PDT Partners LLC Invests $279,000 in Olema Pharmaceuticals, Inc. $OLMA

Key Points

• PDT Partners LLC has acquired a new position in Olema Pharmaceuticals by purchasing 74,299 shares valued at approximately $279,000 during the first quarter.
• The company has recently experienced changes in institutional investor stakes, with China Universal Asset Management increasing its holdings by 22.6% in the same period.
• Olema Pharmaceuticals reported a quarterly loss of ($0.51) per share, missing analyst estimates, and is currently predicted to post a loss of -2.33 earnings per share for the fiscal year.

PDT Partners LLC acquired a new position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 74,299 shares of the company's stock, valued at approximately $279,000. PDT Partners LLC owned about 0.11% of Olema Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Olema Pharmaceuticals in the 1st quarter worth approximately $45,000. Alpine Global Management LLC bought a new stake in Olema Pharmaceuticals during the 1st quarter valued at $52,000. China Universal Asset Management Co. Ltd. raised its holdings in 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 valued at $56,000 after buying an additional 2,743 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Olema Pharmaceuticals during the 4th quarter valued at $58,000. Finally, Brooklyn Investment Group bought a new stake in Olema Pharmaceuticals during the 1st quarter valued at $71,000. 91.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OLMA. JPMorgan Chase & Co. upped their price target on shares of Olema Pharmaceuticals from $28.00 to $29.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Oppenheimer reiterated an "outperform" rating and set a $22.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, September 3rd. Zacks Research upgraded shares of Olema Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Tuesday. 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 report on Tuesday, August 12th. 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. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $24.00.

Olema Pharmaceuticals Trading Up 2.4%

NASDAQ OLMA traded up $0.19 during trading on Thursday, hitting $8.00. The company had a trading volume of 998,399 shares, compared to its average volume of 909,334. The company has a current ratio of 11.09, a quick ratio of 11.09 and a debt-to-equity ratio of 0.01. Olema Pharmaceuticals, Inc. has a one year low of $2.86 and a one year high of $13.93. The company has a market cap of $549.04 million, a price-to-earnings ratio of -4.04 and a beta of 1.92. The company's fifty day moving average is $5.40 and its 200-day moving average is $4.74.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.51) earnings per share for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.08). On average, sell-side analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.

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.