Pier Capital LLC Decreases Position in Olema Pharmaceuticals, Inc. $OLMA

Key Points

• Pier Capital cut its stake in Olema Pharmaceuticals by 73.3% in Q4, selling 384,148 shares and retaining 140,101 shares (about 0.20% of the company) worth $3.50 million.
• Other institutions moved into the stock—Jennison added a new ~$24.1 million position and Vanguard now holds 3.56 million shares (~$89.0 million)—leaving hedge funds and institutions with about 91.78% of outstanding shares.
• Shares opened at $15.13 (50-/200-day MAs $16.58/$20.27) for a $1.32B market cap; the company is unprofitable (negative P/E) but carries a consensus "Moderate Buy" with an average analyst target of $44.40.

Pier Capital LLC decreased its stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 73.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,101 shares of the company's stock after selling 384,148 shares during the period. Pier Capital LLC owned approximately 0.20% of Olema Pharmaceuticals worth $3,503,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Jennison Associates LLC acquired a new position in shares of Olema Pharmaceuticals in the fourth quarter worth about $24,100,000. Kingdon Capital Management L.L.C. acquired a new position in shares of Olema Pharmaceuticals in the third quarter worth about $8,361,000. Ameriprise Financial Inc. lifted its stake in shares of Olema Pharmaceuticals by 193.4% in the second quarter. Ameriprise Financial Inc. now owns 1,172,863 shares of the company's stock worth $4,996,000 after acquiring an additional 773,064 shares in the last quarter. Candriam S.C.A. lifted its stake in shares of Olema Pharmaceuticals by 46.9% in the third quarter. Candriam S.C.A. now owns 1,249,727 shares of the company's stock worth $12,235,000 after acquiring an additional 399,273 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Olema Pharmaceuticals by 11.4% in the fourth quarter. Vanguard Group Inc. now owns 3,561,355 shares of the company's stock worth $89,034,000 after acquiring an additional 364,035 shares in the last quarter. Hedge funds and other institutional investors own 91.78% of the company's stock.

Olema Pharmaceuticals Stock Performance

Shares of NASDAQ OLMA opened at $15.13 on Friday. The stock has a fifty day moving average price of $16.58 and a two-hundred day moving average price of $20.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.95 and a current ratio of 9.95. The firm has a market cap of $1.32 billion, a P/E ratio of -8.13 and a beta of 2.05. 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 released its quarterly earnings data on Monday, March 16th. The company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.01. Research analysts forecast that Olema Pharmaceuticals, Inc. will post -2.17 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on OLMA shares. Wolfe Research started coverage on Olema Pharmaceuticals in a research note on Friday, March 27th. They set a "peer perform" rating on the stock. Guggenheim cut their price objective on Olema Pharmaceuticals from $40.00 to $38.00 and set a "buy" rating on the stock in a research note on Tuesday, March 17th. Citigroup upped their price objective on Olema Pharmaceuticals from $60.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, March 17th. Wall Street Zen upgraded Olema Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research report on Monday, April 27th. Finally, HC Wainwright dropped their price target on Olema Pharmaceuticals from $45.00 to $38.00 and set a "buy" rating on the stock in a research report on Monday, March 9th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $44.40.

Insider Activity

In other news, insider Shawnte Mitchell sold 25,000 shares of the stock in a transaction on 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 hyperlink. 16.36% of the stock is owned by insiders.

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.

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