Jennison Associates LLC Has $27.17 Million Stock Holdings in Olema Pharmaceuticals, Inc. $OLMA

Key Points

• Jennison Associates LLC increased its Olema Pharmaceuticals stake by 89% in the first quarter, buying 858,126 additional shares and bringing its total holding to 1,822,123 shares worth about $27.17 million.
• Institutional ownership in Olema remains very high at 91.78%, and several other funds also recently added or opened positions in the stock.
• Analyst sentiment is mixed but constructive overall: Olema has an average Moderate Buy rating with a consensus price target of $44.10, while the stock recently traded around $11.35 and the company continues to report losses.

Jennison Associates LLC raised its stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 89.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,822,123 shares of the company's stock after purchasing an additional 858,126 shares during the period. Jennison Associates LLC owned 2.09% of Olema Pharmaceuticals worth $27,168,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in OLMA. EverSource Wealth Advisors LLC grew its stake in shares of Olema Pharmaceuticals by 9,476.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company's stock valued at $31,000 after buying an additional 1,232 shares during the period. Torren Management LLC acquired a new position in Olema Pharmaceuticals during the 4th quarter worth approximately $44,000. Russell Investments Group Ltd. acquired a new position in Olema Pharmaceuticals during the 3rd quarter worth approximately $53,000. American Century Companies Inc. bought a new position in Olema Pharmaceuticals in the second quarter worth approximately $54,000. Finally, Creative Planning bought a new position in Olema Pharmaceuticals in the second quarter worth approximately $83,000. Institutional investors and hedge funds own 91.78% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Olema Pharmaceuticals in a report on Tuesday, April 21st. HC Wainwright reissued a "buy" rating on shares of Olema Pharmaceuticals in a research report on Friday, May 22nd. Wolfe Research began coverage on shares of Olema Pharmaceuticals in a research note on Friday, March 27th. They set a "peer perform" rating for the company. Wall Street Zen upgraded shares of Olema Pharmaceuticals from a "strong sell" rating to a "sell" rating in a report on Sunday, July 12th. Finally, Guggenheim dropped their price objective on shares of Olema Pharmaceuticals from $38.00 to $35.00 and set a "buy" rating on the stock in a research note on Wednesday, May 13th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Olema Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $44.10.

Olema Pharmaceuticals Stock Performance

Shares of Olema Pharmaceuticals stock opened at $11.35 on Tuesday. Olema Pharmaceuticals, Inc. has a 52 week low of $4.40 and a 52 week high of $36.26. The company has a quick ratio of 10.88, a current ratio of 10.88 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $11.78 and a 200-day moving average price of $17.37. The company has a market cap of $991.42 million, a PE ratio of -5.62 and a beta of 2.00.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.52). Equities analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.22 earnings per share for the current fiscal 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.

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