Bank of America Corp DE Raises Stock Position in Olema Pharmaceuticals, Inc. $OLMA

Bank of America Corp DE increased its position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 112.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 508,706 shares of the company's stock after acquiring an additional 269,792 shares during the quarter. Bank of America Corp DE owned about 0.58% of Olema Pharmaceuticals worth $7,585,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of OLMA. Janus Henderson Group PLC lifted its holdings in shares of Olema Pharmaceuticals by 5.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,108,488 shares of the company's stock valued at $106,013,000 after purchasing an additional 398,294 shares during the last quarter. California State Teachers Retirement System increased its position in Olema Pharmaceuticals by 966.0% during the 1st quarter. California State Teachers Retirement System now owns 39,079 shares of the company's stock valued at $583,000 after buying an additional 35,413 shares in the last quarter. Rock Springs Capital Management LP raised its stake in Olema Pharmaceuticals by 73.4% in the first quarter. Rock Springs Capital Management LP now owns 170,378 shares of the company's stock valued at $2,540,000 after buying an additional 72,138 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Olema Pharmaceuticals by 7.1% in the first quarter. The Manufacturers Life Insurance Company now owns 109,582 shares of the company's stock valued at $1,634,000 after buying an additional 7,260 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in Olema Pharmaceuticals by 55.5% in the first quarter. Quantinno Capital Management LP now owns 95,336 shares of the company's stock valued at $1,421,000 after buying an additional 34,030 shares during the last quarter. Hedge funds and other institutional investors own 91.78% of the company's stock.

Insider Buying and Selling

In other news, Director Cyrus Harmon sold 12,500 shares of the company's stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $11.58, for a total value of $144,750.00. Following the sale, the director directly owned 715,270 shares of the company's stock, valued at $8,282,826.60. This represents a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.56% of the company's stock.

Olema Pharmaceuticals Trading Up 4.6%

Shares of NASDAQ:OLMA opened at $10.91 on Wednesday. The company has a quick ratio of 8.86, a current ratio of 8.86 and a debt-to-equity ratio of 0.01. Olema Pharmaceuticals, Inc. has a 52-week low of $5.36 and a 52-week high of $36.26. The stock has a market cap of $954.62 million, a price-to-earnings ratio of -5.15 and a beta of 2.03. The business has a 50-day moving average price of $11.38 and a 200-day moving average price of $14.60.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.61) EPS for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.06). Equities analysts predict that Olema Pharmaceuticals, Inc. will post -2.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OLMA. JPMorgan Chase & Co. dropped their price target on Olema Pharmaceuticals from $52.00 to $46.00 and set an "overweight" rating on the stock in a research note on Thursday, August 13th. Citigroup decreased their price objective on shares of Olema Pharmaceuticals to $59.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. HC Wainwright lowered their target price on shares of Olema Pharmaceuticals from $38.00 to $36.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. Wall Street Zen cut shares of Olema Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research note on Saturday, July 25th. Finally, Weiss Ratings raised shares of Olema Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, August 17th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.40.

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.

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