Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,716 shares of the company’s stock after selling 2,761 shares during the quarter. Legal & General Group Plc owned about 0.05% of Olema Pharmaceuticals worth $173,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of OLMA. JPMorgan Chase & Co. boosted its holdings in Olema Pharmaceuticals by 658.7% during the third quarter. JPMorgan Chase & Co. now owns 181,032 shares of the company’s stock worth $2,162,000 after buying an additional 157,171 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of Olema Pharmaceuticals during the 4th quarter valued at $510,000. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Olema Pharmaceuticals by 80.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 212,246 shares of the company’s stock worth $1,237,000 after acquiring an additional 94,651 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Olema Pharmaceuticals by 77.7% in the 4th quarter. Alliancebernstein L.P. now owns 313,982 shares of the company’s stock worth $1,831,000 after acquiring an additional 137,319 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Olema Pharmaceuticals by 105.0% during the third quarter. Barclays PLC now owns 94,915 shares of the company’s stock worth $1,133,000 after purchasing an additional 48,614 shares during the period. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and set a $25.00 price target (down previously from $30.00) on shares of Olema Pharmaceuticals in a report on Wednesday, March 19th. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Monday. Finally, JPMorgan Chase & Co. dropped their target price on Olema Pharmaceuticals from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, March 28th.

Olema Pharmaceuticals Price Performance

Shares of Olema Pharmaceuticals stock opened at $5.29 on Friday. The firm has a 50 day simple moving average of $4.20 and a 200 day simple moving average of $6.66. 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 cap of $361.48 million, a P/E ratio of -2.42 and a beta of 2.10.

Olema Pharmaceuticals (NASDAQ:OLMA) 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. On average, sell-side analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current 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.