Great Point Partners LLC Takes Position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Great Point Partners LLC bought a new stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 796,880 shares of the company’s stock, valued at approximately $8,622,000. Olema Pharmaceuticals accounts for 1.7% of Great Point Partners LLC’s investment portfolio, making the stock its 23rd largest holding. Great Point Partners LLC owned about 1.42% of Olema Pharmaceuticals at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ensign Peak Advisors Inc boosted its stake in shares of Olema Pharmaceuticals by 6.1% in the 2nd quarter. Ensign Peak Advisors Inc now owns 14,849 shares of the company’s stock valued at $161,000 after buying an additional 850 shares during the period. California State Teachers Retirement System lifted its stake in Olema Pharmaceuticals by 3.4% in the first quarter. California State Teachers Retirement System now owns 34,695 shares of the company’s stock worth $393,000 after acquiring an additional 1,132 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Olema Pharmaceuticals by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,251 shares of the company’s stock worth $298,000 after acquiring an additional 1,486 shares in the last quarter. ClariVest Asset Management LLC increased its position in shares of Olema Pharmaceuticals by 3.1% in the 2nd quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company’s stock valued at $683,000 after purchasing an additional 1,881 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in shares of Olema Pharmaceuticals by 66.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,562 shares of the company’s stock valued at $120,000 after purchasing an additional 4,221 shares in the last quarter. 91.78% of the stock is owned by institutional investors and hedge funds.

Olema Pharmaceuticals Price Performance

NASDAQ OLMA opened at $12.98 on Tuesday. The company has a fifty day moving average of $13.07 and a two-hundred day moving average of $11.76. Olema Pharmaceuticals, Inc. has a 1 year low of $8.51 and a 1 year high of $17.79. The company has a market capitalization of $743.36 million, a PE ratio of -6.43 and a beta of 2.03.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.54). On average, research analysts expect that Olema Pharmaceuticals, Inc. will post -1.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

OLMA has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. Finally, Oppenheimer reissued an “outperform” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Olema Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $27.00.

Insider Transactions at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 20,000 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $10.77, for a total value of $215,400.00. Following the completion of the sale, the director now owns 761,283 shares in the company, valued at approximately $8,199,017.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $14.91, for a total value of $35,784,000.00. Following the transaction, the insider now owns 783,118 shares of the company’s stock, valued at $11,676,289.38. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Cyrus Harmon sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $10.77, for a total value of $215,400.00. Following the sale, the director now owns 761,283 shares of the company’s stock, valued at approximately $8,199,017.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,429,066 shares of company stock worth $36,124,048. Insiders own 19.40% of the company’s stock.

Olema Pharmaceuticals Company Profile

Olema Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for women’s cancers. Its lead product candidate is OP-1250, an estrogen receptor (ER) antagonist and a selective ER degrader, which is in Phase 3 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer; and OP-1250 combine with CDK4/6 inhibitors palbociclib, ribociclib, and alpelisib in Phase 1/2 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive human epidermal growth factor receptor 2-negative breast cancer, as well as develops OPERA-01 for the of ER+/HER2- advanced or metastatic breast cancer.