Olema Pharmaceuticals, Inc. $OLMA Shares Acquired by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC increased its stake in Olema Pharmaceuticals by 260.4% during Q1, acquiring an additional 67,682 shares to hold a total of 93,669 shares valued at $352,000.
• Several institutional investors made significant changes to their positions in Olema, with Millennium Management raising its stake by 1,154.4% during the fourth quarter.
• Olema Pharmaceuticals reported earnings of ($0.51) per share, missing estimates, and has a consensus target price of $24.00 among analysts, reflecting a "Moderate Buy" rating.

Cubist Systematic Strategies LLC grew its holdings in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 260.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,669 shares of the company's stock after purchasing an additional 67,682 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.14% of Olema Pharmaceuticals worth $352,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of OLMA. Northern Trust Corp grew its holdings in Olema Pharmaceuticals by 8.7% during the 4th quarter. Northern Trust Corp now owns 423,787 shares of the company's stock valued at $2,471,000 after buying an additional 34,053 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Olema Pharmaceuticals during the fourth quarter valued at $1,130,000. Bank of America Corp DE boosted its stake in shares of Olema Pharmaceuticals by 110.6% during the fourth quarter. Bank of America Corp DE now owns 865,339 shares of the company's stock valued at $5,045,000 after acquiring an additional 454,400 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Olema Pharmaceuticals by 45.0% during the 4th quarter. Deutsche Bank AG now owns 39,331 shares of the company's stock worth $229,000 after purchasing an additional 12,199 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of 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 purchasing an additional 901,159 shares during the last quarter. Institutional investors and hedge funds own 91.78% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Zacks Research upgraded shares of Olema Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 9th. Oppenheimer restated an "outperform" rating and set a $22.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday, September 3rd. Citigroup raised their price objective on Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Finally, 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 report on Thursday, August 14th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $24.00.

Olema Pharmaceuticals Trading Down 1.8%

Olema Pharmaceuticals stock traded down $0.14 during midday trading on Wednesday, reaching $7.75. The stock had a trading volume of 695,011 shares, compared to its average volume of 1,053,255. Olema Pharmaceuticals, Inc. has a twelve month low of $2.86 and a twelve month high of $13.93. The stock has a market capitalization of $531.88 million, a PE ratio of -3.91 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. The stock's 50-day simple moving average is $5.66 and its 200 day simple moving average is $4.83.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.08). Analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current 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.