Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 26.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 774,792 shares of the company’s stock after acquiring an additional 164,143 shares during the period. Victory Capital Management Inc. owned about 1.39% of Olema Pharmaceuticals worth $8,383,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Light Asset Management LLC purchased a new position in shares of Olema Pharmaceuticals during the fourth quarter valued at approximately $8,854,000. Perceptive Advisors LLC purchased a new position in shares of Olema Pharmaceuticals during the 4th quarter worth $7,574,000. Janus Henderson Group PLC boosted its holdings in shares of Olema Pharmaceuticals by 74.5% during the first quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company’s stock worth $13,817,000 after purchasing an additional 521,562 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Olema Pharmaceuticals in the second quarter valued at $945,000. Finally, Swiss National Bank purchased a new stake in shares of Olema Pharmaceuticals in the fourth quarter valued at $906,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Oppenheimer reissued an “outperform” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lowered their target price on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $27.00.

Olema Pharmaceuticals Stock Performance

NASDAQ OLMA opened at $12.70 on Monday. Olema Pharmaceuticals, Inc. has a one year low of $8.51 and a one year high of $17.79. The company’s 50 day moving average price is $12.96 and its 200 day moving average price is $11.81. The firm has a market capitalization of $710.36 million, a price-to-earnings ratio of -6.29 and a beta of 2.03.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its earnings results on Tuesday, August 6th. The company reported ($0.54) earnings per share for the quarter, meeting the consensus estimate of ($0.54). Sell-side analysts forecast that Olema Pharmaceuticals, Inc. will post -1.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Cyrus Harmon sold 5,000 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $12.26, for a total value of $61,300.00. Following the completion of the sale, the director now owns 756,283 shares in the company, valued at $9,272,029.58. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $14.91, for a total value of $35,784,000.00. Following the completion of the transaction, the insider now owns 783,118 shares of the company’s stock, valued at $11,676,289.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cyrus Harmon sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $12.26, for a total value of $61,300.00. Following the completion of the transaction, the director now directly owns 756,283 shares in the company, valued at $9,272,029.58. The disclosure for this sale can be found here. Insiders have sold a total of 2,429,066 shares of company stock worth $36,124,048 over the last quarter. 19.40% of the stock is owned by corporate insiders.

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.