In a recent transaction, Cyrus Harmon, a director at Olema Pharmaceuticals, Inc. (NASDAQ:OLMA), sold 5,000 shares of the company's stock. The transaction was executed on May 6, 2024, with the shares sold at an average price of $10.92, totaling $54,600.
The sale was conducted under a 10b5-1 trading plan, which was previously established on May 16, 2023. The range of prices at which the shares were sold varied from $10.91 to $10.95. Following the sale, Harmon still holds a significant number of shares, totaling 806,283 directly owned shares, indicating continued investment in the company.
Additionally, it was disclosed that Harmon has an indirect ownership through Harmon Family Investors LLC, where he serves as the manager, holding 122,028 shares of Olema Pharmaceuticals.
Investors and the market often monitor insider transactions as they can provide insights into how the company's leadership views the stock's value and future prospects. The details of the transaction were made public through a Form 4 filing with the Securities and Exchange Commission.
Olema Pharmaceuticals is a company focused on the development of targeted therapies for women’s cancers. Its stock is publicly traded, and the company is incorporated in Delaware with its business operations based in San Francisco, California.
InvestingPro Insights
As Olema Pharmaceuticals (NASDAQ:OLMA) navigates the competitive landscape of developing targeted therapies for women's cancers, a closer look at the company's financial health and stock performance is essential for investors. According to InvestingPro data, Olema Pharmaceuticals has a market capitalization of approximately $628.7 million. The company's stock has been experiencing significant volatility, as indicated by a one-year price total return of 63.66%, highlighting a strong performance over the past year despite more recent downturns.
An InvestingPro Tip points out that Olema Pharmaceuticals has more cash than debt on its balance sheet, which could provide financial flexibility and resilience. However, the company is not currently profitable, with a negative P/E ratio of -5.21 for the last twelve months as of Q4 2023, and analysts do not expect profitability this year. This is further evidenced by a negative operating income of -$104.96 million during the same period. Moreover, the company's net income is expected to drop this year, which is a crucial factor for investors to consider.
For investors seeking comprehensive analysis and additional insights, InvestingPro offers more tips on Olema Pharmaceuticals, which could help in making informed decisions. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and gain access to a total of 9 InvestingPro Tips for Olema Pharmaceuticals.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.