HighTower Advisors LLC Takes $510,000 Position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

HighTower Advisors LLC bought a new stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 87,476 shares of the company’s stock, valued at approximately $510,000. HighTower Advisors LLC owned approximately 0.15% of Olema Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Olema Pharmaceuticals by 658.7% in the third quarter. JPMorgan Chase & Co. now owns 181,032 shares of the company’s stock valued at $2,162,000 after acquiring an additional 157,171 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Olema Pharmaceuticals by 80.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 212,246 shares of the company’s stock valued at $1,237,000 after purchasing an additional 94,651 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Olema Pharmaceuticals by 168.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 330,761 shares of the company’s stock valued at $3,949,000 after purchasing an additional 207,565 shares during the period. Wellington Management Group LLP lifted its holdings in Olema Pharmaceuticals by 10.8% in 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. Finally, Barclays PLC boosted its stake in Olema Pharmaceuticals by 105.0% in the 3rd quarter. Barclays PLC now owns 94,915 shares of the company’s stock worth $1,133,000 after purchasing an additional 48,614 shares during the period. Institutional investors own 91.78% of the company’s stock.

Insider Transactions at Olema Pharmaceuticals

In related news, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was acquired at an average cost of $5.76 per share, with a total value of $1,728,000.00. Following the purchase, 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 19.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on OLMA shares. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th. Oppenheimer reiterated an “outperform” rating and issued a $25.00 price target (down from $30.00) on shares of Olema Pharmaceuticals in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Olema Pharmaceuticals from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Friday.

Olema Pharmaceuticals Price Performance

Shares of OLMA opened at $4.11 on Monday. The stock has a market capitalization of $280.85 million, a price-to-earnings ratio of -1.88 and a beta of 2.11. Olema Pharmaceuticals, Inc. has a 1 year low of $3.93 and a 1 year high of $16.62. The business’s 50 day simple moving average is $4.98 and its 200-day simple moving average is $8.02.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings results 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. On average, sell-side analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.

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.