Eventide Asset Management LLC Makes New Investment in Olema Pharmaceuticals, Inc. $OLMA

Eventide Asset Management LLC purchased a new position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 569,000 shares of the company’s stock, valued at approximately $14,225,000. Eventide Asset Management LLC owned 0.83% of Olema Pharmaceuticals as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. Entropy Technologies LP purchased a new position in Olema Pharmaceuticals during the fourth quarter worth approximately $433,000. Barclays PLC raised its stake in Olema Pharmaceuticals by 27.2% during the fourth quarter. Barclays PLC now owns 133,125 shares of the company’s stock worth $3,328,000 after purchasing an additional 28,501 shares during the period. Marshall Wace LLP purchased a new position in Olema Pharmaceuticals during the fourth quarter worth approximately $9,010,000. The Manufacturers Life Insurance Company raised its stake in Olema Pharmaceuticals by 398.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 102,322 shares of the company’s stock worth $2,564,000 after purchasing an additional 81,781 shares during the period. Finally, Rafferty Asset Management LLC purchased a new position in Olema Pharmaceuticals during the fourth quarter worth approximately $1,125,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of Olema Pharmaceuticals from $55.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. Citigroup increased their price objective on shares of Olema Pharmaceuticals from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, March 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Olema Pharmaceuticals in a research report on Tuesday, April 21st. Jefferies Financial Group assumed coverage on shares of Olema Pharmaceuticals in a research report on Thursday, March 19th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Wall Street Zen raised shares of Olema Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Monday, April 27th. Eleven 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 stock currently has an average rating of “Moderate Buy” and an average target price of $44.10.

Olema Pharmaceuticals Price Performance

Olema Pharmaceuticals stock opened at $9.87 on Monday. Olema Pharmaceuticals, Inc. has a 52-week low of $3.89 and a 52-week high of $36.26. The firm has a fifty day moving average of $13.96 and a 200-day moving average of $20.54. The firm has a market capitalization of $862.14 million, a P/E ratio of -4.89 and a beta of 1.98. 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 (NASDAQ:OLMA) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.52). As a group, analysts predict that Olema Pharmaceuticals, Inc. will post -2.16 EPS for the current year.

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.