Candriam S.C.A. Decreases Holdings in Olema Pharmaceuticals, Inc. $OLMA

Key Points

• Candriam S.C.A. reduced its stake in Olema Pharmaceuticals by 45.2%, selling 701,045 shares and owning 850,517 shares valued at approximately $3.2 million at the end of the first quarter.
• Several hedge funds increased their positions in Olema Pharmaceuticals, with Paradigm Biocapital Advisors raising its stake by 32.7% and 91.78% of the stock currently owned by institutional investors.
• Olema's stock has received mixed analyst ratings, with an average consensus target price of $24.00 and a recent earnings report showing an EPS miss of $0.08 against estimates.

Candriam S.C.A. trimmed its stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 45.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 850,517 shares of the company's stock after selling 701,045 shares during the period. Candriam S.C.A. owned 1.24% of Olema Pharmaceuticals worth $3,198,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Paradigm Biocapital Advisors LP raised its position in shares of Olema Pharmaceuticals by 32.7% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 7,304,970 shares of the company's stock valued at $42,588,000 after buying an additional 1,801,370 shares during the last quarter. MPM Bioimpact LLC raised its position in shares of Olema Pharmaceuticals by 8.7% in the fourth quarter. MPM Bioimpact LLC now owns 2,912,550 shares of the company's stock valued at $16,980,000 after buying an additional 231,954 shares during the last quarter. Lightspeed Management Company L.L.C. acquired a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at about $11,257,000. Wellington Management Group LLP raised its position in shares of Olema Pharmaceuticals by 52.1% in the fourth quarter. Wellington Management Group LLP now owns 1,525,484 shares of the company's stock valued at $8,839,000 after buying an additional 522,799 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its position in shares of Olema Pharmaceuticals by 59.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,127,589 shares of the company's stock valued at $6,574,000 after buying an additional 418,492 shares during the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on OLMA shares. Zacks Research upgraded shares of Olema Pharmaceuticals to a "strong sell" rating in a research report on Monday, August 11th. Citigroup increased their target price on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Oppenheimer cut their price objective on shares of Olema Pharmaceuticals from $25.00 to $22.00 and set an "outperform" rating for the company in a research report on Wednesday, May 14th. The Goldman Sachs Group decreased their target price on shares of Olema Pharmaceuticals from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of Olema Pharmaceuticals from $28.00 to $29.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Olema Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $24.00.

Olema Pharmaceuticals Stock Performance

Olema Pharmaceuticals stock opened at $5.76 on Friday. The firm has a 50 day simple moving average of $4.79 and a 200-day simple moving average of $4.62. Olema Pharmaceuticals, Inc. has a 1-year low of $2.86 and a 1-year high of $13.93. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.09 and a quick ratio of 11.09. The stock has a market cap of $395.31 million, a price-to-earnings ratio of -2.91 and a beta of 1.92.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last announced its quarterly 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). On average, analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Olema Pharmaceuticals Company 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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