Candriam S.C.A. Increases Stock Position in Olema Pharmaceuticals, Inc. $OLMA

Candriam S.C.A. raised its stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 46.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,249,727 shares of the company’s stock after acquiring an additional 399,273 shares during the period. Candriam S.C.A. owned 1.82% of Olema Pharmaceuticals worth $12,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC acquired a new position in shares of Olema Pharmaceuticals in the 1st quarter valued at $172,000. Goldman Sachs Group Inc. grew its stake in shares of Olema Pharmaceuticals by 93.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock worth $2,787,000 after purchasing an additional 358,412 shares during the period. Jane Street Group LLC increased its holdings in Olema Pharmaceuticals by 216.8% in the first quarter. Jane Street Group LLC now owns 138,552 shares of the company’s stock valued at $521,000 after buying an additional 94,815 shares in the last quarter. FNY Investment Advisers LLC increased its stake in Olema Pharmaceuticals by 100.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $42,000 after purchasing an additional 5,000 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Olema Pharmaceuticals by 21.1% during the 2nd quarter. ProShare Advisors LLC now owns 14,766 shares of the company’s stock worth $63,000 after buying an additional 2,569 shares during the last quarter. Institutional investors and hedge funds own 91.78% of the company’s stock.

Olema Pharmaceuticals Stock Performance

OLMA stock opened at $23.37 on Wednesday. The stock’s 50 day simple moving average is $27.30 and its 200 day simple moving average is $15.91. The company has a current ratio of 8.03, a quick ratio of 8.03 and a debt-to-equity ratio of 0.01. Olema Pharmaceuticals, Inc. has a 12-month low of $2.86 and a 12-month high of $36.26. The firm has a market cap of $1.60 billion, a P/E ratio of -12.50 and a beta of 1.89.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.05). As a group, equities research analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Wall Street Analyst Weigh In

OLMA has been the subject of several research reports. The Goldman Sachs Group lifted their price objective on Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research note on Thursday, January 22nd. Oppenheimer increased their target price on Olema Pharmaceuticals from $45.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. HC Wainwright raised their price target on shares of Olema Pharmaceuticals from $36.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, UBS Group initiated coverage on Olema Pharmaceuticals in a research note on Wednesday, January 7th. They set a “buy” rating and a $45.00 price objective on the stock. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Olema Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $41.00.

Insiders Place Their Bets

In other news, Director Cyrus Harmon sold 10,000 shares of the stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $26.88, for a total value of $268,800.00. Following the completion of the transaction, the director owned 727,770 shares of the company’s stock, valued at approximately $19,562,457.60. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Shane William Charles Kovacs sold 100,000 shares of Olema Pharmaceuticals stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the sale, the insider owned 139,727 shares in the company, valued at approximately $4,014,356.71. This represents a 41.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 765,501 shares of company stock valued at $22,052,432 in the last quarter. 16.36% of the stock is owned by insiders.

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.