Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Olema Pharmaceuticals Inc shares valued at $219,400 were sold by Harmon Cyrus on Mar 28 ’24. At $10.97 per share, Harmon Cyrus sold 20,000 shares. The insider’s holdings dropped to 826,283 shares worth approximately $9.54 million following the completion of this transaction.
Also, Harmon Cyrus sold 25,000 shares, netting a total of over 310,309 in proceeds. Following the sale of shares at $12.41 each, the insider now holds 846,283 shares.
Before that, Harmon Cyrus had sold 5,000 shares from its account. In a trade valued at $77,800, the Director traded Olema Pharmaceuticals Inc shares for $15.56 each. Upon closing the transaction, the insider’s holdings decreased to 5,000 shares, worth approximately $10.06 million.
As published in their initiating research note from Goldman on April 02, 2024, Olema Pharmaceuticals Inc [OLMA] has been a Buy and the price target has been revised to $24. Analysts at Citigroup started covering the stock with ‘”a Buy”‘ outlook in a report released in late January. As of July 21, 2023, Oppenheimer has initiated its “an Outperform” rating for OLMA. Earlier on May 05, 2023, CapitalOne initiated its rating. Their recommendation was “an Overweight” for OLMA stock.
Analyzing OLMA Stock Performance
During the last five days, there has been a surge of approximately 9.90%. Over the course of the year, Olema Pharmaceuticals Inc shares have dropped approximately -17.68%. Shares of the company reached a 52-week high of $16.77 on 02/13/24 and a 52-week low of $10.39 on 04/04/24. A 50-day SMA is recorded $13.02, while a 200-day SMA reached $12.06. Nevertheless, trading volume fell to 0.64 million shares from 0.69 million shares the previous day.
Support And Resistance Levels for Olema Pharmaceuticals Inc (OLMA)
According to the 24-hour chart, there is a support level at 11.11, which, if violated, would cause prices to drop to 10.67. In the upper region, resistance lies at 11.78. The next price resistance is at 12.01. RSI (Relative Strength Index) is 48.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.27, which suggests the price will decrease in the coming days. Percent R is at 7.94%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Olema Pharmaceuticals Inc subject to short interest?
Stocks of Olema Pharmaceuticals Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -1.12 million shares to 5.06 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 6.18 million shares. A decline of -22.13% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.19 of the overall float, the days-to-cover ratio (short ratio) decline to 5.19.
