Monday, hitting $4.84. 981,563 shares of the company’s stock traded hands, compared to its average volume of 1,431,138. Olema Pharmaceuticals, Inc. has a 1 year low of $4.60 and a 1 year high of $16.77. The company’s 50-day moving average is $8.35 and its two-hundred day moving average is $11.01. The company has a market capitalization of $277.32 million, a P/E ratio of -2.21 and a beta of 2.05.

Institutional Investors Weigh In On Olema Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OLMA. Conway Capital Management Inc. purchased a new position in shares of Olema Pharmaceuticals in the 3rd quarter worth approximately $119,000. China Universal Asset Management Co. Ltd. lifted its position in Olema Pharmaceuticals by 67.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock worth $132,000 after buying an additional 4,442 shares during the last quarter. Portland Investment Counsel Inc. purchased a new position in Olema Pharmaceuticals during the third quarter worth $143,000. Cubist Systematic Strategies LLC bought a new position in Olema Pharmaceuticals during the second quarter valued at $145,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Olema Pharmaceuticals in the third quarter valued at $156,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a research note on Wednesday, December 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Olema Pharmaceuticals has a consensus rating of “Buy” and an average target price of $27.00.

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.