Nuveen LLC Invests $1.30 Million in Olema Pharmaceuticals, Inc. $OLMA

Key Points

• Nuveen LLC has acquired a new stake of 344,296 shares in Olema Pharmaceuticals, Inc., valued at approximately $1,295,000.
• Olema Pharmaceuticals reported a loss of $0.51 EPS for the last quarter, missing analysts' expectations by $0.08.
• Olema's stock has a consensus rating of "Moderate Buy" from analysts, with a current price target averaging $24.00.

Nuveen LLC acquired a new stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 344,296 shares of the company's stock, valued at approximately $1,295,000. Nuveen LLC owned about 0.50% of Olema Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in OLMA. Bank of America Corp DE raised 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 in the last quarter. Wellington Management Group LLP increased its holdings in Olema Pharmaceuticals by 52.1% during the fourth quarter. Wellington Management Group LLP now owns 1,525,484 shares of the company's stock valued at $8,839,000 after buying an additional 522,799 shares during the period. Millennium Management LLC increased its holdings in Olema Pharmaceuticals by 1,154.4% during the fourth quarter. Millennium Management LLC now owns 979,219 shares of the company's stock valued at $5,709,000 after buying an additional 901,159 shares during the period. Paradigm Biocapital Advisors LP grew its holdings in Olema Pharmaceuticals by 32.7% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 7,304,970 shares of the company's stock worth $42,588,000 after purchasing an additional 1,801,370 shares during the last quarter. Finally, Boothbay Fund Management LLC grew its holdings in Olema Pharmaceuticals by 10.8% in the fourth quarter. Boothbay Fund Management LLC now owns 31,226 shares of the company's stock worth $182,000 after purchasing an additional 3,056 shares during the last quarter. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Olema Pharmaceuticals Stock Performance

Shares of OLMA traded down $0.05 during midday trading on Thursday, reaching $6.24. 2,179,387 shares of the stock were exchanged, compared to its average volume of 861,756. Olema Pharmaceuticals, Inc. has a twelve month low of $2.86 and a twelve month high of $13.93. The company has a quick ratio of 11.09, a current ratio of 11.09 and a debt-to-equity ratio of 0.01. The company has a market cap of $428.28 million, a P/E ratio of -3.15 and a beta of 1.92. The stock's 50 day simple moving average is $5.03 and its 200 day simple moving average is $4.63.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on OLMA shares. JPMorgan Chase & Co. upped their price target on shares of Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. The Goldman Sachs Group dropped their target price on shares of Olema Pharmaceuticals from $20.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Oppenheimer reiterated an "outperform" rating and set a $22.00 price target on shares of Olema Pharmaceuticals in a research note on Wednesday. Zacks Research upgraded shares of Olema Pharmaceuticals to a "strong sell" rating in a research note on Monday, August 11th. Finally, Citigroup boosted their price objective on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

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.