Woodline Partners LP Boosts Holdings in 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 raised its holdings in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 8.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,477,907 shares of the company's stock after buying an additional 120,428 shares during the quarter. Woodline Partners LP owned approximately 2.16% of Olema Pharmaceuticals worth $5,557,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Northern Trust Corp lifted its stake in shares of Olema Pharmaceuticals by 8.7% in the 4th quarter. Northern Trust Corp now owns 423,787 shares of the company's stock valued at $2,471,000 after purchasing an additional 34,053 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Olema Pharmaceuticals in the 4th quarter valued at about $1,130,000. Bank of America Corp DE lifted its stake in shares of Olema Pharmaceuticals by 110.6% in the 4th quarter. Bank of America Corp DE now owns 865,339 shares of the company's stock valued at $5,045,000 after purchasing an additional 454,400 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Olema Pharmaceuticals in the 4th quarter valued at about $152,000. Finally, Deutsche Bank AG grew its stake in Olema Pharmaceuticals by 45.0% during the fourth quarter. Deutsche Bank AG now owns 39,331 shares of the company's stock worth $229,000 after buying an additional 12,199 shares during the period. Hedge funds and other institutional investors own 91.78% of the company's stock.

Olema Pharmaceuticals Stock Performance

Olema Pharmaceuticals stock opened at $7.77 on Friday. The stock's 50 day moving average price is $5.47 and its 200 day moving average price is $4.76. The firm has a market capitalization of $533.26 million, a PE ratio of -3.92 and a beta of 1.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.09 and a current ratio of 11.09. Olema Pharmaceuticals, Inc. has a one year low of $2.86 and a one year high of $13.93.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.08). As a group, sell-side analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Analysts Set New Price Targets

OLMA has been the subject of several recent research reports. Zacks Research raised shares of Olema Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Tuesday. Citigroup increased their price objective on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Oppenheimer reissued an "outperform" rating and issued a $22.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Olema Pharmaceuticals from $28.00 to $29.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $24.00.

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.

Want to see what other hedge funds are holding OLMA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.