Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC increased its stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 435.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 157,300 shares of the company's stock after buying an additional 127,900 shares during the quarter. Renaissance Technologies LLC owned about 0.27% of Olema Pharmaceuticals worth $917,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in Olema Pharmaceuticals by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 332,950 shares of the company's stock valued at $1,941,000 after purchasing an additional 2,189 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Olema Pharmaceuticals by 33.8% in the 4th quarter. SG Americas Securities LLC now owns 17,475 shares of the company's stock valued at $102,000 after purchasing an additional 4,419 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Olema Pharmaceuticals during the 4th quarter valued at approximately $30,000. Wells Fargo & Company MN grew its position in shares of Olema Pharmaceuticals by 35.5% during the fourth quarter. Wells Fargo & Company MN now owns 22,725 shares of the company's stock worth $132,000 after buying an additional 5,958 shares in the last quarter. Finally, Dana Investment Advisors Inc. increased its stake in shares of Olema Pharmaceuticals by 7.3% in the fourth quarter. Dana Investment Advisors Inc. now owns 92,039 shares of the company's stock worth $537,000 after buying an additional 6,232 shares during the last quarter. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Olema Pharmaceuticals Stock Down 17.3 %

Shares of NASDAQ:OLMA traded down $0.96 on Tuesday, reaching $4.60. 1,631,984 shares of the company's stock were exchanged, compared to its average volume of 872,519. The business's 50-day moving average is $4.25 and its two-hundred day moving average is $6.48. Olema Pharmaceuticals, Inc. has a fifty-two week low of $2.86 and a fifty-two week high of $16.62. The firm has a market capitalization of $314.46 million, a price-to-earnings ratio of -2.10 and a beta of 2.03.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.12. Analysts predict 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.