Adage Capital Partners GP L.L.C. Cuts Stock Position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Adage Capital Partners GP L.L.C. trimmed its holdings in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 8.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 365,198 shares of the company’s stock after selling 34,802 shares during the period. Adage Capital Partners GP L.L.C. owned 0.64% of Olema Pharmaceuticals worth $2,129,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS purchased a new stake in shares of Olema Pharmaceuticals in the fourth quarter worth about $30,000. Hsbc Holdings PLC acquired a new position in Olema Pharmaceuticals during the 4th quarter worth approximately $58,000. Teacher Retirement System of Texas purchased a new position in Olema Pharmaceuticals in the 4th quarter worth approximately $60,000. Vontobel Holding Ltd. acquired a new stake in Olema Pharmaceuticals in the fourth quarter valued at approximately $62,000. Finally, Syon Capital LLC purchased a new stake in shares of Olema Pharmaceuticals during the fourth quarter valued at approximately $77,000. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Olema Pharmaceuticals Trading Up 3.1 %

OLMA stock opened at $5.04 on Wednesday. The company has a market capitalization of $344.40 million, a P/E ratio of -2.30 and a beta of 2.10. The firm has a 50 day simple moving average of $4.19 and a 200-day simple moving average of $6.72. Olema Pharmaceuticals, Inc. has a twelve month low of $2.86 and a twelve month high of $16.62.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its earnings results on Tuesday, March 18th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.12. On average, research analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OLMA. JPMorgan Chase & Co. decreased their target price on shares of Olema Pharmaceuticals from $30.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Monday. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $25.00 target price (down from $30.00) on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th.

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.