10% owner Paradigm Biocapital sells 2,400,000 shares (75.4% of stake) at $14.92, reducing holding to 783.1K shares
Paradigm Biocapital Advisors LP, a 10% stakeholder, executed 2 separate sales totaling 2,400,000 shares for $35,796,000.01 at a blended average price of $14.92 on August 1, 2024, liquidating three-quarters of its position from 3,183,118 shares to 783,118 shares. This represents a substantial reduction in concentrated ownership during a period of recovery in OLMA's stock—the company trades at $13.87, up 30.0% over 30 days and 23.4% over 90 days. The sale occurred at a premium to the current price ($14.92 vs. $13.87), though well below the 52-week high of $17.14. Paradigm's prior purchase at this ticker in December 2023 delivered a 90-day return of +19.2%, but this significant liquidation warrants scrutiny regarding institutional confidence in the company's near-term prospects, particularly given OLMA's fundamental position: the company posted a net loss of $-30,970,000.00 over its most recent full fiscal year and remains unprofitable.