JPMorgan Chase & Co. Buys 157,171 Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

JPMorgan Chase & Co. lifted its stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 658.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 181,032 shares of the company’s stock after acquiring an additional 157,171 shares during the period. JPMorgan Chase & Co. owned approximately 0.32% of Olema Pharmaceuticals worth $2,162,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in OLMA. Point72 Asset Management L.P. bought a new stake in shares of Olema Pharmaceuticals during the 2nd quarter worth $34,753,000. Great Point Partners LLC bought a new stake in shares of Olema Pharmaceuticals during the 2nd quarter worth $8,622,000. Affinity Asset Advisors LLC bought a new stake in Olema Pharmaceuticals in the second quarter worth $2,976,000. Charles Schwab Investment Management Inc. lifted its stake in Olema Pharmaceuticals by 168.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 330,761 shares of the company’s stock worth $3,949,000 after purchasing an additional 207,565 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Olema Pharmaceuticals by 10.8% in the third 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 during the last quarter. 91.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Olema Pharmaceuticals

In other news, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were purchased at an average price of $5.76 per share, for a total transaction of $1,728,000.00. Following the completion of the transaction, the insider now owns 7,800,000 shares of the company’s stock, valued at $44,928,000. The trade was a 4.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sean Bohen sold 52,328 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $9.37, for a total transaction of $490,313.36. Following the completion of the transaction, the chief executive officer now owns 298,836 shares in the company, valued at $2,800,093.32. The trade was a 14.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 773,797 shares of company stock worth $5,414,609. 19.40% of the stock is currently owned by company insiders.

Olema Pharmaceuticals Stock Down 2.8 %

Olema Pharmaceuticals stock opened at $5.50 on Wednesday. The firm has a fifty day simple moving average of $7.51 and a two-hundred day simple moving average of $10.78. Olema Pharmaceuticals, Inc. has a twelve month low of $4.60 and a twelve month high of $16.77. The company has a market capitalization of $315.15 million, a PE ratio of -2.51 and a beta of 2.05.

Analyst Ratings Changes

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

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.