Pier Capital LLC Sells 246,823 Shares of Olema Pharmaceuticals, Inc. $OLMA

Pier Capital LLC reduced its stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 32.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 524,249 shares of the company’s stock after selling 246,823 shares during the quarter. Pier Capital LLC’s holdings in Olema Pharmaceuticals were worth $5,132,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of OLMA. Ameriprise Financial Inc. lifted its stake in Olema Pharmaceuticals by 193.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,172,863 shares of the company’s stock valued at $4,996,000 after acquiring an additional 773,064 shares in the last quarter. Candriam S.C.A. grew its stake in shares of Olema Pharmaceuticals by 46.9% in the 3rd quarter. Candriam S.C.A. now owns 1,249,727 shares of the company’s stock worth $12,235,000 after acquiring an additional 399,273 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Olema Pharmaceuticals by 93.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 741,329 shares of the company’s stock worth $2,787,000 after acquiring an additional 358,412 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Olema Pharmaceuticals by 4,450.0% in the third quarter. BNP Paribas Financial Markets now owns 299,619 shares of the company’s stock valued at $2,933,000 after purchasing an additional 293,034 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Olema Pharmaceuticals by 22.4% during the second quarter. Geode Capital Management LLC now owns 1,326,123 shares of the company’s stock valued at $5,650,000 after purchasing an additional 242,997 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Olema Pharmaceuticals

In other news, insider Shane William Charles Kovacs sold 100,000 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $28.73, for a total transaction of $2,873,000.00. Following the completion of the transaction, the insider directly owned 139,727 shares of the company’s stock, valued at $4,014,356.71. This represents a 41.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawnte Mitchell sold 25,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $24.25, for a total transaction of $606,250.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 805,501 shares of company stock valued at $23,003,832 in the last three months. 16.36% of the stock is owned by corporate insiders.

Olema Pharmaceuticals Price Performance

Shares of NASDAQ:OLMA opened at $14.91 on Friday. The company’s 50-day moving average is $24.39 and its 200 day moving average is $18.34. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.03 and a current ratio of 8.03. The company has a market capitalization of $1.02 billion, a P/E ratio of -7.97 and a beta of 1.92. Olema Pharmaceuticals, Inc. has a fifty-two week low of $2.86 and a fifty-two week high of $36.26.

Analysts Set New Price Targets

Several research analysts recently weighed in on OLMA shares. The Goldman Sachs Group boosted their price target on shares of Olema Pharmaceuticals from $26.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Oppenheimer reiterated an “outperform” rating on shares of Olema Pharmaceuticals in a research note on Monday. TD Cowen reissued a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday. Stifel Nicolaus started coverage on Olema Pharmaceuticals in a research note on Wednesday, February 11th. They issued a “buy” rating and a $48.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Thursday, January 22nd. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Olema Pharmaceuticals 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.