BVF Inc. IL Decreases Holdings 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 cut its position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 7.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,295,893 shares of the company's stock after selling 420,000 shares during the period. Olema Pharmaceuticals accounts for about 0.8% of BVF Inc. IL's investment portfolio, making the stock its 24th biggest position. BVF Inc. IL owned 7.75% of Olema Pharmaceuticals worth $19,913,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in Olema Pharmaceuticals by 110.6% during the 4th quarter. Bank of America Corp DE now owns 865,339 shares of the company's stock worth $5,045,000 after buying an additional 454,400 shares in the last quarter. Wellington Management Group LLP lifted its position in Olema Pharmaceuticals by 52.1% during the 4th quarter. Wellington Management Group LLP now owns 1,525,484 shares of the company's stock worth $8,839,000 after buying an additional 522,799 shares in the last quarter. Millennium Management LLC lifted its position in Olema Pharmaceuticals by 1,154.4% during the 4th quarter. Millennium Management LLC now owns 979,219 shares of the company's stock worth $5,709,000 after buying an additional 901,159 shares in the last quarter. Paradigm Biocapital Advisors LP raised its holdings in Olema Pharmaceuticals by 32.7% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,304,970 shares of the company's stock worth $42,588,000 after purchasing an additional 1,801,370 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Olema Pharmaceuticals during the 1st quarter worth about $1,295,000. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OLMA. JPMorgan Chase & Co. boosted their price target on shares of Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Zacks Research raised shares of Olema Pharmaceuticals to a "strong sell" rating in a research note on Monday, August 11th. Citigroup upped their price target on Olema Pharmaceuticals from $20.00 to $21.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Oppenheimer reaffirmed an "outperform" rating and issued a $22.00 price target on shares of Olema Pharmaceuticals in a research note on Wednesday, September 3rd. Finally, The Goldman Sachs Group lowered their price target on Olema Pharmaceuticals from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.00.

Olema Pharmaceuticals Stock Down 8.4%

Shares of OLMA traded down $0.70 during mid-day trading on Monday, hitting $7.62. 875,132 shares of the company's stock were exchanged, compared to its average volume of 890,344. The company has a market cap of $522.62 million, a PE ratio of -3.85 and a beta of 1.92. Olema Pharmaceuticals, Inc. has a 52 week low of $2.86 and a 52 week high of $13.93. The company has a 50-day simple moving average of $5.14 and a 200 day simple moving average of $4.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.09 and a quick ratio of 11.09.

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

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.