Hennion & Walsh Asset Management Inc. Increases Position in Olema Pharmaceuticals, Inc. $OLMA

Key Points

• Hennion & Walsh boosted its stake in Olema by 83.2% in Q4 to 447,046 shares (about $11.18M), and institutional investors now own 91.78% of the company.
• Wall Street is largely bullish on OLMA, with 11 Buy ratings, an average price target of $44.40, and several firms raising targets in recent months.
• Despite institutional buying, insiders have sold 217,311 shares (~$5.97M) over the past three months, though insiders still hold 16.36% of the stock.

Hennion & Walsh Asset Management Inc. increased its holdings in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 83.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 447,046 shares of the company's stock after purchasing an additional 202,970 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.65% of Olema Pharmaceuticals worth $11,176,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC purchased a new stake in shares of Olema Pharmaceuticals in the first quarter valued at approximately $172,000. Goldman Sachs Group Inc. lifted its position in shares of Olema Pharmaceuticals by 93.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company's stock valued at $2,787,000 after buying an additional 358,412 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Olema Pharmaceuticals by 216.8% during the 1st quarter. Jane Street Group LLC now owns 138,552 shares of the company's stock valued at $521,000 after buying an additional 94,815 shares in the last quarter. Geode Capital Management LLC grew its stake in Olema Pharmaceuticals by 22.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company's stock valued at $5,650,000 after acquiring an additional 242,997 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in Olema Pharmaceuticals by 76.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 14,195 shares of the company's stock valued at $60,000 after acquiring an additional 6,141 shares during the period. Hedge funds and other institutional investors own 91.78% of the company's stock.

Olema Pharmaceuticals Price Performance

Shares of OLMA stock opened at $13.67 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.95 and a quick ratio of 9.95. The company has a market capitalization of $1.19 billion, a PE ratio of -7.35 and a beta of 1.93. The firm's 50-day moving average is $21.63 and its two-hundred day moving average is $19.13. Olema Pharmaceuticals, Inc. has a 12 month low of $2.86 and a 12 month high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last posted its quarterly earnings results on Monday, March 16th. The company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.01. Analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OLMA has been the subject of a number of research analyst reports. UBS Group assumed coverage on shares of Olema Pharmaceuticals in a research report on Wednesday, January 7th. They set a "buy" rating and a $45.00 price objective for the company. TD Cowen reiterated a "buy" rating on shares of Olema Pharmaceuticals in a research report on Monday, March 9th. Oppenheimer reissued an "outperform" rating on shares of Olema Pharmaceuticals in a research note on Monday, March 9th. Citigroup upped their price target on shares of Olema Pharmaceuticals from $60.00 to $62.00 and gave the stock a "buy" rating in a research report on Tuesday, March 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Olema Pharmaceuticals from $55.00 to $58.00 and gave the company an "overweight" rating in a research note on Wednesday, March 18th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Olema Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $44.40.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 10,000 shares of Olema Pharmaceuticals stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $26.88, for a total value of $268,800.00. Following the sale, the director owned 727,770 shares in the company, valued at $19,562,457.60. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shane William Charles Kovacs sold 100,000 shares of the company's stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $28.73, for a total value of $2,873,000.00. Following the completion of the transaction, the insider directly owned 139,727 shares in the company, valued at approximately $4,014,356.71. This trade represents a 41.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 217,311 shares of company stock valued at $5,965,254. Insiders own 16.36% of the company's stock.

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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