Squarepoint Ops LLC Has $617,000 Stock Position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Squarepoint Ops LLC lessened its stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 22.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,070 shares of the company’s stock after selling 16,519 shares during the quarter. Squarepoint Ops LLC owned approximately 0.10% of Olema Pharmaceuticals worth $617,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. First Light Asset Management LLC bought a new stake in Olema Pharmaceuticals during the fourth quarter worth $8,854,000. Perceptive Advisors LLC bought a new stake in shares of Olema Pharmaceuticals in the 4th quarter valued at about $7,574,000. Janus Henderson Group PLC lifted its stake in Olema Pharmaceuticals by 74.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock valued at $13,817,000 after purchasing an additional 521,562 shares during the last quarter. Entropy Technologies LP acquired a new stake in Olema Pharmaceuticals in the 1st quarter valued at about $161,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Olema Pharmaceuticals during the first quarter worth about $176,000. 91.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Olema Pharmaceuticals news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of Olema Pharmaceuticals stock in a transaction 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 completion of the transaction, the insider now directly owns 783,118 shares of the company’s stock, valued at $11,676,289.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were 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 approximately $11,676,289.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Cyrus Harmon sold 4,066 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $15.58, for a total value of $63,348.28. Following the completion of the sale, the director now directly owns 752,217 shares in the company, valued at approximately $11,719,540.86. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,409,066 shares of company stock valued at $35,908,648 over the last 90 days. 19.40% of the stock is owned by corporate insiders.

Olema Pharmaceuticals Price Performance

OLMA opened at $11.40 on Wednesday. The business has a fifty day simple moving average of $12.51 and a 200 day simple moving average of $11.77. 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 $637.65 million, a PE ratio of -5.64 and a beta of 2.02.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $30.00 price objective 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 MarketBeat, Olema Pharmaceuticals has an average rating of “Buy” and an average price target of $27.00.

About Olema Pharmaceuticals

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.