UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 7,616 Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 9.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,974 shares of the company’s stock after selling 7,616 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Olema Pharmaceuticals were worth $907,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in OLMA. Ensign Peak Advisors Inc grew its holdings in shares of Olema Pharmaceuticals by 6.1% during the second quarter. Ensign Peak Advisors Inc now owns 14,849 shares of the company’s stock worth $161,000 after purchasing an additional 850 shares during the last quarter. ClariVest Asset Management LLC boosted its position in Olema Pharmaceuticals by 3.1% during the 2nd quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company’s stock worth $683,000 after buying an additional 1,881 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in Olema Pharmaceuticals by 67.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock worth $132,000 after acquiring an additional 4,442 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Olema Pharmaceuticals by 52.2% during the second quarter. The Manufacturers Life Insurance Company now owns 15,888 shares of the company’s stock worth $172,000 after purchasing an additional 5,449 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Olema Pharmaceuticals in the third quarter worth $156,000. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Olema Pharmaceuticals

In other news, insider David C. Myles sold 12,452 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $9.38, for a total value of $116,799.76. Following the transaction, the insider now directly owns 611,947 shares of the company’s stock, valued at $5,740,062.86. The trade was a 1.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sean Bohen sold 52,328 shares of Olema Pharmaceuticals stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $9.37, for a total value of $490,313.36. Following the completion of the sale, the chief executive officer now owns 298,836 shares of the company’s stock, valued at approximately $2,800,093.32. The trade was a 14.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 773,797 shares of company stock worth $5,414,609 over the last quarter. Company insiders own 19.40% of the company’s stock.

Olema Pharmaceuticals Stock Performance

NASDAQ:OLMA opened at $5.79 on Friday. Olema Pharmaceuticals, Inc. has a 52 week low of $5.56 and a 52 week high of $16.77. The firm’s fifty day moving average is $10.28 and its 200-day moving average is $11.76. The firm has a market cap of $331.76 million, a P/E ratio of -2.64 and a beta of 1.92.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Wednesday, December 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $27.00.

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.