Pictet Asset Management Holding SA Boosts Stock Position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Pictet Asset Management Holding SA raised its position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 12.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,883,354 shares of the company’s stock after buying an additional 215,895 shares during the quarter. Pictet Asset Management Holding SA owned about 3.29% of Olema Pharmaceuticals worth $10,980,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of OLMA. JPMorgan Chase & Co. lifted its position in Olema Pharmaceuticals by 658.7% during the third quarter. JPMorgan Chase & Co. now owns 181,032 shares of the company’s stock valued at $2,162,000 after acquiring an additional 157,171 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Olema Pharmaceuticals by 80.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 212,246 shares of the company’s stock worth $1,237,000 after purchasing an additional 94,651 shares in the last quarter. HighTower Advisors LLC purchased a new position in Olema Pharmaceuticals during the 4th quarter worth $510,000. Charles Schwab Investment Management Inc. increased its position in Olema Pharmaceuticals by 168.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 330,761 shares of the company’s stock valued at $3,949,000 after buying an additional 207,565 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Olema Pharmaceuticals by 10.8% in the third quarter. Wellington Management Group LLP now owns 1,002,685 shares of the company’s stock valued at $11,972,000 after buying an additional 97,428 shares during the last quarter. 91.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Olema Pharmaceuticals

In other news, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were acquired at an average price of $5.76 per share, with a total value of $1,728,000.00. Following the purchase, the insider now directly owns 7,800,000 shares of the company’s stock, valued at $44,928,000. This trade represents a 4.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 19.40% of the company’s stock.

Analyst Upgrades and Downgrades

OLMA has been the topic of several recent analyst reports. Oppenheimer restated an “outperform” rating and set a $25.00 price objective (down previously from $30.00) on shares of Olema Pharmaceuticals in a report on Wednesday, March 19th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Olema Pharmaceuticals from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, March 28th.

Olema Pharmaceuticals Stock Down 0.3 %

Shares of NASDAQ OLMA opened at $3.33 on Thursday. Olema Pharmaceuticals, Inc. has a 52 week low of $3.28 and a 52 week high of $16.62. The business’s 50 day moving average price is $4.86 and its 200 day moving average price is $7.87. The firm has a market cap of $227.55 million, a P/E ratio of -1.52 and a beta of 2.11.

Olema Pharmaceuticals (NASDAQ:OLMA) last released its quarterly earnings data on Tuesday, March 18th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.12. As a group, research analysts expect that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share 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.