Rhumbline Advisers Buys 17,953 Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Rhumbline Advisers lifted its stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 43.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,261 shares of the company’s stock after buying an additional 17,953 shares during the quarter. Rhumbline Advisers owned about 0.11% of Olema Pharmaceuticals worth $641,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its position in shares of Olema Pharmaceuticals by 72.1% during the second quarter. Bank of New York Mellon Corp now owns 139,923 shares of the company’s stock worth $1,514,000 after purchasing an additional 58,622 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Olema Pharmaceuticals during the second quarter worth about $945,000. California State Teachers Retirement System grew its position in shares of Olema Pharmaceuticals by 3.4% during the first quarter. California State Teachers Retirement System now owns 34,695 shares of the company’s stock worth $393,000 after purchasing an additional 1,132 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Olema Pharmaceuticals by 74.5% during the first 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Olema Pharmaceuticals by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,251 shares of the company’s stock worth $298,000 after purchasing an additional 1,486 shares in the last quarter. Institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Stock Down 2.8 %

Shares of NASDAQ OLMA opened at $12.62 on Wednesday. The business has a fifty day simple moving average of $13.07 and a two-hundred day simple moving average of $11.76. The firm has a market cap of $705.89 million, a PE ratio of -6.25 and a beta of 2.03. Olema Pharmaceuticals, Inc. has a twelve month low of $8.51 and a twelve month high of $17.79.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.54) earnings per share (EPS) for the quarter, meeting 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.

Insider Buying and Selling

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 20,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $10.77, for a total transaction of $215,400.00. Following 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 document filed with the SEC, which can be accessed through the SEC website. In related news, Director Cyrus Harmon sold 20,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $10.77, for a total value of $215,400.00. Following the completion of the transaction, the director now owns 761,283 shares of the company’s stock, valued at approximately $8,199,017.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 783,118 shares of the company’s stock, valued at approximately $11,676,289.38. The disclosure for this sale can be found here. Insiders have sold a total of 2,429,066 shares of company stock worth $36,124,048 in the last ninety days. 19.40% of the stock is owned by insiders.

Analysts Set New Price Targets

OLMA has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price target on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Oppenheimer restated an “outperform” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Olema Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $27.00.

Olema Pharmaceuticals 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.