Affinity Asset Advisors LLC Purchases Shares of 275,000 Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Affinity Asset Advisors LLC acquired a new position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 275,000 shares of the company’s stock, valued at approximately $2,976,000. Affinity Asset Advisors LLC owned approximately 0.49% of Olema Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Ensign Peak Advisors Inc boosted its stake in Olema Pharmaceuticals by 6.1% in the 2nd 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 period. California State Teachers Retirement System lifted its stake in Olema Pharmaceuticals by 3.4% during the first quarter. California State Teachers Retirement System now owns 34,695 shares of the company’s stock worth $393,000 after purchasing an additional 1,132 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Olema Pharmaceuticals by 6.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,251 shares of the company’s stock worth $298,000 after purchasing an additional 1,486 shares during the period. ClariVest Asset Management LLC lifted its stake in Olema Pharmaceuticals by 3.1% in the second quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company’s stock worth $683,000 after purchasing an additional 1,881 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings 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 worth $120,000 after buying an additional 4,221 shares during the period. 91.78% of the stock is owned by institutional investors.

Olema Pharmaceuticals Stock Performance

Shares of NASDAQ OLMA opened at $12.62 on Wednesday. The company has a 50 day moving average of $13.03 and a 200 day moving average of $11.76. Olema Pharmaceuticals, Inc. has a twelve month low of $8.51 and a twelve month high of $17.79.

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

Insider Buying and Selling at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 20,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $10.77, for a total transaction of $215,400.00. Following the completion of the sale, the director now owns 761,283 shares of the company’s stock, valued at approximately $8,199,017.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Cyrus Harmon sold 20,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $10.77, for a total transaction of $215,400.00. Following the completion of the sale, the director now owns 761,283 shares of the company’s stock, valued at approximately $8,199,017.91. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now owns 783,118 shares of the company’s stock, valued at $11,676,289.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,429,066 shares of company stock worth $36,124,048. Insiders own 19.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on OLMA shares. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $27.00.

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.