BlackRock Inc. Makes New Investment in Olema Pharmaceuticals, Inc. $OLMA

Key Points

• BlackRock purchased 6.7 million Olema Pharmaceuticals shares worth approximately $84 million, giving it a 7.69% stake. Institutional investors collectively own 91.78% of OLMA.
• Analysts maintain a generally positive outlook, with 11 Buy, two Hold, and one Sell rating and an average price target of $42.40, despite several recent target reductions.
• Olema reported a quarterly loss of $0.61 per share, missing estimates by $0.06. The stock opened at $10.27 and remains well below its 52-week high of $36.26.

BlackRock Inc. purchased a new position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,714,691 shares of the company's stock, valued at approximately $84,001,000. BlackRock Inc. owned approximately 7.69% of Olema Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Siren L.L.C. increased its holdings in Olema Pharmaceuticals by 44.1% in the 1st quarter. Siren L.L.C. now owns 4,756,949 shares of the company's stock worth $70,926,000 after purchasing an additional 1,456,249 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Olema Pharmaceuticals during the fourth quarter valued at about $24,100,000. Defilade Capital Management L.P. grew its holdings in shares of Olema Pharmaceuticals by 21.9% during the first quarter. Defilade Capital Management L.P. now owns 1,504,536 shares of the company's stock worth $22,433,000 after purchasing an additional 269,902 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings 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 during the last quarter. Finally, SEB Asset Management AB bought a new stake in shares of Olema Pharmaceuticals during the first quarter worth about $5,061,000. 91.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OLMA has been the subject of a number of research reports. Weiss Ratings upgraded shares of Olema Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, August 17th. Citigroup decreased their price target on shares of Olema Pharmaceuticals to $59.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. Guggenheim dropped their price target on shares of Olema Pharmaceuticals from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, May 13th. JPMorgan Chase & Co. cut their price target on shares of Olema Pharmaceuticals from $52.00 to $46.00 and set an "overweight" rating on the stock in a report on Thursday, August 13th. Finally, HC Wainwright reduced their price objective on shares of Olema Pharmaceuticals from $38.00 to $36.00 and set a "buy" rating on the stock in a research note on Tuesday, August 11th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Olema Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $42.40.

Olema Pharmaceuticals Stock Performance

NASDAQ:OLMA opened at $10.27 on Friday. The company has a market capitalization of $898.62 million, a PE ratio of -4.84 and a beta of 2.03. The company has a 50 day simple moving average of $11.45 and a two-hundred day simple moving average of $14.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.86 and a current ratio of 8.86. Olema Pharmaceuticals, Inc. has a fifty-two week low of $5.36 and a fifty-two week high of $36.26.

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

Insider Transactions at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 12,500 shares of the business'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 transaction, the director owned 715,270 shares in the company, valued at $8,282,826.60. The trade was a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.56% of the stock is currently owned by insiders.

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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