Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Shares Bought by Bank of America Corp DE

Bank of America Corp DE increased its holdings in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 110.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 865,339 shares of the company's stock after purchasing an additional 454,400 shares during the period. Bank of America Corp DE owned approximately 1.51% of Olema Pharmaceuticals worth $5,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in OLMA. Charles Schwab Investment Management Inc. increased its holdings in Olema Pharmaceuticals by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 332,950 shares of the company's stock valued at $1,941,000 after buying an additional 2,189 shares in the last quarter. Boothbay Fund Management LLC increased its holdings in Olema Pharmaceuticals by 10.8% in the fourth quarter. Boothbay Fund Management LLC now owns 31,226 shares of the company's stock valued at $182,000 after buying an additional 3,056 shares in the last quarter. Virtus ETF Advisers LLC increased its holdings in Olema Pharmaceuticals by 43.1% in 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 in the last quarter. SG Americas Securities LLC increased its holdings in Olema Pharmaceuticals by 33.8% in the fourth quarter. SG Americas Securities LLC now owns 17,475 shares of the company's stock valued at $102,000 after buying an additional 4,419 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Olema Pharmaceuticals in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 91.78% of the company's stock.

Wall Street Analyst Weigh In

OLMA has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their price objective on shares of Olema Pharmaceuticals from $20.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. JPMorgan Chase & Co. cut their price objective on shares of Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, March 28th. Oppenheimer cut their price objective on shares of Olema Pharmaceuticals from $25.00 to $22.00 and set an "outperform" rating for the company in a report on Wednesday, May 14th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Monday, April 28th.

Olema Pharmaceuticals Stock Up 6.9%

Shares of NASDAQ OLMA traded up $0.34 during trading on Thursday, hitting $5.30. The company had a trading volume of 780,606 shares, compared to its average volume of 858,389. The stock has a fifty day simple moving average of $4.41 and a two-hundred day simple moving average of $5.73. Olema Pharmaceuticals, Inc. has a fifty-two week low of $2.86 and a fifty-two week high of $16.62. The firm has a market capitalization of $362.63 million, a price-to-earnings ratio of -2.42 and a beta of 2.03.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.13. On average, analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share 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.