Victory Capital Management Inc. Sells 758,412 Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Victory Capital Management Inc. trimmed its holdings in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 89.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 93,100 shares of the company’s stock after selling 758,412 shares during the period. Victory Capital Management Inc. owned approximately 0.16% of Olema Pharmaceuticals worth $543,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Point72 Asset Management L.P. lifted its holdings in shares of Olema Pharmaceuticals by 14.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,687,374 shares of the company’s stock worth $44,027,000 after acquiring an additional 475,447 shares during the period. State Street Corp increased its position in shares of Olema Pharmaceuticals by 1.1% during the 3rd quarter. State Street Corp now owns 1,969,963 shares of the company’s stock worth $23,521,000 after purchasing an additional 21,986 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Olema Pharmaceuticals by 10.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,002,685 shares of the company’s stock worth $11,972,000 after purchasing an additional 97,428 shares in the last quarter. Great Point Partners LLC increased its position in shares of Olema Pharmaceuticals by 25.5% during the 3rd quarter. Great Point Partners LLC now owns 1,000,000 shares of the company’s stock worth $11,940,000 after purchasing an additional 203,120 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Olema Pharmaceuticals by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 332,950 shares of the company’s stock worth $1,941,000 after purchasing an additional 2,189 shares in the last quarter. 91.78% of the stock is owned by institutional investors.

Olema Pharmaceuticals Price Performance

Olema Pharmaceuticals stock opened at $4.23 on Friday. The company’s 50 day simple moving average is $5.09 and its 200 day simple moving average is $8.35. Olema Pharmaceuticals, Inc. has a fifty-two week low of $3.94 and a fifty-two week high of $16.62. The firm has a market capitalization of $242.37 million, a price-to-earnings ratio of -1.93 and a beta of 2.11.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.12. As a group, analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Insider Buying and Selling at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were bought at an average cost of $5.76 per share, for a total transaction of $1,728,000.00. Following the completion of the acquisition, the insider now directly owns 7,800,000 shares of the company’s stock, valued at approximately $44,928,000. This trade represents a 4.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 19.40% of the company’s stock.

Wall Street Analyst Weigh In

OLMA has been the subject of several research reports. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday. Oppenheimer reaffirmed an “outperform” rating and issued a $25.00 target price (down previously from $30.00) on shares of Olema Pharmaceuticals in a research note on Wednesday.

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.