State Street Corp Boosts Holdings in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

State Street Corp increased its position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,969,963 shares of the company’s stock after buying an additional 21,986 shares during the quarter. State Street Corp owned about 3.44% of Olema Pharmaceuticals worth $23,521,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. raised its position in Olema Pharmaceuticals by 67.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock valued at $132,000 after purchasing an additional 4,442 shares during the period. Portland Investment Counsel Inc. purchased a new stake in Olema Pharmaceuticals in the 3rd quarter valued at about $143,000. Cubist Systematic Strategies LLC acquired a new position in Olema Pharmaceuticals in the second quarter valued at about $145,000. SG Americas Securities LLC acquired a new position in Olema Pharmaceuticals in the third quarter valued at about $156,000. Finally, Ensign Peak Advisors Inc boosted its stake in Olema Pharmaceuticals by 6.1% during the second quarter. Ensign Peak Advisors Inc now owns 14,849 shares of the company’s stock worth $161,000 after buying an additional 850 shares during the period. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Olema Pharmaceuticals Price Performance

NASDAQ OLMA opened at $6.10 on Monday. The company has a market cap of $349.52 million, a P/E ratio of -2.79 and a beta of 1.92. The stock has a 50-day moving average of $10.17 and a two-hundred day moving average of $11.71. Olema Pharmaceuticals, Inc. has a 1-year low of $5.56 and a 1-year high of $16.77.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday, December 11th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $27.00.

Insiders Place Their Bets

In related news, insider David C. Myles sold 12,452 shares of Olema Pharmaceuticals stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $9.38, for a total value of $116,799.76. Following the completion of the transaction, the insider now owns 611,947 shares in the company, valued at $5,740,062.86. The trade was a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director G. Walmsley Graham sold 700,761 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $6.75, for a total transaction of $4,730,136.75. The disclosure for this sale can be found here. Insiders have sold a total of 773,797 shares of company stock worth $5,414,609 in the last ninety days. 19.40% of the stock is owned by corporate 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.