Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Stock Position Raised by Franklin Resources Inc.

Franklin Resources Inc. raised its stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 1,714.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 273,706 shares of the company's stock after acquiring an additional 258,625 shares during the quarter. Franklin Resources Inc. owned approximately 0.48% of Olema Pharmaceuticals worth $1,596,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in OLMA. KLP Kapitalforvaltning AS acquired a new position in Olema Pharmaceuticals in the fourth quarter valued at $30,000. Teacher Retirement System of Texas purchased a new stake in Olema Pharmaceuticals during the 4th quarter worth $60,000. Vontobel Holding Ltd. purchased a new position in Olema Pharmaceuticals in the fourth quarter valued at about $62,000. Fox Run Management L.L.C. acquired a new position in shares of Olema Pharmaceuticals during the fourth quarter worth about $80,000. Finally, SG Americas Securities LLC grew its stake in shares of Olema Pharmaceuticals by 33.8% in the fourth quarter. SG Americas Securities LLC now owns 17,475 shares of the company's stock valued at $102,000 after buying an additional 4,419 shares in the last quarter. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Olema Pharmaceuticals Stock Up 3.8 %

NASDAQ OLMA traded up $0.16 on Friday, reaching $4.42. 615,557 shares of the stock traded hands, compared to its average volume of 859,731. Olema Pharmaceuticals, Inc. has a 12 month low of $2.86 and a 12 month high of $16.62. The firm's fifty day simple moving average is $4.20 and its 200 day simple moving average is $7.03. The company has a market cap of $302.03 million, a price-to-earnings ratio of -2.02 and a beta of 2.10.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last posted its quarterly earnings results on Tuesday, March 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.12. As a group, equities research analysts forecast that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on OLMA shares. HC Wainwright reiterated a "buy" rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research note on Wednesday, March 19th. JPMorgan Chase & Co. cut their price target on Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $25.00 target price (down from $30.00) on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th.

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.