Balyasny Asset Management L.P. Buys 418,492 Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Balyasny Asset Management L.P. increased its stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 59.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,127,589 shares of the company's stock after purchasing an additional 418,492 shares during the period. Balyasny Asset Management L.P. owned 1.97% of Olema Pharmaceuticals worth $6,574,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new position in shares of Olema Pharmaceuticals during the fourth quarter worth about $30,000. Hsbc Holdings PLC bought a new position in Olema Pharmaceuticals in the 4th quarter worth about $58,000. Teacher Retirement System of Texas acquired a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at approximately $60,000. Vontobel Holding Ltd. acquired a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at approximately $62,000. Finally, Virtus ETF Advisers LLC raised its holdings in shares of Olema Pharmaceuticals by 43.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 10,579 shares of the company's stock valued at $62,000 after buying an additional 3,185 shares during the last quarter. Institutional investors and hedge funds own 91.78% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on OLMA shares. HC Wainwright reissued a "buy" rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Monday, April 28th. JPMorgan Chase & Co. lowered their target price on shares of Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Finally, Oppenheimer restated an "outperform" rating and set a $25.00 price objective (down previously from $30.00) on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th.

Olema Pharmaceuticals Stock Performance

Shares of OLMA traded down $0.08 during mid-day trading on Tuesday, hitting $4.68. The company's stock had a trading volume of 527,963 shares, compared to its average volume of 868,523. Olema Pharmaceuticals, Inc. has a one year low of $2.86 and a one year high of $16.62. The stock's 50-day moving average is $4.28 and its two-hundred day moving average is $6.24. The firm has a market capitalization of $319.93 million, a PE ratio of -2.14 and a beta of 2.03.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.36) earnings per share for the quarter, beating analysts' consensus estimates of ($0.52) by $0.16. Analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

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.