Olema Pharmaceuticals, Inc. $OLMA Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC reduced its stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 28.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 615,470 shares of the company’s stock after selling 243,082 shares during the period. Squarepoint Ops LLC’s holdings in Olema Pharmaceuticals were worth $7,700,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Siren L.L.C. raised its stake in shares of Olema Pharmaceuticals by 44.1% in the 1st quarter. Siren L.L.C. now owns 4,756,949 shares of the company’s stock valued at $70,926,000 after acquiring an additional 1,456,249 shares during the period. Readystate Asset Management LP purchased a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth approximately $7,429,000. Jennison Associates LLC increased its holdings in Olema Pharmaceuticals by 89.0% in the 1st quarter. Jennison Associates LLC now owns 1,822,123 shares of the company’s stock valued at $27,168,000 after purchasing an additional 858,126 shares during the last quarter. Defilade Capital Management L.P. increased its holdings in Olema Pharmaceuticals by 21.9% in the 1st quarter. Defilade Capital Management L.P. now owns 1,504,536 shares of the company’s stock valued at $22,433,000 after purchasing an additional 269,902 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Olema Pharmaceuticals by 12.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,082,434 shares of the company’s stock valued at $16,134,000 after purchasing an additional 123,790 shares during the last quarter. Institutional investors and hedge funds own 91.78% of the company’s stock.

Wall Street Analyst Weigh In

OLMA has been the topic of a number of research reports. HC Wainwright decreased their price target on Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. JPMorgan Chase & Co. dropped their price objective on Olema Pharmaceuticals from $52.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Citigroup cut their price objective on Olema Pharmaceuticals to $59.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Wall Street Zen lowered Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings lowered Olema Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, August 31st. Eleven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.40.

Olema Pharmaceuticals Stock Up 3.2%

OLMA stock opened at $10.69 on Friday. The company’s 50 day moving average price is $11.29 and its 200 day moving average price is $13.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.86 and a current ratio of 8.86. Olema Pharmaceuticals, Inc. has a fifty-two week low of $6.65 and a fifty-two week high of $36.26. The firm has a market capitalization of $935.38 million, a price-to-earnings ratio of -5.04 and a beta of 1.98.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.06). On average, equities research analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.43 EPS for the current fiscal year.

Insider Activity at Olema Pharmaceuticals

In other news, Director Cyrus Harmon sold 12,500 shares of the firm’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $11.58, for a total value of $144,750.00. Following the sale, the director directly owned 715,270 shares in the company, valued at approximately $8,282,826.60. This trade represents a 1.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 12.56% of the company’s stock.

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.