Pictet Asset Management Holding SA Trims Stock Holdings in Olema Pharmaceuticals, Inc. $OLMA

Key Points

• Pictet Asset Management Holding SA trimmed its Olema stake by 69.3% in Q4, selling 1,133,804 shares and retaining 502,568 shares (about 0.73% of the company) worth roughly $12.6 million.
• Insider Shawnte Mitchell sold 25,000 shares on March 4 at $24.25 for about $606,250, and corporate insiders now own 16.36% of Olema.
• Analysts are generally positive — the stock has an average rating of "Moderate Buy" with an average target of $44.40 (11 Buys, 2 Holds, 1 Sell), compared with a recent price near $14.32.

Pictet Asset Management Holding SA lessened its holdings in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 69.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 502,568 shares of the company's stock after selling 1,133,804 shares during the period. Pictet Asset Management Holding SA owned 0.73% of Olema Pharmaceuticals worth $12,596,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of OLMA. Russell Investments Group Ltd. bought a new stake in shares of Olema Pharmaceuticals during the 3rd quarter valued at $53,000. American Century Companies Inc. bought a new stake in shares of Olema Pharmaceuticals during the 2nd quarter valued at $54,000. Creative Planning bought a new stake in shares of Olema Pharmaceuticals during the 2nd quarter valued at $83,000. Nisa Investment Advisors LLC boosted its holdings in shares of Olema Pharmaceuticals by 14.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,764 shares of the company's stock valued at $94,000 after buying an additional 477 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Olema Pharmaceuticals by 46.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,442 shares of the company's stock valued at $96,000 after buying an additional 7,146 shares in the last quarter. Institutional investors own 91.78% of the company's stock.

Insider Activity

In other news, insider Shawnte Mitchell sold 25,000 shares of Olema Pharmaceuticals stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total value of $606,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of Olema Pharmaceuticals in a report on Friday, March 27th. They set a "peer perform" rating on the stock. Guggenheim dropped their target price on shares of Olema Pharmaceuticals from $40.00 to $38.00 and set a "buy" rating on the stock in a report on Tuesday, March 17th. Citigroup boosted their target price on shares of Olema Pharmaceuticals from $60.00 to $62.00 and gave the company a "buy" rating in a report on Tuesday, March 17th. Stifel Nicolaus began coverage on shares of Olema Pharmaceuticals in a report on Wednesday, February 11th. They set a "buy" rating and a $48.00 target price on the stock. Finally, TD Cowen reaffirmed a "buy" rating on shares of Olema Pharmaceuticals in a research report on Monday, March 9th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Olema Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $44.40.

Olema Pharmaceuticals Price Performance

OLMA opened at $14.32 on Friday. The stock has a 50-day moving average price of $17.14 and a 200-day moving average price of $20.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.95 and a quick ratio of 9.95. The firm has a market cap of $1.25 billion, a PE ratio of -7.70 and a beta of 2.06. Olema Pharmaceuticals, Inc. has a 1 year low of $3.89 and a 1 year high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last posted its quarterly earnings results on Monday, March 16th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.01. Sell-side analysts predict that Olema Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal 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.

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