Wellington Management Group LLP Purchases 522,799 Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Wellington Management Group LLP lifted its position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 52.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in shares of Olema Pharmaceuticals by 110.6% in the fourth quarter. Bank of America Corp DE now owns 865,339 shares of the company's stock worth $5,045,000 after buying an additional 454,400 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Olema Pharmaceuticals by 435.0% in the fourth quarter. Renaissance Technologies LLC now owns 157,300 shares of the company's stock worth $917,000 after buying an additional 127,900 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Olema Pharmaceuticals during the fourth quarter valued at approximately $510,000. Millennium Management LLC raised its holdings in shares of 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 purchasing an additional 901,159 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP raised its holdings in shares of Olema Pharmaceuticals by 32.7% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 7,304,970 shares of the company's stock valued at $42,588,000 after purchasing an additional 1,801,370 shares during the last quarter. Institutional investors own 91.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on OLMA shares. 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. 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. 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. Finally, 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.

Olema Pharmaceuticals Trading Up 4.2%

OLMA stock traded up $0.17 during midday trading on Wednesday, reaching $4.22. 1,124,190 shares of the company's stock traded hands, compared to its average volume of 847,627. Olema Pharmaceuticals, Inc. has a 52-week low of $2.86 and a 52-week high of $16.62. The stock has a market cap of $288.74 million, a P/E ratio of -1.93 and a beta of 1.99. The stock's 50-day moving average is $4.45 and its 200 day moving average is $5.52.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.36) EPS for the quarter, beating analysts' consensus estimates of ($0.49) by $0.13. As a group, research analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 EPS 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.