Olema Pharmaceuticals (NASDAQ:OLMA) Receives Buy Rating from HC Wainwright

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $30.00 target price on the stock.

Olema Pharmaceuticals Price Performance

Olema Pharmaceuticals stock traded down $0.07 during midday trading on Tuesday, reaching $4.35. 560,124 shares of the company traded hands, compared to its average volume of 1,050,521. The firm has a market capitalization of $249.07 million, a price-to-earnings ratio of -1.98 and a beta of 2.11. The business has a 50 day moving average of $5.33 and a two-hundred day moving average of $8.77. Olema Pharmaceuticals has a 12 month low of $3.95 and a 12 month high of $16.62.

Insider Activity at Olema Pharmaceuticals

In other news, major shareholder Bain Capital Life Sciences Inv bought 300,000 shares of Olema Pharmaceuticals stock in a transaction that occurred on Wednesday, January 8th. The stock was bought at an average cost of $5.76 per share, with a total value of $1,728,000.00. Following the acquisition, the insider now owns 7,800,000 shares of the company's stock, valued at $44,928,000. The trade was a 4.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director G. Walmsley Graham sold 700,761 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $6.75, for a total transaction of $4,730,136.75. The disclosure for this sale can be found here. 19.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Bain Capital Life Sciences Investors LLC purchased a new position in shares of Olema Pharmaceuticals during the fourth quarter valued at about $43,551,000. Lightspeed Management Company L.L.C. purchased a new stake in shares of Olema Pharmaceuticals during the 4th quarter worth approximately $11,257,000. Paradigm Biocapital Advisors LP boosted its position in shares of Olema Pharmaceuticals by 32.7% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,304,970 shares of the company's stock valued at $42,588,000 after acquiring an additional 1,801,370 shares during the last quarter. Avoro Capital Advisors LLC purchased a new position in shares of Olema Pharmaceuticals in the fourth quarter valued at $9,631,000. Finally, Millennium Management LLC increased its position in Olema Pharmaceuticals by 1,154.4% in the fourth quarter. Millennium Management LLC now owns 979,219 shares of the company's stock worth $5,709,000 after purchasing an additional 901,159 shares during the last quarter. 91.78% of the stock is owned by hedge funds and other institutional investors.

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.

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