Cormorant Asset Management LP Purchases Shares of 2,750,000 Olema Pharmaceuticals, Inc. $OLMA

Cormorant Asset Management LP acquired a new position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,750,000 shares of the company’s stock, valued at approximately $68,750,000. Olema Pharmaceuticals accounts for about 3.2% of Cormorant Asset Management LP’s holdings, making the stock its 9th biggest position.

Several other large investors also recently made changes to their positions in OLMA. SG Americas Securities LLC acquired a new position in shares of Olema Pharmaceuticals during the 4th quarter valued at $1,735,000. Hennion & Walsh Asset Management Inc. raised its position in 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 acquired a new position in shares of Olema Pharmaceuticals during the fourth quarter worth about $24,100,000. Kingdon Capital Management L.L.C. acquired a new stake in shares of Olema Pharmaceuticals in the third quarter valued at about $8,361,000. Finally, Tema Etfs LLC purchased a new stake in shares of Olema Pharmaceuticals during the 4th quarter valued at about $1,113,000. Institutional investors and hedge funds own 91.78% of the company’s stock.

Olema Pharmaceuticals Price Performance

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

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.52). Sell-side analysts expect that Olema Pharmaceuticals, Inc. will post -2.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on OLMA. Weiss Ratings restated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Tuesday, April 21st. Wall Street Zen raised shares of Olema Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Monday, April 27th. The Goldman Sachs Group decreased their target price 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. HC Wainwright reaffirmed a “buy” rating on shares of Olema Pharmaceuticals in a report on Friday, May 22nd. Finally, Guggenheim dropped 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. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.10.

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.