Paradigm Biocapital Advisors LP Has $25.35 Million Holdings in Olema Pharmaceuticals, Inc. $OLMA

Key Points

• Paradigm Biocapital Advisors LP reduced its stake in Olema Pharmaceuticals by 7.7%, now holding approximately 6.74 million shares worth about $25.35 million.
• Research analysts have set varying price targets for Olema Pharmaceuticals, with JPMorgan Chase increasing its target to $29, while Goldman Sachs lowered it to $18.
• Olema Pharmaceuticals reported a quarterly earnings miss, posting an EPS of ($0.51), which fell short of the consensus estimate of ($0.43).

Paradigm Biocapital Advisors LP lessened its position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 7.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,741,172 shares of the company's stock after selling 563,798 shares during the period. Olema Pharmaceuticals comprises about 1.2% of Paradigm Biocapital Advisors LP's portfolio, making the stock its 21st largest holding. Paradigm Biocapital Advisors LP owned 9.86% of Olema Pharmaceuticals worth $25,347,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. lifted its stake in shares of Olema Pharmaceuticals by 22.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,892 shares of the company's stock worth $56,000 after buying an additional 2,743 shares during the last quarter. Boothbay Fund Management LLC boosted its holdings in shares of Olema Pharmaceuticals by 10.8% during 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. ProShare Advisors LLC boosted its holdings in shares of Olema Pharmaceuticals by 30.2% during the fourth quarter. ProShare Advisors LLC now owns 14,226 shares of the company's stock worth $83,000 after acquiring an additional 3,298 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Olema Pharmaceuticals by 2.6% during the first quarter. Bank of New York Mellon Corp now owns 131,994 shares of the company's stock worth $496,000 after acquiring an additional 3,328 shares during the period. Finally, Alps Advisors Inc. boosted its holdings in shares of Olema Pharmaceuticals by 9.0% during the first quarter. Alps Advisors Inc. now owns 50,484 shares of the company's stock worth $190,000 after acquiring an additional 4,149 shares during the period. Institutional investors and hedge funds own 91.78% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OLMA. JPMorgan Chase & Co. boosted their price objective on Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Zacks Research upgraded Olema Pharmaceuticals to a "strong sell" rating in a report on Monday, August 11th. Citigroup boosted their price objective on Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. The Goldman Sachs Group dropped their price target on shares of Olema Pharmaceuticals from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $22.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $24.00.

Olema Pharmaceuticals Stock Performance

NASDAQ OLMA traded down $0.18 during trading on Wednesday, hitting $6.29. 1,821,613 shares of the company's stock were exchanged, compared to its average volume of 424,996. The company has a quick ratio of 11.09, a current ratio of 11.09 and a debt-to-equity ratio of 0.01. Olema Pharmaceuticals, Inc. has a fifty-two week low of $2.86 and a fifty-two week high of $13.93. The stock's 50 day moving average price is $5.00 and its two-hundred day moving average price is $4.62.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.08). On average, equities research analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal 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.