Lightspeed Management Company L.L.C. Makes New Investment in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Lightspeed Management Company L.L.C. purchased a new stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 1,930,894 shares of the company's stock, valued at approximately $11,257,000. Olema Pharmaceuticals comprises 3.1% of Lightspeed Management Company L.L.C.'s portfolio, making the stock its 5th biggest position. Lightspeed Management Company L.L.C. owned approximately 3.37% of Olema Pharmaceuticals as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Deutsche Bank AG lifted its holdings in shares of Olema Pharmaceuticals by 45.0% in the 4th quarter. Deutsche Bank AG now owns 39,331 shares of the company's stock worth $229,000 after purchasing an additional 12,199 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in Olema Pharmaceuticals in the fourth quarter worth $1,284,000. Cubist Systematic Strategies LLC bought a new stake in Olema Pharmaceuticals in the fourth quarter valued at $152,000. Balyasny Asset Management L.P. boosted its holdings in shares of Olema Pharmaceuticals by 59.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,127,589 shares of the company's stock valued at $6,574,000 after acquiring an additional 418,492 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Olema Pharmaceuticals by 110.6% during the fourth quarter. Bank of America Corp DE now owns 865,339 shares of the company's stock valued at $5,045,000 after acquiring an additional 454,400 shares during the period. 91.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

OLMA has been the topic of several recent research reports. Oppenheimer cut their price objective on shares of Olema Pharmaceuticals from $25.00 to $22.00 and set an "outperform" rating on the stock in a research report on Wednesday. The Goldman Sachs Group reduced their target price on shares of Olema Pharmaceuticals from $20.00 to $18.00 and set a "buy" rating for the company in a report on Wednesday. HC Wainwright restated a "buy" rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. reduced their target price on Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating for the company in a report on Friday, March 28th.

Olema Pharmaceuticals Price Performance

Shares of OLMA stock traded up $0.19 on Thursday, reaching $4.69. 420,970 shares of the stock were exchanged, compared to its average volume of 866,441. The stock has a 50 day moving average price of $4.28 and a 200 day moving average price of $6.22. The stock has a market cap of $320.61 million, a PE ratio of -2.14 and a beta of 2.03. Olema Pharmaceuticals, Inc. has a one year low of $2.86 and a one year high of $16.62.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.49) by $0.13. On average, research analysts expect 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.