Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Shares Acquired by MPM Bioimpact LLC

MPM Bioimpact LLC grew its holdings in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 8.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,912,550 shares of the company's stock after buying an additional 231,954 shares during the period. Olema Pharmaceuticals accounts for approximately 2.4% of MPM Bioimpact LLC's portfolio, making the stock its 16th largest position. MPM Bioimpact LLC owned about 5.08% of Olema Pharmaceuticals worth $16,980,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new position in Olema Pharmaceuticals during the fourth quarter worth about $30,000. Hsbc Holdings PLC purchased a new position in Olema Pharmaceuticals during the fourth quarter worth about $58,000. Teacher Retirement System of Texas purchased a new position in Olema Pharmaceuticals during the fourth quarter worth about $60,000. Vontobel Holding Ltd. purchased a new position in Olema Pharmaceuticals during the fourth quarter worth about $62,000. Finally, Virtus ETF Advisers LLC increased its holdings in Olema Pharmaceuticals by 43.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 10,579 shares of the company's stock valued at $62,000 after buying an additional 3,185 shares in the last quarter. 91.78% of the stock is owned by hedge funds and other institutional investors.

Olema Pharmaceuticals Price Performance

NASDAQ:OLMA traded up $0.02 during trading hours on Friday, reaching $4.71. 479,940 shares of the company were exchanged, compared to its average volume of 861,598. The firm has a market cap of $321.98 million, a price-to-earnings ratio of -2.15 and a beta of 2.03. Olema Pharmaceuticals, Inc. has a 52-week low of $2.86 and a 52-week high of $16.62. The stock has a 50 day simple moving average of $4.29 and a 200 day simple moving average of $6.12.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.36) earnings per share for the quarter, topping analysts' consensus estimates of ($0.49) by $0.13. On average, analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on OLMA. The Goldman Sachs Group dropped 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 target price on shares of Olema Pharmaceuticals in a research report on Monday, April 28th. Oppenheimer decreased 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. Finally, JPMorgan Chase & Co. cut their price target on shares of Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th.

About Olema Pharmaceuticals

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.