Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Sees Large Decrease in Short Interest

Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Get Free Report) saw a significant decrease in short interest in the month of 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 trading volume of 1,070,000 shares, the short-interest ratio is presently 7.9 days.

Insider Buying and Selling at Olema Pharmaceuticals

In other news, 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 cost of $5.76 per share, for a total transaction of $1,728,000.00. Following the completion of the acquisition, the insider now directly owns 7,800,000 shares of the company's stock, valued at approximately $44,928,000. The trade was a 4.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sean Bohen sold 52,328 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $9.37, for a total transaction of $490,313.36. Following the sale, the chief executive officer now owns 298,836 shares of the company's stock, valued at $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 773,797 shares of company stock worth $5,414,609 over the last ninety days. Company insiders own 19.40% of the company's stock.

Institutional Investors Weigh In On Olema Pharmaceuticals

Several hedge funds have recently made changes to their positions in OLMA. JPMorgan Chase & Co. lifted its stake in Olema Pharmaceuticals by 658.7% during the third quarter. JPMorgan Chase & Co. now owns 181,032 shares of the company's stock worth $2,162,000 after purchasing an additional 157,171 shares during the period. Victory Capital Management Inc. lifted its stake in Olema Pharmaceuticals by 9.9% during the third quarter. Victory Capital Management Inc. now owns 851,512 shares of the company's stock worth $10,167,000 after purchasing an additional 76,720 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in Olema Pharmaceuticals by 80.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 212,246 shares of the company's stock worth $1,237,000 after purchasing an additional 94,651 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Olema Pharmaceuticals by 168.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 330,761 shares of the company's stock worth $3,949,000 after purchasing an additional 207,565 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Olema Pharmaceuticals by 10.8% during the third quarter. Wellington Management Group LLP now owns 1,002,685 shares of the company's stock worth $11,972,000 after purchasing an additional 97,428 shares during the period. Institutional investors own 91.78% of the company's stock.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ OLMA traded up $0.07 during mid-day trading on Tuesday, hitting $5.04. The company had a trading volume of 560,250 shares, compared to its average volume of 1,170,060. The business's 50-day simple moving average is $5.83 and its 200-day simple moving average is $9.55. Olema Pharmaceuticals has a 12 month low of $4.60 and a 12 month high of $16.62. The firm has a market cap of $288.79 million, a P/E ratio of -2.30 and a beta of 2.05.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a "buy" rating and set a $30.00 price target 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 MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $28.75.

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.