Pitcairn Co. Reduces Stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Pitcairn Co. lessened its position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 9.1% in the third quarter, Holdings Channel reports. The fund owned 24,546 shares of the company’s stock after selling 2,467 shares during the quarter. Pitcairn Co.’s holdings in Olema Pharmaceuticals were worth $293,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. lifted its position in Olema Pharmaceuticals by 67.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock valued at $132,000 after purchasing an additional 4,442 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Olema Pharmaceuticals during the second quarter valued at approximately $145,000. SG Americas Securities LLC bought a new position in shares of Olema Pharmaceuticals in the third quarter worth approximately $156,000. 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 worth $161,000 after purchasing an additional 850 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Olema Pharmaceuticals during the 3rd quarter valued at $163,000. Institutional investors own 91.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OLMA. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Wednesday, November 13th. Oppenheimer reissued an “outperform” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. decreased 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 investment analysts have rated the stock with a buy rating, According to MarketBeat, Olema Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $27.00.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ:OLMA opened at $10.12 on Thursday. The firm has a market capitalization of $579.88 million, a PE ratio of -4.62 and a beta of 2.02. The business has a 50 day simple moving average of $11.44 and a two-hundred day simple moving average of $11.88. Olema Pharmaceuticals, Inc. has a 1 year low of $7.68 and a 1 year high of $16.77.

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.