BVF Inc. IL Has $19.91 Million Stake in Olema Pharmaceuticals, Inc. $OLMA

Key Points

• BVF Inc. IL reduced its holdings in Olema Pharmaceuticals by 7.3%, selling 420,000 shares during the first quarter, while currently owning 5,295,893 shares.
• Bank of America Corp DE and other institutional investors have significantly increased their stakes in Olema Pharmaceuticals, with Bank of America growing its position by 110.6% in the fourth quarter.
• Equities analysts have mixed ratings for Olema Pharmaceuticals, with price targets ranging from $18.00 to $29.00, and a consensus rating of "Moderate Buy".

BVF Inc. IL reduced its position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 7.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,295,893 shares of the company's stock after selling 420,000 shares during the period. Olema Pharmaceuticals comprises about 0.8% of BVF Inc. IL's holdings, making the stock its 24th largest holding. BVF Inc. IL owned about 7.75% of Olema Pharmaceuticals worth $19,913,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of OLMA. Quarry LP purchased a new position in shares of Olema Pharmaceuticals during the first quarter worth $45,000. Alpine Global Management LLC acquired a new stake in shares of Olema Pharmaceuticals in the first quarter valued at $52,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Olema Pharmaceuticals by 22.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 14,892 shares of the company's stock valued at $56,000 after acquiring an additional 2,743 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at $58,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at $64,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OLMA has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed an "outperform" rating and set a $22.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday. Citigroup lifted their price target on Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. The Goldman Sachs Group cut their target price on Olema Pharmaceuticals from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. JPMorgan Chase & Co. lifted their target price on Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, Zacks Research upgraded Olema Pharmaceuticals to a "strong sell" rating in a research report on Monday, August 11th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

Olema Pharmaceuticals Stock Performance

Shares of NASDAQ:OLMA traded up $1.96 during trading hours on Friday, hitting $8.31. The stock had a trading volume of 3,845,447 shares, compared to its average volume of 656,744. The stock's fifty day simple moving average is $5.14 and its 200 day simple moving average is $4.66. Olema Pharmaceuticals, Inc. has a 1-year low of $2.86 and a 1-year high of $13.93. The firm has a market capitalization of $570.35 million, a price-to-earnings ratio of -4.20 and a beta of 1.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.09 and a current ratio of 11.09.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.51) earnings per share for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.08). Sell-side analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current fiscal 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.