SAN FRANCISCO—Graham G. Walmsley, a director at Olema Pharmaceuticals, Inc. (NASDAQ:OLMA), recently executed significant stock transactions involving common shares of the company. According to a Form 4 filing with the Securities and Exchange Commission, Walmsley sold 700,761 shares at a price of $6.75 per share, amounting to a total transaction value of approximately $4.73 million. The transaction price represents a premium to the current trading price of $6.14, with the stock currently trading near its 52-week low of $6.08.
The shares were sold by Logos Opportunities Fund I LP and acquired by Logos Opportunities Fund IV LP, both of which are under the common control of Walmsley. Following these transactions, Walmsley holds 1,408,875 shares indirectly through Logos Opportunities Fund IV LP. The transactions were completed on December 17, 2024.
These transactions highlight the ongoing portfolio management activities within the investment funds associated with Walmsley, as he continues to manage his indirect holdings in Olema Pharmaceuticals.
In other recent news, Olema Pharmaceuticals continues to attract positive attention from analysts following recent developments. H.C. Wainwright has reaffirmed its Buy rating for the company, following the presentation of promising preclinical data at the EORTC-NCI-AACR Symposium. The data highlighted the potential of the company's KAT6 inhibitor, OP-3136, especially when used in combination with other cancer drugs.
Similarly, TD Cowen reiterated a Buy rating, encouraged by the Clinical Benefit Rate of 78-79% from a Phase II trial involving palbociclib and ribociclib. Jefferies also maintained a Buy rating, highlighting the potential of OP-3136, especially its superior in vivo efficacy compared to Pfizer (NYSE:PFE)'s competing KAT6 inhibitor.
Olema Pharmaceuticals presented new information from its Phase 1b/2 study of palazestrant combined with ribociclib for treating ER+/HER2- metastatic breast cancer. The study, which has now fully enrolled 62 patients, reached its data cut-off with a median follow-up of 12 months.
Furthermore, the company has increased its loan capacity to $100 million, double the previous limit of $50 million, according to a recent amendment to its Loan and Security Agreement with Silicon Valley Bank. These are recent developments shaping the investor sentiment around Olema Pharmaceuticals.
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