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Sean Bohen, President and CEO of Olema Prescribed drugs, Inc. (NASDAQ:OLMA), just lately offered shares within the firm totaling $986,365. The transactions had been reported in a submitting with the Securities and Change Fee. The gross sales come because the inventory has declined 18% up to now week, although InvestingPro evaluation suggests the corporate stays undervalued at its present $493.56 million market capitalization.
On December 10, Bohen offered 52,328 shares at a median value of $9.37. The sale continued on December 11, with an extra 55,907 shares offered at a median value of $8.66, adopted by a smaller transaction of 1,267 shares at $9.39 per share.
These gross sales had been carried out to cowl tax obligations associated to the vesting of performance-restricted inventory items, as famous within the submitting. Following these transactions, Bohen holds 241,662 shares of Olema Prescribed drugs.
In different current information, Olema Prescribed drugs has been the topic of a number of analyst upgrades following the discharge of promising scientific and preclinical knowledge. H.C. Wainwright has reaffirmed its Purchase ranking for the corporate, with a value goal of $30.00, primarily based on the most recent research outcomes. The corporate’s Part 1b/2 research of palazestrant mixed with ribociclib for treating ER+/HER2- metastatic breast most cancers (mBC) has absolutely enrolled 62 sufferers, offering promising knowledge.
Moreover, Olema Prescribed drugs’ KAT6 inhibitor, OP-3136, has proven promising ends in preclinical knowledge, indicating elevated inhibition of T47D breast most cancers cells when mixed with different most cancers medicine. Notably, the mixture of OP-3136 with ribociclib confirmed superior inhibition. TD Cowen reiterated a Purchase ranking, inspired by the Scientific Profit Charge of 78-79% from a Part II trial involving palbociclib and ribociclib.
Jefferies additionally maintained a Purchase ranking, highlighting the potential of the corporate’s KAT6 inhibitor, OP-3136. The agency expects OP-3136 to enter Part 1 trials in early 2025. Goldman Sachs maintained its Purchase ranking on Olema Prescribed drugs, following the presentation of preclinical knowledge for OP-3136 on the EORTC-NCI-AACR Symposium. These are current developments shaping the investor sentiment round Olema Prescribed drugs.
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