Bank of America Corp DE Has $5.05 Million Stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Bank of America Corp DE lifted its position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 110.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 865,339 shares of the company's stock after buying an additional 454,400 shares during the period. Bank of America Corp DE owned approximately 1.51% of Olema Pharmaceuticals worth $5,045,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BNP Paribas Financial Markets acquired a new stake in shares of Olema Pharmaceuticals during the fourth quarter worth $1,130,000. Boxer Capital Management LLC acquired a new position in Olema Pharmaceuticals in the 4th quarter worth about $3,790,000. Schonfeld Strategic Advisors LLC increased its position in 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 last quarter. Northern Trust Corp boosted its stake in shares of Olema Pharmaceuticals by 8.7% during the 4th quarter. Northern Trust Corp now owns 423,787 shares of the company's stock worth $2,471,000 after acquiring an additional 34,053 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in shares of Olema Pharmaceuticals during the 4th quarter worth about $184,000. 91.78% of the stock is owned by institutional investors and hedge funds.

Olema Pharmaceuticals Stock Up 0.4%

OLMA stock traded up $0.02 during midday trading on Friday, reaching $5.32. 361,610 shares of the company's stock traded hands, compared to its average volume of 853,972. The company has a 50-day simple moving average of $4.45 and a two-hundred day simple moving average of $5.57. The company has a market cap of $364.00 million, a price-to-earnings ratio of -2.43 and a beta of 2.03. Olema Pharmaceuticals, Inc. has a 1-year low of $2.86 and a 1-year high of $16.62.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.13. Equities research analysts forecast that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on OLMA shares. The Goldman Sachs Group decreased their price target on Olema Pharmaceuticals from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Oppenheimer reduced their price objective on Olema Pharmaceuticals from $25.00 to $22.00 and set an "outperform" rating for the company in a research report on Wednesday, May 14th. JPMorgan Chase & Co. cut their target price on Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. Finally, HC Wainwright restated a "buy" rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Monday, April 28th.

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.