Geode Capital Management LLC Decreases Stock Position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Geode Capital Management LLC lessened its holdings in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 11.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 934,929 shares of the company’s stock after selling 125,170 shares during the period. Geode Capital Management LLC owned about 1.63% of Olema Pharmaceuticals worth $11,165,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in shares of Olema Pharmaceuticals during the second quarter worth $34,753,000. Great Point Partners LLC purchased a new position in shares of Olema Pharmaceuticals during the second quarter worth approximately $8,622,000. Candriam S.C.A. grew its stake in Olema Pharmaceuticals by 199.9% in the second quarter. Candriam S.C.A. now owns 1,058,673 shares of the company’s stock worth $11,454,000 after purchasing an additional 705,655 shares in the last quarter. Affinity Asset Advisors LLC purchased a new position in Olema Pharmaceuticals during the 2nd quarter worth $2,976,000. Finally, Charles Schwab Investment Management Inc. raised its position in Olema Pharmaceuticals by 168.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 330,761 shares of the company’s stock valued at $3,949,000 after purchasing an additional 207,565 shares in the last quarter. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, Director G. Walmsley Graham sold 700,761 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $6.75, for a total value of $4,730,136.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David C. Myles sold 12,452 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $9.38, for a total transaction of $116,799.76. Following the sale, the insider now directly owns 611,947 shares in the company, valued at approximately $5,740,062.86. This represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 773,797 shares of company stock worth $5,414,609. 19.40% of the stock is owned by corporate insiders.

Olema Pharmaceuticals Stock Up 3.9 %

Shares of NASDAQ:OLMA opened at $5.83 on Wednesday. The firm has a 50 day moving average of $9.33 and a 200 day moving average of $11.35. The company has a market capitalization of $334.05 million, a price-to-earnings ratio of -2.66 and a beta of 1.92. Olema Pharmaceuticals, Inc. has a 52 week low of $5.56 and a 52 week high of $16.77.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday, December 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Olema Pharmaceuticals has a consensus rating of “Buy” and an average target price of $27.00.

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.