JPMorgan Chase & Co. Increases Position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

JPMorgan Chase & Co. boosted its holdings in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 658.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 181,032 shares of the company’s stock after purchasing an additional 157,171 shares during the quarter. JPMorgan Chase & Co.’s holdings in Olema Pharmaceuticals were worth $2,162,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Barclays PLC grew its holdings in Olema Pharmaceuticals by 105.0% in the third quarter. Barclays PLC now owns 94,915 shares of the company’s stock worth $1,133,000 after purchasing an additional 48,614 shares during the period. Conway Capital Management Inc. purchased a new stake in Olema Pharmaceuticals in the third quarter worth about $119,000. XTX Topco Ltd lifted its stake in shares of Olema Pharmaceuticals by 103.4% in the third quarter. XTX Topco Ltd now owns 25,332 shares of the company’s stock worth $302,000 after buying an additional 12,878 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Olema Pharmaceuticals by 5.2% in the third quarter. EP Wealth Advisors LLC now owns 48,655 shares of the company’s stock worth $581,000 after buying an additional 2,407 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Olema Pharmaceuticals by 10.8% in the third quarter. Wellington Management Group LLP now owns 1,002,685 shares of the company’s stock worth $11,972,000 after buying an additional 97,428 shares in the last quarter. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Stock Performance

Shares of NASDAQ OLMA opened at $5.50 on Wednesday. The firm’s 50 day moving average price is $7.51 and its 200-day moving average price is $10.78. The company has a market cap of $315.15 million, a PE ratio of -2.51 and a beta of 2.05. Olema Pharmaceuticals, Inc. has a 52-week low of $4.60 and a 52-week high of $16.77.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, December 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Olema Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $27.00.

Insider Activity at Olema Pharmaceuticals

In other Olema Pharmaceuticals news, major shareholder Bain Capital Life Sciences Inv purchased 300,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were acquired at an average cost of $5.76 per share, for a total transaction of $1,728,000.00. Following the completion of the transaction, the insider now owns 7,800,000 shares of the company’s stock, valued at approximately $44,928,000. The trade was a 4.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sean Bohen sold 52,328 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $9.37, for a total transaction of $490,313.36. Following the completion of the transaction, the chief executive officer now owns 298,836 shares in the company, valued at $2,800,093.32. The trade was a 14.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 773,797 shares of company stock worth $5,414,609 over the last quarter. Company insiders own 19.40% of the company’s stock.

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.