The Manufacturers Life Insurance Company Buys 5,449 Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

The Manufacturers Life Insurance Company boosted its position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 52.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 15,888 shares of the company’s stock after purchasing an additional 5,449 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Olema Pharmaceuticals were worth $172,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Olema Pharmaceuticals in the 2nd quarter valued at about $145,000. Entropy Technologies LP purchased a new stake in Olema Pharmaceuticals in the first quarter valued at approximately $161,000. Ensign Peak Advisors Inc grew 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 buying an additional 850 shares in the last quarter. EntryPoint Capital LLC increased its holdings in shares of Olema Pharmaceuticals by 949.9% in the 1st quarter. EntryPoint Capital LLC now owns 14,530 shares of the company’s stock worth $164,000 after buying an additional 13,146 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Olema Pharmaceuticals during the 1st quarter valued at $176,000. Institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Trading Up 1.0 %

OLMA opened at $12.43 on Friday. Olema Pharmaceuticals, Inc. has a 12 month low of $8.51 and a 12 month high of $17.79. The business’s 50-day moving average price is $12.08 and its 200-day moving average price is $11.80. The company has a market cap of $711.87 million, a P/E ratio of -6.00 and a beta of 2.02.

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

Insider Buying and Selling

In other Olema Pharmaceuticals news, 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 completion of the sale, the insider now owns 783,118 shares of the company’s stock, valued at $11,676,289.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Cyrus Harmon sold 4,066 shares of the business’s stock in a transaction that occurred on 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 approximately $11,719,540.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the firm’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 directly owns 783,118 shares of the company’s stock, valued at $11,676,289.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 19.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Oppenheimer restated 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 restated a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. reduced their price target 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 investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target 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.