Olema Pharmaceuticals, Inc. $OLMA Shares Sold by Candriam S.C.A.

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. cut its stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 45.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 850,517 shares of the company's stock after selling 701,045 shares during the quarter. Candriam S.C.A. owned approximately 1.24% of Olema Pharmaceuticals worth $3,198,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of OLMA. China Universal Asset Management Co. Ltd. boosted its stake in shares of Olema Pharmaceuticals by 22.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 14,892 shares of the company's stock valued at $56,000 after purchasing an additional 2,743 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in Olema Pharmaceuticals during the fourth quarter worth $58,000. Virtus ETF Advisers LLC boosted its position in Olema Pharmaceuticals by 43.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 10,579 shares of the company's stock valued at $62,000 after acquiring an additional 3,185 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Olema Pharmaceuticals in the 4th quarter valued at $64,000. Finally, Brooklyn Investment Group bought a new position in shares of Olema Pharmaceuticals in the 1st quarter worth $71,000. 91.78% of the stock is owned by institutional investors.

Olema Pharmaceuticals Stock Performance

OLMA traded down $0.10 during midday trading on Thursday, hitting $5.64. 103,338 shares of the company were exchanged, compared to its average volume of 853,141. The company's 50 day simple moving average is $4.88 and its 200 day simple moving average is $4.61. The firm has a market capitalization of $387.00 million, a price-to-earnings ratio of -2.85 and a beta of 1.92. Olema Pharmaceuticals, Inc. has a 1-year low of $2.86 and a 1-year high of $13.93. The company has a current ratio of 11.09, a quick ratio of 11.09 and a debt-to-equity ratio of 0.01.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.08). As a group, sell-side analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on OLMA shares. Oppenheimer decreased their target price 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 reduced their price target 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. raised their price objective on Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Zacks Research upgraded shares of Olema Pharmaceuticals to a "strong sell" rating in a research note on Monday, August 11th. Finally, Citigroup boosted their target price on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

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.