Siren L.L.C. Boosts Stake in Olema Pharmaceuticals, Inc. $OLMA

Key Points

• Siren L.L.C. increased its stake in Olema Pharmaceuticals by 44.1% in the first quarter, adding 1.46 million shares and bringing its total holding to 4.76 million shares worth about $70.9 million.
• Institutional interest in OLMA remains high, with hedge funds and other investors holding 91.78% of the stock. Several firms, including Goldman Sachs, Jane Street, and Geode Capital, also boosted their positions.
• Wall Street sentiment is mixed but still constructive: the stock has a Moderate Buy consensus rating with a $44.10 average price target, even though recent shares trade around $11.74 and the company continues to report losses.

Siren L.L.C. boosted its position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 44.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 4,756,949 shares of the company's stock after acquiring an additional 1,456,249 shares during the quarter. Olema Pharmaceuticals comprises about 2.0% of Siren L.L.C.'s portfolio, making the stock its 12th largest position. Siren L.L.C. owned about 5.45% of Olema Pharmaceuticals worth $70,926,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC purchased a new position in shares of Olema Pharmaceuticals in the first quarter worth about $172,000. Goldman Sachs Group Inc. increased its holdings in Olema Pharmaceuticals by 93.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company's stock worth $2,787,000 after buying an additional 358,412 shares during the period. Jane Street Group LLC increased its holdings in Olema Pharmaceuticals by 216.8% in the 1st quarter. Jane Street Group LLC now owns 138,552 shares of the company's stock worth $521,000 after buying an additional 94,815 shares during the period. Geode Capital Management LLC raised its position in Olema Pharmaceuticals by 22.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company's stock worth $5,650,000 after buying an additional 242,997 shares during the last quarter. Finally, Creative Planning purchased a new position in Olema Pharmaceuticals during the 2nd quarter worth approximately $83,000. 91.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OLMA has been the topic of a number of research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Olema Pharmaceuticals in a research note on Friday, July 17th. HC Wainwright reaffirmed a "buy" rating on shares of Olema Pharmaceuticals in a research report on Friday, May 22nd. Wolfe Research began coverage on Olema Pharmaceuticals in a report on Friday, March 27th. They issued a "peer perform" rating for the company. Wall Street Zen upgraded Olema Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research note on Sunday, July 12th. Finally, Guggenheim dropped their target price on Olema Pharmaceuticals from $38.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, May 13th. 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.10.

Olema Pharmaceuticals Stock Performance

Shares of NASDAQ OLMA opened at $11.74 on Friday. The company has a market capitalization of $1.03 billion, a PE ratio of -5.81 and a beta of 2.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.88 and a current ratio of 10.88. The company's fifty day moving average price is $11.65 and its 200 day moving average price is $17.08. Olema Pharmaceuticals, Inc. has a 1 year low of $4.47 and a 1 year high of $36.26.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.52) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.52). On average, research analysts predict that Olema Pharmaceuticals, Inc. will post -2.22 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.

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