13,416 Shares in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Purchased by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC purchased a new stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) in the 2nd quarter, Holdings Channel reports. The fund purchased 13,416 shares of the company’s stock, valued at approximately $145,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OLMA. China Universal Asset Management Co. Ltd. raised its stake in shares of Olema Pharmaceuticals by 66.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 10,562 shares of the company’s stock valued at $120,000 after acquiring an additional 4,221 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Olema Pharmaceuticals during the first quarter worth $161,000. Ensign Peak Advisors Inc increased its stake in shares of Olema Pharmaceuticals by 6.1% in the second quarter. Ensign Peak Advisors Inc now owns 14,849 shares of the company’s stock valued at $161,000 after buying an additional 850 shares in the last quarter. EntryPoint Capital LLC raised its holdings in shares of Olema Pharmaceuticals by 949.9% in the first quarter. EntryPoint Capital LLC now owns 14,530 shares of the company’s stock valued at $164,000 after buying an additional 13,146 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Olema Pharmaceuticals by 52.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,888 shares of the company’s stock worth $172,000 after buying an additional 5,449 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Olema Pharmaceuticals Stock Performance

OLMA opened at $11.65 on Wednesday. Olema Pharmaceuticals, Inc. has a 52 week low of $8.51 and a 52 week high of $17.79. The company has a fifty day moving average price of $12.08 and a two-hundred day moving average price of $11.78. The firm has a market capitalization of $651.63 million, a PE ratio of -5.77 and a beta of 2.02.

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, hitting analysts’ consensus estimates of ($0.54). Equities analysts forecast that Olema Pharmaceuticals, Inc. will post -1.51 EPS for the current year.

Analyst Ratings Changes

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

Insider Activity

In related news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $14.91, for a total transaction of $35,784,000.00. Following the completion of the sale, the insider now directly owns 783,118 shares of the company’s stock, valued at approximately $11,676,289.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Cyrus Harmon sold 4,066 shares of the business’s stock in a transaction on 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 directly owns 752,217 shares of the company’s stock, valued at approximately $11,719,540.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $14.91, for a total value of $35,784,000.00. Following the transaction, the insider now owns 783,118 shares of the company’s stock, valued at approximately $11,676,289.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 19.40% of the stock is currently owned by company insiders.

About Olema Pharmaceuticals

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.