Balyasny Asset Management L.P. Increases Stock Position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Balyasny Asset Management L.P. raised its holdings in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 59.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,127,589 shares of the company's stock after acquiring an additional 418,492 shares during the quarter. Balyasny Asset Management L.P. owned approximately 1.97% of Olema Pharmaceuticals worth $6,574,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in shares of Olema Pharmaceuticals by 110.6% in the 4th quarter. Bank of America Corp DE now owns 865,339 shares of the company's stock worth $5,045,000 after purchasing an additional 454,400 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Olema Pharmaceuticals in the 4th quarter worth approximately $1,130,000. Boxer Capital Management LLC acquired a new position in shares of Olema Pharmaceuticals in the 4th quarter worth approximately $3,790,000. Schonfeld Strategic Advisors LLC lifted its position in shares of Olema Pharmaceuticals by 9.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 505,400 shares of the company's stock worth $2,946,000 after purchasing an additional 43,474 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Olema Pharmaceuticals by 8.7% in the 4th quarter. Northern Trust Corp now owns 423,787 shares of the company's stock worth $2,471,000 after purchasing an additional 34,053 shares during the period. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OLMA. The Goldman Sachs Group dropped their price target on shares of Olema Pharmaceuticals from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. HC Wainwright restated a "buy" rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Monday, April 28th. Finally, Oppenheimer dropped their target price on shares of Olema Pharmaceuticals from $25.00 to $22.00 and set an "outperform" rating on the stock in a research report on Wednesday.

Olema Pharmaceuticals Stock Up 1.1%

OLMA traded up $0.05 during trading on Thursday, hitting $4.55. 216,752 shares of the company's stock were exchanged, compared to its average volume of 865,680. The business's 50 day moving average is $4.28 and its two-hundred day moving average is $6.22. Olema Pharmaceuticals, Inc. has a fifty-two week low of $2.86 and a fifty-two week high of $16.62. The stock has a market cap of $311.04 million, a P/E ratio of -2.08 and a beta of 2.03.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.13. On average, sell-side analysts forecast that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share 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.