Olema Pharmaceuticals, Inc. $OLMA Holdings Raised by Persistent Asset Partners Ltd

Key Points

• Persistent Asset Partners increased its stake in Olema by 153.8% to 58,333 shares (about $248k), and institutional investors own 91.78% of the stock with Goldman Sachs holding 741,329 shares.
• Analysts give Olema a consensus rating of “Moderate Buy” with a $23.00 consensus price target (seven Buys, one Hold, one Sell), and individual price targets range up to $29 from JPMorgan.
• OLMA trades near $8.40 (52‑week range $2.86–$11.54) with a market cap of ~$576.7M and a negative P/E; the company reported an EPS miss of ($0.49) and is advancing lead candidate OP-1250 in a Phase 3 trial for ER+/HER2‑ breast cancer.

Persistent Asset Partners Ltd increased its position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 153.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,333 shares of the company's stock after purchasing an additional 35,345 shares during the quarter. Persistent Asset Partners Ltd owned 0.09% of Olema Pharmaceuticals worth $248,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its holdings in shares of Olema Pharmaceuticals by 93.6% during the first quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company's stock valued at $2,787,000 after buying an additional 358,412 shares during the last quarter. Affinity Asset Advisors LLC acquired a new stake in Olema Pharmaceuticals in the 1st quarter valued at approximately $1,222,000. Nuveen LLC bought a new stake in Olema Pharmaceuticals during the 1st quarter valued at $1,295,000. PDT Partners LLC bought a new stake in Olema Pharmaceuticals during the 1st quarter valued at $279,000. Finally, Farther Finance Advisors LLC boosted its position in Olema Pharmaceuticals by 602.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 6,839 shares of the company's stock worth $29,000 after acquiring an additional 5,866 shares during the period. Institutional investors and hedge funds own 91.78% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Oppenheimer reissued an "outperform" rating and set a $22.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, September 3rd. UBS Group reissued a "buy" rating on shares of Olema Pharmaceuticals in a research note on Monday, October 20th. JPMorgan Chase & Co. boosted 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. HC Wainwright reiterated a "buy" rating and issued a $28.00 price objective on shares of Olema Pharmaceuticals in a report on Monday, October 20th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Olema Pharmaceuticals in a research note on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Olema Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.00.

Olema Pharmaceuticals Stock Performance

Shares of OLMA stock opened at $8.40 on Friday. Olema Pharmaceuticals, Inc. has a fifty-two week low of $2.86 and a fifty-two week high of $11.54. The stock's 50-day moving average is $8.91 and its two-hundred day moving average is $6.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.03 and a quick ratio of 11.09. The firm has a market cap of $576.74 million, a P/E ratio of -4.49 and a beta of 2.07.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.05). Analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 10,000 shares of the business's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $8.33, for a total transaction of $83,300.00. Following the transaction, the director owned 744,140 shares of the company's stock, valued at approximately $6,198,686.20. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 25,000 shares of company stock worth $204,841. 16.36% of the stock is currently owned by insiders.

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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