Olema Pharmaceuticals, Inc. $OLMA Stake Raised by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Olema Pharmaceuticals by 93.6%, owning over 741,000 shares worth approximately $2.79 million as of the end of the 1st quarter.
• Olema Pharmaceuticals stock has experienced fluctuations, closing at $8.17 on Friday, with a significant drop of 4.0% recently.
• Analysts have raised price targets, with Citigroup setting a target of $21.00 and JPMorgan increasing theirs to $29.00, indicating a generally positive outlook for the stock.

Goldman Sachs Group Inc. increased its position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 93.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 741,329 shares of the company's stock after buying an additional 358,412 shares during the quarter. Goldman Sachs Group Inc. owned about 1.08% of Olema Pharmaceuticals worth $2,787,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. MPM Bioimpact LLC increased its holdings in Olema Pharmaceuticals by 0.6% in the 1st quarter. MPM Bioimpact LLC now owns 2,930,446 shares of the company's stock valued at $11,018,000 after purchasing an additional 17,896 shares in the last quarter. Wellington Management Group LLP increased its holdings in Olema Pharmaceuticals by 52.1% in the 4th quarter. Wellington Management Group LLP now owns 1,525,484 shares of the company's stock valued at $8,839,000 after purchasing an additional 522,799 shares in the last quarter. Woodline Partners LP increased its holdings in Olema Pharmaceuticals by 8.9% in the 1st quarter. Woodline Partners LP now owns 1,477,907 shares of the company's stock valued at $5,557,000 after purchasing an additional 120,428 shares in the last quarter. Millennium Management LLC increased its holdings in Olema Pharmaceuticals by 1,154.4% in the 4th quarter. Millennium Management LLC now owns 979,219 shares of the company's stock valued at $5,709,000 after purchasing an additional 901,159 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Olema Pharmaceuticals by 110.6% in the 4th quarter. Bank of America Corp DE now owns 865,339 shares of the company's stock valued at $5,045,000 after purchasing an additional 454,400 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Olema Pharmaceuticals Stock Performance

NASDAQ OLMA traded up $0.32 during trading hours on Tuesday, reaching $8.65. The company's stock had a trading volume of 99,282 shares, compared to its average volume of 904,292. The company has a current ratio of 11.09, a quick ratio of 11.09 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $5.87 and a 200 day simple moving average of $4.92. Olema Pharmaceuticals, Inc. has a 52 week low of $2.86 and a 52 week high of $13.51. The stock has a market cap of $593.31 million, a PE ratio of -4.36 and a beta of 1.92.

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

Insider Transactions at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 10,000 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $8.33, for a total value of $83,300.00. Following the transaction, the director owned 744,140 shares of the company's stock, valued at $6,198,686.20. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 25,000 shares of company stock valued at $204,841 over the last quarter. Company insiders own 16.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Oppenheimer reiterated an "outperform" rating and issued a $22.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, September 3rd. Zacks Research upgraded Olema Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 9th. Citigroup increased their price target on Olema Pharmaceuticals from $20.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. increased their price target on Olema Pharmaceuticals from $28.00 to $29.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Olema Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $24.00.

Olema Pharmaceuticals 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.