Persistent Asset Partners Ltd Buys 35,345 Shares of Olema Pharmaceuticals, Inc. $OLMA

Persistent Asset Partners Ltd increased its stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 153.8% in the second quarter, Holdings Channel reports. The firm owned 58,333 shares of the company’s stock after buying an additional 35,345 shares during the quarter. Persistent Asset Partners Ltd’s holdings in Olema Pharmaceuticals were worth $248,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MPM Bioimpact LLC increased its stake in shares of Olema Pharmaceuticals by 0.6% in the 1st quarter. MPM Bioimpact LLC now owns 2,930,446 shares of the company’s stock valued at $11,018,000 after acquiring an additional 17,896 shares during the last quarter. Woodline Partners LP grew its holdings in Olema Pharmaceuticals by 8.9% during the first quarter. Woodline Partners LP now owns 1,477,907 shares of the company’s stock valued at $5,557,000 after purchasing an additional 120,428 shares during the period. Geode Capital Management LLC increased its stake in Olema Pharmaceuticals by 22.4% in the second quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock valued at $5,650,000 after purchasing an additional 242,997 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Olema Pharmaceuticals by 93.6% in the first quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock worth $2,787,000 after purchasing an additional 358,412 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Olema Pharmaceuticals by 4.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 349,023 shares of the company’s stock worth $1,312,000 after purchasing an additional 16,073 shares in the last quarter. Institutional investors own 91.78% of the company’s stock.

Insiders Place Their Bets

In other news, Director Cyrus Harmon sold 3,086 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $8.32, for a total transaction of $25,675.52. Following the completion of the sale, the director owned 117,028 shares of the company’s stock, valued at approximately $973,672.96. This represents a 2.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 25,000 shares of company stock worth $204,841 over the last three months. Corporate insiders own 16.36% of the company’s stock.

Olema Pharmaceuticals Stock Up 5.8%

Olema Pharmaceuticals stock opened at $8.40 on Friday. The company’s 50-day moving average price is $8.91 and its two-hundred day moving average price is $6.31. The company has a quick ratio of 11.09, a current ratio of 8.03 and a debt-to-equity ratio of 0.01. The stock has a market cap of $576.74 million, a P/E ratio of -4.49 and a beta of 2.07. Olema Pharmaceuticals, Inc. has a twelve month low of $2.86 and a twelve month high of $11.54.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.05). As a group, analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Wall Street Analysts Forecast Growth

OLMA has been the subject of several research analyst reports. Zacks Research upgraded Olema Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 9th. UBS Group reiterated a “buy” rating on shares of Olema Pharmaceuticals in a research note on Monday, October 20th. Citigroup boosted their price target on shares of Olema Pharmaceuticals from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. HC Wainwright restated a “buy” rating and issued a $28.00 price objective on shares of Olema Pharmaceuticals in a report on Monday, October 20th. Finally, JPMorgan Chase & Co. lifted their target price on Olema Pharmaceuticals from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.00.

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.