Goldman Sachs Group Inc. Raises Stock Position in Olema Pharmaceuticals, Inc. $OLMA

Goldman Sachs Group Inc. increased its stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 93.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 741,329 shares of the company’s stock after purchasing an additional 358,412 shares during the quarter. Goldman Sachs Group Inc. owned 1.08% of Olema Pharmaceuticals worth $2,787,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OLMA. China Universal Asset Management Co. Ltd. boosted its stake in shares of Olema Pharmaceuticals by 22.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 14,892 shares of the company’s stock worth $56,000 after acquiring an additional 2,743 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Olema Pharmaceuticals by 30.2% during the 4th quarter. ProShare Advisors LLC now owns 14,226 shares of the company’s stock worth $83,000 after acquiring an additional 3,298 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Olema Pharmaceuticals by 2.6% during the 1st quarter. Bank of New York Mellon Corp now owns 131,994 shares of the company’s stock valued at $496,000 after buying an additional 3,328 shares in the last quarter. Alps Advisors Inc. lifted its stake in shares of Olema Pharmaceuticals by 9.0% during the 1st quarter. Alps Advisors Inc. now owns 50,484 shares of the company’s stock valued at $190,000 after buying an additional 4,149 shares in the last quarter. Finally, Corton Capital Inc. lifted its stake in shares of Olema Pharmaceuticals by 25.6% during the 1st quarter. Corton Capital Inc. now owns 21,741 shares of the company’s stock valued at $82,000 after buying an additional 4,433 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 Cyrus Harmon sold 3,086 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $8.32, for a total value of $25,675.52. Following the completion of the transaction, the director owned 117,028 shares in the company, valued at $973,672.96. The trade was a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 25,000 shares of company stock valued at $204,841. 16.36% of the stock is currently owned by company insiders.

Olema Pharmaceuticals Stock Down 4.0%

Olema Pharmaceuticals stock opened at $8.17 on Friday. The business has a fifty day moving average of $5.80 and a two-hundred day moving average of $4.89. The company has a quick ratio of 11.09, a current ratio of 11.09 and a debt-to-equity ratio of 0.01. The firm has a market cap of $560.71 million, a P/E ratio of -4.13 and a beta of 1.92. Olema Pharmaceuticals, Inc. has a twelve month low of $2.86 and a twelve month high of $13.93.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.08). On average, analysts forecast that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Citigroup lifted their price target on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. lifted their price target on shares of Olema Pharmaceuticals from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. Oppenheimer restated an “outperform” rating and issued a $22.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday, September 3rd. Finally, Zacks Research upgraded shares of Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 9th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Olema Pharmaceuticals Company 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.