Wellington Management Group LLP trimmed its stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA – Free Report) by 20.8% during the second quarter, Holdings Channel reports. The institutional investor owned 526,446 shares of the company’s stock after selling 138,233 shares during the period. Wellington Management Group LLP’s holdings in Olema Pharmaceuticals were worth $6,586,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in shares of Olema Pharmaceuticals by 9,476.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock worth $31,000 after acquiring an additional 1,232 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Olema Pharmaceuticals during the third quarter valued at approximately $53,000. American Century Companies Inc. bought a new position in shares of Olema Pharmaceuticals in the second quarter worth about $54,000. Quantbot Technologies LP acquired a new position in Olema Pharmaceuticals during the 2nd quarter valued at $77,000. Finally, Creative Planning bought a new stake in shares of Olema Pharmaceuticals in the 2nd quarter worth approximately $83,000. Institutional investors and hedge funds own 91.78% of the company’s stock.
Olema Pharmaceuticals Stock Performance
OLMA opened at $10.98 on Wednesday. The business’s 50-day simple moving average is $11.37 and its 200 day simple moving average is $13.69. Olema Pharmaceuticals, Inc. has a 52-week low of $6.65 and a 52-week high of $36.26. The firm has a market capitalization of $960.73 million, a PE ratio of -5.18 and a beta of 1.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.86 and a current ratio of 8.86.
Insiders Place Their Bets
In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $11.58, for a total transaction of $144,750.00. Following the transaction, the director owned 715,270 shares of the company’s stock, valued at $8,282,826.60. The trade was a 1.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.56% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the company. Guggenheim dropped their price target on Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Wall Street Zen lowered shares of Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, July 25th. HC Wainwright decreased their price objective on Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Weiss Ratings cut Olema Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, August 31st. Finally, Citigroup dropped their target price on shares of Olema Pharmaceuticals to $59.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Olema Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $42.40.
Read Our Latest Report on Olema Pharmaceuticals
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.
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