The Manufacturers Life Insurance Company Buys New Stake in Olema Pharmaceuticals, Inc. $OLMA

The Manufacturers Life Insurance Company purchased a new stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) during the second quarter, HoldingsChannel.com reports. The fund purchased 89,990 shares of the company’s stock, valued at approximately $1,126,000.

Several other hedge funds have also bought and sold shares of OLMA. Bain Capital Life Sciences Investors LLC grew its position in shares of Olema Pharmaceuticals by 24.3% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 8,508,641 shares of the company’s stock valued at $212,716,000 after purchasing an additional 1,664,687 shares in the last quarter. Paradigm Biocapital Advisors LP lifted its position in shares of Olema Pharmaceuticals by 11.0% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 7,544,172 shares of the company’s stock worth $188,604,000 after buying an additional 750,000 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Olema Pharmaceuticals by 5.9% during the first quarter. Janus Henderson Group PLC now owns 7,108,488 shares of the company’s stock valued at $106,013,000 after buying an additional 398,294 shares during the last quarter. BlackRock Inc. bought a new position in Olema Pharmaceuticals during the second quarter valued at approximately $84,001,000. Finally, Siren L.L.C. boosted its stake in Olema Pharmaceuticals by 44.1% during the first quarter. Siren L.L.C. now owns 4,756,949 shares of the company’s stock valued at $70,926,000 after buying an additional 1,456,249 shares during the last quarter. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Stock Performance

NASDAQ OLMA opened at $10.75 on Friday. The business’s 50 day moving average price is $11.42 and its 200-day moving average price is $13.92. Olema Pharmaceuticals, Inc. has a fifty-two week low of $6.35 and a fifty-two week high of $36.26. The company has a market cap of $940.62 million, a P/E ratio of -5.07 and a beta of 1.98. 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 data on Monday, August 10th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.06). Sell-side analysts predict that Olema Pharmaceuticals, Inc. will post -2.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

OLMA has been the topic of a number of research reports. Citigroup reduced their price objective on Olema Pharmaceuticals to $59.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Wall Street Zen downgraded Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, July 25th. Guggenheim cut their target price on shares of Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Weiss Ratings cut shares of Olema Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. Finally, HC Wainwright decreased their price target on shares of Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Olema Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $42.40.

Insider Activity

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