The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Olema Pharmaceuticals Inc shares valued at $35,796,000 were sold by Paradigm Biocapital Advisors L on Aug 01 ’24. At $14.91 per share, Paradigm Biocapital Advisors L sold 2,400,000 shares. The insider’s holdings dropped to 783,118 shares worth approximately $9.33 million following the completion of this transaction.
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Also, Harmon Cyrus sold 4,066 shares, netting a total of over 63,348 in proceeds. Following the sale of shares at $15.58 each, the insider now holds 752,217 shares.
Before that, Harmon Cyrus had sold 934 shares from its account. In a trade valued at $14,524, the Director traded Olema Pharmaceuticals Inc shares for $15.55 each. Upon closing the transaction, the insider’s holdings decreased to 934 shares, worth approximately $8.95 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 drop of approximately -3.17%. Over the course of the year, Olema Pharmaceuticals Inc shares have dropped approximately -15.11%. Shares of the company reached a 52-week high of $16.77 on 02/13/24 and a 52-week low of $8.51 on 05/24/24. A 50-day SMA is recorded $12.08, while a 200-day SMA reached $12.13. Nevertheless, trading volume fell to 0.57 million shares from 0.24 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 11.61, which, if violated, would cause prices to drop to 11.30. In the upper region, resistance lies at 12.52. The next price resistance is at 13.12. RSI (Relative Strength Index) is 47.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.34, which suggests the price will decrease in the coming days. Percent R is at 49.46%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
