Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Shares Sold by Logos Global Management LP

Logos Global Management LP lowered its position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 26.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,208,875 shares of the company’s stock after selling 1,175,000 shares during the period. Olema Pharmaceuticals comprises approximately 2.8% of Logos Global Management LP’s investment portfolio, making the stock its 10th biggest position. Logos Global Management LP owned approximately 5.74% of Olema Pharmaceuticals worth $34,720,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Olema Pharmaceuticals by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,715,420 shares of the company’s stock worth $24,069,000 after purchasing an additional 21,420 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Olema Pharmaceuticals by 74.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock worth $13,817,000 after purchasing an additional 521,562 shares during the last quarter. Candriam S.C.A. raised its position in shares of Olema Pharmaceuticals by 199.9% during the 2nd quarter. Candriam S.C.A. now owns 1,058,673 shares of the company’s stock worth $11,454,000 after purchasing an additional 705,655 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Olema Pharmaceuticals by 26.9% during the 2nd quarter. Victory Capital Management Inc. now owns 774,792 shares of the company’s stock worth $8,383,000 after purchasing an additional 164,143 shares during the last quarter. Finally, First Light Asset Management LLC acquired a new position in shares of Olema Pharmaceuticals during the 4th quarter worth about $8,854,000. Institutional investors and hedge funds own 91.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. Oppenheimer reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $27.00.

Olema Pharmaceuticals Price Performance

Olema Pharmaceuticals stock opened at $12.98 on Tuesday. The firm has a 50 day simple moving average of $13.07 and a 200-day simple 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 stock has a market cap of $743.36 million, a price-to-earnings ratio of -6.43 and a beta of 2.03.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.54) earnings per share for the quarter, meeting the consensus estimate of ($0.54). Equities analysts expect that Olema Pharmaceuticals, Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Transactions at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $12.26, for a total value of $61,300.00. Following the transaction, the director now directly owns 756,283 shares in the company, valued at approximately $9,272,029.58. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 5,000 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $12.26, for a total transaction of $61,300.00. Following the sale, the director now directly owns 756,283 shares in the company, valued at approximately $9,272,029.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $14.91, for a total transaction of $35,784,000.00. Following the sale, the insider now owns 783,118 shares in the company, valued at $11,676,289.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,429,066 shares of company stock worth $36,124,048. 19.40% of the stock is currently owned by insiders.

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.