Millennium Management LLC Boosts Position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Millennium Management LLC boosted its stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 1,154.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 979,219 shares of the company's stock after purchasing an additional 901,159 shares during the period. Millennium Management LLC owned approximately 1.71% of Olema Pharmaceuticals worth $5,709,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC grew its holdings in Olema Pharmaceuticals by 435.0% during the fourth quarter. Renaissance Technologies LLC now owns 157,300 shares of the company's stock worth $917,000 after acquiring an additional 127,900 shares during the period. HighTower Advisors LLC acquired a new stake in Olema Pharmaceuticals during the fourth quarter valued at $510,000. Boothbay Fund Management LLC raised its position in shares of 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 acquiring an additional 3,056 shares during the period. Alliancebernstein L.P. increased its stake in shares of Olema Pharmaceuticals by 77.7% in the 4th quarter. Alliancebernstein L.P. now owns 313,982 shares of the company's stock valued at $1,831,000 after purchasing an additional 137,319 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position 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 worth $8,839,000 after purchasing an additional 522,799 shares in the last quarter. Hedge funds and other institutional investors own 91.78% of the company's stock.

Olema Pharmaceuticals Trading Up 0.4%

OLMA traded up $0.02 on Friday, hitting $5.32. 361,610 shares of the company's stock were exchanged, compared to its average volume of 856,410. The firm has a 50-day moving average price of $4.43 and a 200-day moving average price of $5.68. The stock has a market cap of $364.00 million, a price-to-earnings ratio of -2.43 and a beta of 2.03. Olema Pharmaceuticals, Inc. has a fifty-two week low of $2.86 and a fifty-two week high of $16.62.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.36) EPS for the quarter, beating analysts' consensus estimates of ($0.49) by $0.13. On average, equities analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Analyst Upgrades and Downgrades

OLMA has been the topic of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on Olema Pharmaceuticals from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Oppenheimer reduced their price target on shares of Olema Pharmaceuticals from $25.00 to $22.00 and set an "outperform" rating for the company in a research report on Wednesday, May 14th. HC Wainwright reiterated a "buy" rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. cut their price objective on Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday, March 28th.

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.