Wellington Management Group LLP Cuts Holdings in Olema Pharmaceuticals, Inc. $OLMA

Wellington Management Group LLP lowered its position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 20.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 526,446 shares of the company’s stock after selling 138,233 shares during the quarter. Wellington Management Group LLP owned 0.60% of Olema Pharmaceuticals worth $6,586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in OLMA. EverSource Wealth Advisors LLC lifted its position in Olema Pharmaceuticals by 9,476.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,245 shares of the company’s stock valued at $31,000 after buying an additional 1,232 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Olema Pharmaceuticals during the third quarter worth approximately $53,000. American Century Companies Inc. acquired a new stake in shares of Olema Pharmaceuticals in the second quarter worth $54,000. Quantbot Technologies LP acquired a new stake in shares of Olema Pharmaceuticals in the second quarter worth $77,000. Finally, Creative Planning purchased a new position in shares of Olema Pharmaceuticals in the 2nd quarter valued at $83,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Wall Street Analysts Forecast Growth

OLMA has been the topic of several research reports. Citigroup cut their price objective on Olema Pharmaceuticals to $59.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Guggenheim lowered their target price on Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. HC Wainwright reduced their price target on Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. JPMorgan Chase & Co. dropped their price objective on shares of Olema Pharmaceuticals from $52.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Finally, Weiss Ratings downgraded shares of Olema Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, August 31st. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.40.

Olema Pharmaceuticals Price Performance

OLMA opened at $10.98 on Wednesday. The company has a 50-day moving average of $11.37 and a 200-day moving average of $13.69. The company has a market capitalization of $960.73 million, a P/E ratio of -5.18 and a beta of 1.98. Olema Pharmaceuticals, Inc. has a 1-year low of $6.65 and a 1-year high of $36.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.86 and a current ratio of 8.86.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.06). Equities analysts expect that Olema Pharmaceuticals, Inc. will post -2.43 EPS for the current fiscal year.

Insider Activity at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 12,500 shares of the stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $11.58, for a total value of $144,750.00. Following the sale, the director owned 715,270 shares of the company’s stock, valued at $8,282,826.60. This trade represents a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.56% of the company’s stock.

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.