ACT Capital Management LLC Takes $1.34 Million Position in Olema Pharmaceuticals, Inc. $OLMA

ACT Capital Management LLC acquired a new stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 53,500 shares of the company’s stock, valued at approximately $1,338,000. Olema Pharmaceuticals comprises approximately 1.1% of ACT Capital Management LLC’s holdings, making the stock its 19th biggest position. ACT Capital Management LLC owned 0.08% of Olema Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in OLMA. AQR Capital Management LLC acquired a new position in shares of Olema Pharmaceuticals during the first quarter valued at about $172,000. Goldman Sachs Group Inc. lifted its position in shares of Olema Pharmaceuticals by 93.6% during the first quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock valued at $2,787,000 after purchasing an additional 358,412 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Olema Pharmaceuticals by 216.8% during the first quarter. Jane Street Group LLC now owns 138,552 shares of the company’s stock valued at $521,000 after purchasing an additional 94,815 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Olema Pharmaceuticals by 22.4% during the second quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock valued at $5,650,000 after purchasing an additional 242,997 shares in the last quarter. Finally, Creative Planning bought a new position in shares of Olema Pharmaceuticals during the second quarter valued at about $83,000. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Olema Pharmaceuticals Stock Up 2.7%

OLMA opened at $9.44 on Thursday. The company’s 50-day moving average price is $13.62 and its two-hundred day moving average price is $20.16. The company has a quick ratio of 10.88, a current ratio of 10.88 and a debt-to-equity ratio of 0.01. Olema Pharmaceuticals, Inc. has a twelve month low of $3.90 and a twelve month high of $36.26. The stock has a market cap of $824.58 million, a price-to-earnings ratio of -4.67 and a beta of 1.98.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.52) EPS for the quarter, hitting analysts’ consensus estimates of ($0.52). As a group, equities analysts expect that Olema Pharmaceuticals, Inc. will post -2.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Tuesday, April 21st. JPMorgan Chase & Co. raised their price target on shares of Olema Pharmaceuticals from $55.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. TD Cowen reissued a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, March 9th. Guggenheim dropped their price target on shares of Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Finally, Wolfe Research assumed coverage on shares of Olema Pharmaceuticals in a research report on Friday, March 27th. They set a “peer perform” rating on the stock. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.10.

About Olema Pharmaceuticals

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.