Bain Capital Life Sciences Investors LLC Cuts Stake in Olema Pharmaceuticals, Inc. $OLMA

Key Points

• Bain Capital Life Sciences Investors LLC reduced its stake in Olema Pharmaceuticals by 8.4% in the first quarter, now owning approximately 3.8% of the company, making it their 8th largest holding.
• Olema Pharmaceuticals has reported a loss of ($0.51) earnings per share for the last quarter, missing the consensus estimate, with analysts predicting a EPS of -2.33 for the current year.
• Recent changes in price targets by analysts include JPMorgan raising their target from $28.00 to $29.00 and Oppenheimer reducing theirs from $25.00 to $22.00, indicating varying outlooks on the stock's performance.

Bain Capital Life Sciences Investors LLC trimmed its position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 8.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,843,954 shares of the company's stock after selling 626,260 shares during the quarter. Olema Pharmaceuticals accounts for 3.8% of Bain Capital Life Sciences Investors LLC's holdings, making the stock its 8th largest holding. Bain Capital Life Sciences Investors LLC owned 10.01% of Olema Pharmaceuticals worth $25,733,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. Paradigm Biocapital Advisors LP increased its stake 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 valued at $42,588,000 after acquiring an additional 1,801,370 shares during the last quarter. MPM Bioimpact LLC increased its stake in Olema Pharmaceuticals by 0.6% in the first quarter. MPM Bioimpact LLC now owns 2,930,446 shares of the company's stock valued at $11,018,000 after acquiring an additional 17,896 shares during the last quarter. Lightspeed Management Company L.L.C. bought a new stake in shares of Olema Pharmaceuticals during the fourth quarter worth $11,257,000. Wellington Management Group LLP increased its holdings in shares of 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 buying an additional 522,799 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in shares of Olema Pharmaceuticals by 59.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,127,589 shares of the company's stock worth $6,574,000 after buying an additional 418,492 shares in the last quarter. 91.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OLMA. The Goldman Sachs Group lowered their price target 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. Citigroup upped their price target on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Zacks Research raised shares of Olema Pharmaceuticals to a "strong sell" rating in a research note on Monday, August 11th. JPMorgan Chase & Co. boosted their price objective on shares of Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Finally, Oppenheimer reissued an "outperform" rating and issued a $22.00 price objective on shares of Olema Pharmaceuticals in a research note on Wednesday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Olema Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Olema Pharmaceuticals Trading Up 30.9%

OLMA traded up $1.96 during trading on Friday, reaching $8.31. 3,845,447 shares of the stock traded hands, compared to its average volume of 656,744. 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 stock has a market capitalization of $570.35 million, a PE ratio of -4.20 and a beta of 1.92. The stock's 50-day moving average is $5.14 and its 200 day moving average is $4.66. Olema Pharmaceuticals, Inc. has a 12 month low of $2.86 and a 12 month high of $13.93.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last issued 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). Equities analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.

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.