SAN FRANCISCO – Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) director Cyrus Harmon has sold a total of 25,000 shares of the company, in a series of transactions valued at approximately $257,450. The sales were conducted under a prearranged 10b5-1 trading plan, a tool for company insiders to sell shares in a predetermined manner.
The transactions, which took place between May 31 and June 4, saw Harmon selling shares at prices ranging from $9.41 to $12.33. On May 31, Harmon sold 15,000 shares at an average price of $9.41, followed by a sale of 5,000 shares on June 3 at an average price of $10.93, and another 5,000 shares on June 4 at an average price of $12.33.
Following these transactions, Harmon still holds a significant number of shares in Olema Pharmaceuticals. Investors can obtain detailed information about the exact number of shares sold at each price point upon request to the SEC, the issuer, or any security holder of the issuer.
Olema Pharmaceuticals is a biopharmaceutical company focused on the discovery and development of targeted therapies for women's cancers. The recent transactions by a company director may be of interest to current and potential investors, providing insight into insider activity within the company.
The shares mentioned are held indirectly by Harmon through the Harmon Family Investors LLC, where he serves as the manager, highlighting the importance of understanding the nature of ownership when evaluating insider transactions.
The sales were executed in compliance with all applicable securities laws, and the remaining shares owned by Cyrus Harmon following the transactions underscore his continued investment in the company's future.
InvestingPro Insights
In light of the recent insider trading activity at Olema Pharmaceuticals, Inc. (NASDAQ:OLMA), investors may be seeking additional context to better understand the company's financial health and market performance. InvestingPro data shows a market capitalization of $780.27 million USD, indicating the size and scale of the company within the biopharmaceutical sector. Notably, the company's Price/Earnings (P/E) Ratio stands at -6.81, reflecting market expectations of future earnings growth despite current unprofitability.
Adding to the financial picture, Olema Pharmaceuticals has experienced significant stock price movements, with a 1 Year Price Total Return of 135.13%, showcasing a strong return over the past year. This is complemented by a 1 Week Price Total Return of 44.97%, which may align with the recent insider transactions by director Cyrus Harmon.
InvestingPro Tips suggest that Olema Pharmaceuticals holds more cash than debt on its balance sheet, which could be a reassuring signal for investors considering the company's financial resilience. Additionally, the fact that 3 analysts have revised their earnings upwards for the upcoming period may indicate a positive outlook on the company's future performance. For investors interested in deeper analysis, there are over 10 additional InvestingPro Tips available, offering insights such as gross profit margins and net income expectations for Olema Pharmaceuticals. These can be explored further by visiting the InvestingPro platform.
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