ACT Capital Management LLC Takes Position in Olema Pharmaceuticals, Inc. $OLMA

ACT Capital Management LLC purchased a new stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) during the 4th quarter, HoldingsChannel reports. The fund purchased 53,500 shares of the company’s stock, valued at approximately $1,338,000. Olema Pharmaceuticals accounts for 1.1% of ACT Capital Management LLC’s holdings, making the stock its 19th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at approximately $1,735,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Olema Pharmaceuticals by 83.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 447,046 shares of the company’s stock valued at $11,176,000 after purchasing an additional 202,970 shares during the period. Jennison Associates LLC bought a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at approximately $24,100,000. Kingdon Capital Management L.L.C. bought a new stake in shares of Olema Pharmaceuticals in the third quarter valued at approximately $8,361,000. Finally, Tema Etfs LLC bought a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at approximately $1,113,000. Institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Price Performance

OLMA stock opened at $9.44 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.88 and a quick ratio of 10.88. Olema Pharmaceuticals, Inc. has a one year low of $3.90 and a one year high of $36.26. The stock has a market cap of $824.58 million, a PE ratio of -4.67 and a beta of 1.98. The firm has a 50 day simple moving average of $13.62 and a two-hundred day simple moving average of $20.16.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.52) EPS for the quarter, hitting analysts’ consensus estimates of ($0.52). On average, analysts predict that Olema Pharmaceuticals, Inc. will post -2.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

OLMA has been the subject of several recent analyst reports. Citigroup boosted their price objective on shares of Olema Pharmaceuticals from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, March 17th. Jefferies Financial Group initiated coverage on shares of Olema Pharmaceuticals in a research note on Thursday, March 19th. They set a “buy” rating and a $40.00 price objective for the company. The Goldman Sachs Group reduced their price objective on shares of Olema Pharmaceuticals from $38.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, March 18th. JPMorgan Chase & Co. boosted their price objective on shares of Olema Pharmaceuticals from $55.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, March 18th. Finally, Guggenheim reduced their price objective on shares of Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $44.10.

Olema Pharmaceuticals 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.