Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP cut its stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 12.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,000 shares of the company’s stock after selling 12,200 shares during the period. Two Sigma Advisers LP owned 0.16% of Olema Pharmaceuticals worth $519,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in OLMA. Bank of America Corp DE grew its stake in Olema Pharmaceuticals by 110.6% in the fourth 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 in the last quarter. Renaissance Technologies LLC boosted its position in shares of Olema Pharmaceuticals by 435.0% during the fourth quarter. Renaissance Technologies LLC now owns 157,300 shares of the company’s stock worth $917,000 after buying an additional 127,900 shares during the period. HighTower Advisors LLC acquired a new position in shares of Olema Pharmaceuticals during the fourth quarter worth approximately $510,000. Millennium Management LLC raised its holdings in Olema Pharmaceuticals by 1,154.4% during the fourth quarter. Millennium Management LLC now owns 979,219 shares of the company’s stock worth $5,709,000 after purchasing an additional 901,159 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP raised its holdings in Olema Pharmaceuticals by 32.7% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 7,304,970 shares of the company’s stock worth $42,588,000 after purchasing an additional 1,801,370 shares in the last quarter. 91.78% of the stock is owned by institutional investors and hedge funds.

Olema Pharmaceuticals Trading Down 7.5%

Shares of NASDAQ:OLMA opened at $4.05 on Wednesday. The stock has a market capitalization of $277.11 million, a PE ratio of -1.85 and a beta of 2.03. Olema Pharmaceuticals, Inc. has a 1 year low of $2.86 and a 1 year high of $16.62. The firm has a fifty day moving average price of $4.45 and a 200 day moving average price of $5.52.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.13. On average, sell-side analysts forecast that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on OLMA shares. Oppenheimer dropped their price target on Olema Pharmaceuticals from $25.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, May 14th. The Goldman Sachs Group cut their target price on shares of Olema Pharmaceuticals from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, May 14th. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. cut their price objective 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.

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.