Deerfield Management Company L.P. Series C Buys Shares of 31,405 Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Deerfield Management Company L.P. Series C purchased a new position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 31,405 shares of the company’s stock, valued at approximately $340,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Point72 Asset Management L.P. purchased a new stake in Olema Pharmaceuticals in the second quarter valued at about $34,753,000. Great Point Partners LLC purchased a new position in shares of Olema Pharmaceuticals in the 2nd quarter valued at approximately $8,622,000. Candriam S.C.A. boosted its stake in Olema Pharmaceuticals by 199.9% in the 2nd 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. First Light Asset Management LLC purchased a new stake in Olema Pharmaceuticals during the 4th quarter worth approximately $8,854,000. Finally, Perceptive Advisors LLC acquired a new position in Olema Pharmaceuticals during the 4th quarter valued at approximately $7,574,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OLMA. JPMorgan Chase & Co. dropped their price objective on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Oppenheimer reiterated an “outperform” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $27.00.

Insider Activity at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 4,066 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.58, for a total transaction of $63,348.28. Following the sale, the director now directly owns 752,217 shares in the company, valued at approximately $11,719,540.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Cyrus Harmon sold 4,066 shares of Olema Pharmaceuticals stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.58, for a total value of $63,348.28. Following the sale, the director now owns 752,217 shares in the company, valued at $11,719,540.86. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $14.91, for a total value of $35,784,000.00. Following the transaction, the insider now directly owns 783,118 shares of the company’s stock, valued at approximately $11,676,289.38. The disclosure for this sale can be found here. Insiders sold a total of 2,409,066 shares of company stock worth $35,908,648 in the last three months. Company insiders own 19.40% of the company’s stock.

Olema Pharmaceuticals Stock Performance

Shares of OLMA opened at $12.19 on Friday. The company has a market capitalization of $698.12 million, a P/E ratio of -6.03 and a beta of 2.03. The business’s 50-day moving average is $12.90 and its two-hundred day moving average is $11.76. Olema Pharmaceuticals, Inc. has a fifty-two week low of $8.51 and a fifty-two week high of $17.79.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.54) earnings per share for the quarter, meeting the consensus estimate of ($0.54). Analysts forecast that Olema Pharmaceuticals, Inc. will post -1.51 EPS for the current year.

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.