Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP increased its position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 52.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,525,484 shares of the company's stock after buying an additional 522,799 shares during the period. Wellington Management Group LLP owned about 2.66% of Olema Pharmaceuticals worth $8,839,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bain Capital Life Sciences Investors LLC acquired a new position in Olema Pharmaceuticals during the 4th quarter worth $43,551,000. Lightspeed Management Company L.L.C. acquired a new position in Olema Pharmaceuticals during the 4th quarter worth $11,257,000. Paradigm Biocapital Advisors LP grew its holdings in Olema Pharmaceuticals by 32.7% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 7,304,970 shares of the company's stock worth $42,588,000 after acquiring an additional 1,801,370 shares in the last quarter. Avoro Capital Advisors LLC acquired a new position in Olema Pharmaceuticals during the 4th quarter worth $9,631,000. Finally, Millennium Management LLC grew its holdings in Olema Pharmaceuticals by 1,154.4% during the 4th quarter. Millennium Management LLC now owns 979,219 shares of the company's stock worth $5,709,000 after acquiring an additional 901,159 shares in the last quarter. Hedge funds and other institutional investors own 91.78% of the company's stock.

Olema Pharmaceuticals Stock Performance

Shares of NASDAQ OLMA traded up $0.25 during midday trading on Friday, hitting $4.46. The company's stock had a trading volume of 995,785 shares, compared to its average volume of 823,384. Olema Pharmaceuticals, Inc. has a 1-year low of $2.86 and a 1-year high of $16.62. The firm's fifty day moving average price is $4.49 and its 200-day moving average price is $5.45. The firm has a market cap of $305.16 million, a P/E ratio of -2.04 and a beta of 1.99.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.13. As a group, research analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OLMA. JPMorgan Chase & Co. decreased their price objective on shares of Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, March 28th. HC Wainwright reissued a "buy" rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Monday, April 28th. Oppenheimer decreased their price objective on shares of Olema Pharmaceuticals from $25.00 to $22.00 and set an "outperform" rating for the company in a report on Wednesday, May 14th. Finally, The Goldman Sachs Group decreased their price objective 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.

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.