Olema Pharmaceuticals, Inc. $OLMA Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has reduced its stake in Olema Pharmaceuticals by 3.4%, now holding approximately 1.47 million shares valued at $5.54 million.
• Several institutional investors, including China Universal Asset Management and Boothbay Fund Management, have increased their holdings in Olema Pharmaceuticals, which is predominantly owned by institutional investors at 91.78%.
• The company's recent earnings report revealed an EPS of ($0.51), missing estimates, while analysts have varying price targets, reflecting a consensus target price of $24.00.

Wellington Management Group LLP reduced its stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,473,679 shares of the company's stock after selling 51,805 shares during the quarter. Wellington Management Group LLP owned 2.16% of Olema Pharmaceuticals worth $5,541,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised 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 period. Hsbc Holdings PLC purchased a new position in Olema Pharmaceuticals during the fourth quarter valued at $58,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at about $64,000. Brooklyn Investment Group acquired a new stake in shares of Olema Pharmaceuticals in the first quarter valued at about $71,000. Finally, Corton Capital Inc. grew its position in shares of Olema Pharmaceuticals by 25.6% in the first quarter. Corton Capital Inc. now owns 21,741 shares of the company's stock valued at $82,000 after purchasing an additional 4,433 shares during the period. 91.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OLMA has been the topic of several research analyst reports. Zacks Research upgraded shares of Olema Pharmaceuticals to a "strong sell" rating in a research report on Monday, August 11th. The Goldman Sachs Group dropped their target price on shares of Olema Pharmaceuticals from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Oppenheimer dropped their price target on Olema Pharmaceuticals from $25.00 to $22.00 and set an "outperform" rating for the company in a research report on Wednesday, May 14th. JPMorgan Chase & Co. boosted their price target on Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Finally, Citigroup boosted their price target on Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Olema Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Olema Pharmaceuticals Stock Down 1.1%

NASDAQ:OLMA traded down $0.06 during trading hours on Friday, hitting $5.46. The company had a trading volume of 302,991 shares, compared to its average volume of 450,672. The company has a quick ratio of 11.09, a current ratio of 11.09 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $4.94 and a 200 day moving average of $4.61. Olema Pharmaceuticals, Inc. has a 1 year low of $2.86 and a 1 year high of $13.93.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.08). On average, analysts expect 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.