92,000 Shares in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Purchased by Ikarian Capital LLC

Ikarian Capital LLC bought a new stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) in the third quarter, Holdings Channel reports. The fund bought 92,000 shares of the company’s stock, valued at approximately $1,098,000.

Other hedge funds have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. grew its holdings in Olema Pharmaceuticals by 67.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company’s stock valued at $132,000 after buying an additional 4,442 shares in the last quarter. Portland Investment Counsel Inc. purchased a new position in Olema Pharmaceuticals during the 3rd quarter valued at about $143,000. SG Americas Securities LLC purchased a new position in Olema Pharmaceuticals during the 3rd quarter valued at about $156,000. Cubist Systematic Strategies LLC purchased a new position in Olema Pharmaceuticals during the 2nd quarter valued at about $145,000. Finally, Intech Investment Management LLC purchased a new position in Olema Pharmaceuticals during the 3rd quarter valued at about $163,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OLMA. JPMorgan Chase & Co. reduced their target price on Olema Pharmaceuticals from $33.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday, November 13th. Finally, Oppenheimer reissued an “outperform” rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Olema Pharmaceuticals has an average rating of “Buy” and a consensus target price of $27.00.

Olema Pharmaceuticals Stock Performance

NASDAQ:OLMA traded up $0.09 during mid-day trading on Tuesday, reaching $10.21. The stock had a trading volume of 1,025,371 shares, compared to its average volume of 564,210. The firm has a 50 day moving average price of $11.30 and a two-hundred day moving average price of $11.90. The stock has a market capitalization of $585.03 million, a P/E ratio of -4.66 and a beta of 1.93. Olema Pharmaceuticals, Inc. has a one year low of $7.68 and a one year high of $16.77.

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.