Dana Investment Advisors Inc. Takes Position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Dana Investment Advisors Inc. acquired a new stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 74,657 shares of the company’s stock, valued at approximately $808,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. First Light Asset Management LLC purchased a new position in shares of Olema Pharmaceuticals during the 4th quarter valued at $8,854,000. Perceptive Advisors LLC purchased a new stake in shares of Olema Pharmaceuticals in the fourth quarter worth $7,574,000. Janus Henderson Group PLC boosted its stake in Olema Pharmaceuticals by 74.5% during the first quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock valued at $13,817,000 after buying an additional 521,562 shares during the period. Entropy Technologies LP purchased a new position in Olema Pharmaceuticals during the first quarter worth about $161,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Olema Pharmaceuticals during the first quarter worth about $176,000. Institutional investors own 91.78% of the company’s stock.

Insiders Place Their Bets

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 transaction, the director now directly owns 752,217 shares of the company’s stock, valued at $11,719,540.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Cyrus Harmon sold 4,066 shares of Olema Pharmaceuticals 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 transaction, the director now directly owns 752,217 shares of the company’s stock, valued at $11,719,540.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $14.91, for a total transaction of $35,784,000.00. Following the sale, 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 2,409,066 shares of company stock valued at $35,908,648 over the last three months. Insiders own 19.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Olema Pharmaceuticals Trading Down 4.1 %

Shares of NASDAQ OLMA opened at $11.56 on Friday. The stock’s 50-day moving average is $12.66 and its 200 day moving average is $11.76. The stock has a market cap of $646.60 million, a price-to-earnings ratio of -5.72 and a beta of 2.02. Olema Pharmaceuticals, Inc. has a 1-year low of $8.51 and a 1-year high of $17.79.

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

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.