Deep Track Capital LP Decreases Stock Holdings in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Deep Track Capital LP reduced its position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 13.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,442,833 shares of the company's stock after selling 557,167 shares during the period. Deep Track Capital LP owned about 6.01% of Olema Pharmaceuticals worth $20,072,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in OLMA. 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 during the fourth quarter worth $58,000. Teacher Retirement System of Texas acquired a new position in Olema Pharmaceuticals in the fourth quarter valued at $60,000. Virtus ETF Advisers LLC boosted its position in 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 acquiring an additional 3,185 shares during the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in Olema Pharmaceuticals during the 4th quarter worth about $62,000. Institutional investors and hedge funds own 91.78% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on OLMA. JPMorgan Chase & Co. lowered their target price on Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, March 28th. 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. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $25.00 price target (down from $30.00) on shares of Olema Pharmaceuticals in a research note on Wednesday, March 19th.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ OLMA traded up $0.29 during midday trading on Monday, reaching $4.89. The company's stock had a trading volume of 287,995 shares, compared to its average volume of 867,684. The stock has a market capitalization of $333.94 million, a P/E ratio of -2.22 and a beta of 2.03. The firm has a 50 day moving average price of $4.27 and a 200-day moving average price of $6.29. Olema Pharmaceuticals, Inc. has a 12-month low of $2.86 and a 12-month high of $16.62.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its earnings results on Tuesday, March 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.63) by $0.12. On average, equities analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Olema Pharmaceuticals Company 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.