Jupiter Topco LLC Takes $88.80 Million Position in Olema Pharmaceuticals, Inc. $OLMA

Jupiter Topco LLC bought a new position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,094,413 shares of the company's stock, valued at approximately $88,803,000. Jupiter Topco LLC owned about 8.11% of Olema Pharmaceuticals as of its most recent SEC filing.

Several other large investors have also made changes to their positions in OLMA. Canada Pension Plan Investment Board acquired a new stake in Olema Pharmaceuticals in the second quarter worth about $144,000. Legal & General Group Plc acquired a new position in Olema Pharmaceuticals during the 2nd quarter valued at about $470,000. The Manufacturers Life Insurance Company acquired a new position in Olema Pharmaceuticals during the 2nd quarter valued at about $1,126,000. Algert Global LLC boosted its stake in shares of Olema Pharmaceuticals by 125.6% in the 2nd quarter. Algert Global LLC now owns 80,928 shares of the company's stock valued at $1,012,000 after purchasing an additional 45,048 shares during the last quarter. Finally, Portland Investment Counsel Inc. bought a new position in shares of Olema Pharmaceuticals in the 2nd quarter valued at about $626,000. Institutional investors and hedge funds own 91.78% of the company's stock.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 12,500 shares of the business's stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $11.58, for a total value of $144,750.00. Following the completion of the transaction, the director directly owned 715,270 shares of the company's stock, valued at approximately $8,282,826.60. The trade was a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.56% of the company's stock.

Olema Pharmaceuticals Stock Down 0.5%

Shares of NASDAQ:OLMA opened at $10.85 on Thursday. Olema Pharmaceuticals, Inc. has a 52 week low of $5.36 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 has a market capitalization of $949.38 million, a PE ratio of -5.12 and a beta of 2.03. The company has a 50 day moving average price of $11.41 and a two-hundred day moving average price of $14.50.

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

Analyst Ratings Changes

OLMA has been the subject of a number of recent research reports. Guggenheim dropped their price target on shares of Olema Pharmaceuticals from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, May 13th. Citigroup lowered their target price on shares of Olema Pharmaceuticals to $59.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. HC Wainwright dropped their target price on shares of Olema Pharmaceuticals from $38.00 to $36.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. JPMorgan Chase & Co. dropped their target price on shares of Olema Pharmaceuticals from $52.00 to $46.00 and set an "overweight" rating for the company in a research report on Thursday, August 13th. Finally, Wall Street Zen lowered Olema Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research report on Saturday, July 25th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $42.40.

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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