Bank of New York Mellon Corp Invests $2.78 Million in Olema Pharmaceuticals, Inc. $OLMA

Key Points

• Bank of New York Mellon purchased 222,177 Olema Pharmaceuticals shares worth approximately $2.78 million, while institutional investors collectively own 91.78% of OLMA.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $42.40 price target, despite several firms recently lowering their targets.
• OLMA opened at $10.75 and recently reported a quarterly loss of $0.61 per share, missing the $0.55-per-share consensus estimate; director Cyrus Harmon also sold 12,500 shares.

Bank of New York Mellon Corp bought a new stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 222,177 shares of the company's stock, valued at approximately $2,779,000. Bank of New York Mellon Corp owned 0.25% of Olema Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of OLMA. Siren L.L.C. raised its position in Olema Pharmaceuticals by 44.1% during the first quarter. Siren L.L.C. now owns 4,756,949 shares of the company's stock worth $70,926,000 after acquiring an additional 1,456,249 shares during the period. Jennison Associates LLC lifted its holdings in Olema Pharmaceuticals by 89.0% during the first quarter. Jennison Associates LLC now owns 1,822,123 shares of the company's stock valued at $27,168,000 after purchasing an additional 858,126 shares in the last quarter. Defilade Capital Management L.P. grew its position in shares of Olema Pharmaceuticals by 21.9% in the first quarter. Defilade Capital Management L.P. now owns 1,504,536 shares of the company's stock valued at $22,433,000 after purchasing an additional 269,902 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Olema Pharmaceuticals by 12.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,082,434 shares of the company's stock worth $16,134,000 after purchasing an additional 123,790 shares in the last quarter. Finally, SEB Asset Management AB purchased a new stake in shares of Olema Pharmaceuticals during the first quarter worth about $5,061,000. Hedge funds and other institutional investors own 91.78% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on OLMA. Weiss Ratings lowered Olema Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, August 31st. HC Wainwright lowered their price target on Olema Pharmaceuticals from $38.00 to $36.00 and set a "buy" rating on the stock in a research note on Tuesday, August 11th. JPMorgan Chase & Co. dropped their price target on Olema Pharmaceuticals from $52.00 to $46.00 and set an "overweight" rating for the company in a research report on Thursday, August 13th. Guggenheim reduced their price objective on Olema Pharmaceuticals from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, May 13th. Finally, Wall Street Zen lowered Olema Pharmaceuticals from a "sell" rating to a "strong sell" rating in a report on Saturday, July 25th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.40.

Insider Buying and Selling at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 12,500 shares of the firm's stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $11.58, for a total transaction of $144,750.00. Following the completion of the sale, the director directly owned 715,270 shares of the company's stock, valued at approximately $8,282,826.60. This trade represents a 1.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.56% of the company's stock.

Olema Pharmaceuticals Price Performance

OLMA stock opened at $10.75 on Monday. The firm has a market cap of $940.62 million, a PE ratio of -5.07 and a beta of 1.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.86 and a current ratio of 8.86. The firm's 50 day moving average price is $11.42 and its 200-day moving average price is $13.85. Olema Pharmaceuticals, Inc. has a one year low of $6.35 and a one year high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.06). On average, equities research analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.43 EPS 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.

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