Woodline Partners LP Acquires 120,428 Shares of Olema Pharmaceuticals, Inc. $OLMA

Key Points

• Woodline Partners LP has increased its holdings in Olema Pharmaceuticals by 8.9%, owning approximately 2.16% of the company, valued at around $5.6 million.
• Several institutional investors, including Bank of America Corp and Northern Trust Corp, have significantly boosted their stakes in Olema Pharmaceuticals during the last quarter.
• The stock recently opened at $7.77 and has received positive ratings from analysts, with price targets ranging from $21.00 to $29.00 amid a consensus rating of "Moderate Buy."

Woodline Partners LP increased its holdings in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 8.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,477,907 shares of the company's stock after purchasing an additional 120,428 shares during the period. Woodline Partners LP owned 2.16% of Olema Pharmaceuticals worth $5,557,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted 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 purchasing an additional 358,412 shares in the last quarter. AQR Capital Management LLC bought a new stake in Olema Pharmaceuticals in the 1st quarter worth approximately $172,000. MPM Bioimpact LLC increased its stake in Olema Pharmaceuticals by 0.6% in the 1st quarter. MPM Bioimpact LLC now owns 2,930,446 shares of the company's stock worth $11,018,000 after acquiring an additional 17,896 shares during the last quarter. PDT Partners LLC bought a new stake in Olema Pharmaceuticals in the 1st quarter worth approximately $279,000. Finally, Cubist Systematic Strategies LLC increased its stake in Olema Pharmaceuticals by 260.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 93,669 shares of the company's stock worth $352,000 after acquiring an additional 67,682 shares during the last quarter. 91.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OLMA has been the topic of a number of research reports. Oppenheimer reaffirmed an "outperform" rating and issued a $22.00 price objective on shares of Olema Pharmaceuticals in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. lifted their price objective on Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Zacks Research raised Olema Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 9th. Finally, Citigroup lifted their price objective on Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $24.00.

Olema Pharmaceuticals Trading Up 7.0%

Shares of NASDAQ OLMA traded up $0.55 during trading hours on Thursday, hitting $8.30. 378,129 shares of the company traded hands, compared to its average volume of 899,711. The company's 50 day moving average price is $5.66 and its 200 day moving average price is $4.83. The stock has a market capitalization of $569.29 million, a price-to-earnings ratio of -4.18 and a beta of 1.92. 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 12 month low of $2.86 and a 12 month high of $13.93.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.08). On average, equities research analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current fiscal 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.