593,829 Shares in Olema Pharmaceuticals, Inc. $OLMA Acquired by Readystate Asset Management LP

Readystate Asset Management LP acquired a new stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 593,829 shares of the company’s stock, valued at approximately $7,429,000.

Other large investors have also recently bought and sold shares of the company. Jupiter Topco LLC acquired a new stake in Olema Pharmaceuticals during the 2nd quarter worth $88,803,000. BlackRock Inc. acquired a new position in Olema Pharmaceuticals in the second quarter valued at about $84,001,000. Siren L.L.C. acquired a new position in Olema Pharmaceuticals in the fourth quarter valued at about $82,518,000. Janus Henderson Group PLC increased its holdings in shares of Olema Pharmaceuticals by 87.1% in the fourth quarter. Janus Henderson Group PLC now owns 6,710,194 shares of the company’s stock worth $167,901,000 after acquiring an additional 3,124,345 shares in the last quarter. Finally, Cormorant Asset Management LP acquired a new stake in shares of Olema Pharmaceuticals during the fourth quarter worth about $68,750,000. Institutional investors own 91.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on OLMA shares. Weiss Ratings cut Olema Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 31st. Guggenheim cut their price target on shares of Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Citigroup reduced their price target on shares of Olema Pharmaceuticals to $59.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. HC Wainwright lowered their price objective on shares of Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Finally, Wall Street Zen cut shares of Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 25th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.40.

Olema Pharmaceuticals Price Performance

Shares of OLMA opened at $10.75 on Monday. The company has a quick ratio of 8.86, a current ratio of 8.86 and a debt-to-equity ratio of 0.01. Olema Pharmaceuticals, Inc. has a twelve month low of $6.35 and a twelve month high of $36.26. The stock has a market capitalization of $940.62 million, a P/E ratio of -5.07 and a beta of 1.98. The company has a 50 day moving average of $11.42 and a 200-day moving average of $13.85.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.06). As a group, equities research analysts forecast that Olema Pharmaceuticals, Inc. will post -2.43 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Cyrus Harmon sold 12,500 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $11.58, for a total value of $144,750.00. Following the completion of the transaction, the director owned 715,270 shares in the company, valued at $8,282,826.60. This trade represents a 1.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.56% of the stock is owned by company insiders.

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.