Pier Capital LLC Invests $1.59 Million in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Pier Capital LLC purchased a new stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 272,372 shares of the company’s stock, valued at approximately $1,588,000. Pier Capital LLC owned 0.48% of Olema Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OLMA. KLP Kapitalforvaltning AS acquired a new stake in shares of Olema Pharmaceuticals during the fourth quarter worth $30,000. Teacher Retirement System of Texas bought a new position in Olema Pharmaceuticals during the fourth quarter worth about $60,000. Vontobel Holding Ltd. acquired a new stake in Olema Pharmaceuticals in the 4th quarter worth about $62,000. Fox Run Management L.L.C. acquired a new stake in Olema Pharmaceuticals in the 4th quarter worth about $80,000. Finally, SG Americas Securities LLC boosted its holdings in Olema Pharmaceuticals by 33.8% in the 4th quarter. SG Americas Securities LLC now owns 17,475 shares of the company’s stock valued at $102,000 after purchasing an additional 4,419 shares during the period. 91.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on OLMA shares. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday, March 19th. Oppenheimer reissued an “outperform” rating and set a $25.00 price target (down previously from $30.00) on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th.

Insider Activity

In related news, major shareholder Bain Capital Life Sciences Inv bought 300,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was purchased at an average price of $5.76 per share, with a total value of $1,728,000.00. Following the completion of the acquisition, the insider now owns 7,800,000 shares of the company’s stock, valued at $44,928,000. The trade was a 4.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 19.40% of the company’s stock.

Olema Pharmaceuticals Stock Up 2.1 %

OLMA stock opened at $4.32 on Tuesday. The company’s 50-day moving average price is $5.08 and its two-hundred day moving average price is $8.25. The firm has a market cap of $247.53 million, a P/E ratio of -1.97 and a beta of 2.11. Olema Pharmaceuticals, Inc. has a 12 month low of $3.94 and a 12 month high of $16.62.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Tuesday, March 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.12. Equities analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

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.