Portland Investment Counsel Inc. Makes New $143,000 Investment in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Portland Investment Counsel Inc. bought a new stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,000 shares of the company’s stock, valued at approximately $143,000.

Several other hedge funds have also made changes to their positions in OLMA. Point72 Asset Management L.P. acquired a new position in Olema Pharmaceuticals in the 2nd quarter valued at about $34,753,000. Candriam S.C.A. grew its stake in shares of Olema Pharmaceuticals by 199.9% in the 2nd quarter. Candriam S.C.A. now owns 1,058,673 shares of the company’s stock valued at $11,454,000 after purchasing an additional 705,655 shares during the last quarter. Great Point Partners LLC lifted its holdings in shares of Olema Pharmaceuticals by 25.5% during the third quarter. Great Point Partners LLC now owns 1,000,000 shares of the company’s stock worth $11,940,000 after purchasing an additional 203,120 shares during the period. Victory Capital Management Inc. grew its position in Olema Pharmaceuticals by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 851,512 shares of the company’s stock valued at $10,167,000 after buying an additional 76,720 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in Olema Pharmaceuticals by 7.5% in the 2nd quarter. Marshall Wace LLP now owns 588,996 shares of the company’s stock valued at $6,373,000 after buying an additional 41,193 shares during the period. Institutional investors and hedge funds own 91.78% of the company’s stock.

Olema Pharmaceuticals Stock Performance

Shares of NASDAQ:OLMA opened at $10.12 on Friday. Olema Pharmaceuticals, Inc. has a 12-month low of $7.68 and a 12-month high of $16.77. The stock’s 50-day moving average price is $11.30 and its two-hundred day moving average price is $11.88. The firm has a market cap of $579.88 million, a price-to-earnings ratio of -4.62 and a beta of 2.02.

Analyst Ratings Changes

A number of research analysts have recently issued reports on OLMA shares. Oppenheimer reiterated an “outperform” rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price target on 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 restated a “buy” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a research note on Wednesday, November 13th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Olema Pharmaceuticals currently has an average rating of “Buy” and an average price target of $27.00.

About Olema Pharmaceuticals

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.