Candriam S.C.A. Purchases 433,334 Shares of Olema Pharmaceuticals, Inc. $OLMA

Key Points

• Candriam S.C.A. increased its Olema Pharmaceuticals stake by 57.7%, buying 433,334 shares in the third quarter to hold 1.18 million shares, valued at about $10.3 million. Institutional investors collectively own 91.78% of the company.
• Olema reported a quarterly loss of $0.61 per share, missing analyst expectations of a $0.55 loss. Shares opened at $7.36 and were below both their 50-day and 200-day moving averages.
• Analysts’ average rating is “Moderate Buy”, with an average price target of $40.60; estimates vary, and several firms recently cut their targets.

Candriam S.C.A. boosted its position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 57.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,184,467 shares of the company's stock after purchasing an additional 433,334 shares during the period. Candriam S.C.A. owned 1.35% of Olema Pharmaceuticals worth $10,271,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Readystate Asset Management LP bought a new stake in shares of Olema Pharmaceuticals during the second quarter worth about $7,429,000. Bank of America Corp DE bought a new position in Olema Pharmaceuticals in the 2nd quarter valued at approximately $4,189,000. Siren L.L.C. raised 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 valued at $70,926,000 after buying an additional 1,456,249 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Olema Pharmaceuticals in the 2nd quarter valued at approximately $2,779,000. Finally, Defilade Capital Management L.P. boosted its position in Olema Pharmaceuticals by 21.9% during the 1st quarter. Defilade Capital Management L.P. now owns 1,504,536 shares of the company's stock worth $22,433,000 after buying an additional 269,902 shares during the period. 91.78% of the stock is currently owned by institutional investors.

Olema Pharmaceuticals Stock Up 0.4%

Shares of NASDAQ OLMA opened at $7.36 on Tuesday. The company has a market capitalization of $644 million, a P/E ratio of -3.47 and a beta of 2.12. Olema Pharmaceuticals, Inc. has a 52-week low of $6.24 and a 52-week high of $36.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.86 and a current ratio of 8.86. The company's 50 day moving average price is $8.43 and its 200-day moving average price is $13.55.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.06). Equities analysts forecast that Olema Pharmaceuticals, Inc. will post -2.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OLMA. Weiss Ratings raised shares of Olema Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, September 21st. HC Wainwright dropped their price target on shares of Olema Pharmaceuticals from $38.00 to $36.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. Wall Street Zen lowered shares of Olema Pharmaceuticals from a "sell" rating to a "strong sell" rating in a report on Saturday, July 25th. Stifel Nicolaus reduced their price objective on shares of Olema Pharmaceuticals from $48.00 to $30.00 and set a "buy" rating on the stock in a research note on Monday, September 14th. Finally, JPMorgan Chase & Co. decreased their price objective on Olema Pharmaceuticals from $52.00 to $46.00 and set an "overweight" rating for the company in a report on Thursday, August 13th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned 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 $40.60.

Olema Pharmaceuticals Company Profile

Olema Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for women's cancers, with an emphasis on hormone receptor-positive breast cancer. The company's research is centered on treatments designed to address cancer biology and resistance mechanisms that can limit the effectiveness of existing endocrine therapies.

Olema's lead product candidate is palazestrant, an oral selective estrogen receptor degrader (SERD) being developed for patients with estrogen receptor-positive, human epidermal growth factor receptor 2-negative advanced or metastatic breast cancer.

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