Y Intercept Hong Kong Ltd increased its position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA – Free Report) by 143.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,375 shares of the company’s stock after buying an additional 53,176 shares during the period. Y Intercept Hong Kong Ltd owned about 0.10% of Olema Pharmaceuticals worth $1,347,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Siren L.L.C. bought a new position in Olema Pharmaceuticals during the 4th quarter worth about $82,518,000. Janus Henderson Group PLC raised its holdings in shares of Olema Pharmaceuticals by 87.1% in the 4th quarter. Janus Henderson Group PLC now owns 6,710,194 shares of the company’s stock valued at $167,901,000 after purchasing an additional 3,124,345 shares in the last quarter. Cormorant Asset Management LP purchased a new stake in shares of Olema Pharmaceuticals in the 4th quarter worth approximately $68,750,000. RA Capital Management L.P. purchased a new stake in shares of Olema Pharmaceuticals in the 4th quarter worth approximately $65,000,000. Finally, Bain Capital Life Sciences Investors LLC boosted its stake in shares of Olema Pharmaceuticals by 24.3% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,508,641 shares of the company’s stock valued at $212,716,000 after purchasing an additional 1,664,687 shares in the last quarter. 91.78% of the stock is owned by hedge funds and other institutional investors.
Olema Pharmaceuticals Stock Down 3.0%
Shares of Olema Pharmaceuticals stock traded down $0.37 on Friday, reaching $11.91. The stock had a trading volume of 927,028 shares, compared to its average volume of 1,877,591. 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 stock has a market capitalization of $1.04 billion, a P/E ratio of -5.90 and a beta of 2.00. The company has a 50 day moving average price of $12.17 and a 200 day moving average price of $18.07. Olema Pharmaceuticals, Inc. has a 1 year low of $4.37 and a 1 year high of $36.26.
Analyst Ratings Changes
Several brokerages recently issued reports on OLMA. Guggenheim cut their price objective on shares of Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Wall Street Zen raised Olema Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Monday, April 27th. HC Wainwright reiterated a “buy” rating on shares of Olema Pharmaceuticals in a report on Friday, May 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Tuesday, April 21st. Finally, Jefferies Financial Group began coverage on Olema Pharmaceuticals in a research report on Thursday, March 19th. They issued a “buy” rating and a $40.00 price target for the company. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $44.10.
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.
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