Lightspeed Management Company L.L.C. Acquires Shares of 1,930,894 Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Lightspeed Management Company L.L.C. bought a new stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,930,894 shares of the company's stock, valued at approximately $11,257,000. Olema Pharmaceuticals makes up approximately 3.1% of Lightspeed Management Company L.L.C.'s holdings, making the stock its 5th biggest holding. Lightspeed Management Company L.L.C. owned 3.37% of Olema Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Deutsche Bank AG raised its position in 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 period. Driehaus Capital Management LLC purchased a new stake in Olema Pharmaceuticals in the 4th quarter worth about $1,284,000. Cubist Systematic Strategies LLC purchased a new stake in Olema Pharmaceuticals in the 4th quarter worth about $152,000. Balyasny Asset Management L.P. raised its position in Olema Pharmaceuticals by 59.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,127,589 shares of the company's stock worth $6,574,000 after purchasing an additional 418,492 shares during the period. Finally, Bank of America Corp DE raised its position in Olema Pharmaceuticals by 110.6% in the 4th quarter. Bank of America Corp DE now owns 865,339 shares of the company's stock worth $5,045,000 after purchasing an additional 454,400 shares during the period. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OLMA has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their price objective 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. Oppenheimer reduced their target price 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. JPMorgan Chase & Co. reduced their target price on shares of Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Monday, April 28th.

Olema Pharmaceuticals Stock Up 0.4%

Shares of NASDAQ OLMA traded up $0.02 during midday trading on Friday, reaching $4.71. 479,940 shares of the company's stock traded hands, compared to its average volume of 862,858. The stock's 50 day simple moving average is $4.29 and its 200-day simple moving average is $6.08. Olema Pharmaceuticals, Inc. has a one year low of $2.86 and a one year high of $16.62. The company has a market cap of $321.98 million, a price-to-earnings ratio of -2.15 and a beta of 2.03.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.49) by $0.13. Equities analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 EPS 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.