Jennison Associates LLC Purchases 858,126 Shares of Olema Pharmaceuticals, Inc. $OLMA

Jennison Associates LLC raised its position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 89.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,822,123 shares of the company’s stock after buying an additional 858,126 shares during the period. Jennison Associates LLC’s holdings in Olema Pharmaceuticals were worth $27,168,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in shares of Olema Pharmaceuticals by 14.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,764 shares of the company’s stock worth $94,000 after buying an additional 477 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Olema Pharmaceuticals by 8.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,018 shares of the company’s stock valued at $325,000 after acquiring an additional 987 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Olema Pharmaceuticals by 44.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,822 shares of the company’s stock valued at $96,000 after acquiring an additional 1,169 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 worth $31,000 after acquiring an additional 1,232 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in Olema Pharmaceuticals by 13.8% during the fourth quarter. ProShare Advisors LLC now owns 14,367 shares of the company’s stock worth $359,000 after acquiring an additional 1,740 shares during the period. Institutional investors own 91.78% of the company’s stock.

Olema Pharmaceuticals Stock Down 1.0%

OLMA stock opened at $11.35 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.88 and a current ratio of 10.88. The company has a market capitalization of $991.42 million, a price-to-earnings ratio of -5.62 and a beta of 2.00. Olema Pharmaceuticals, Inc. has a fifty-two week low of $4.40 and a fifty-two week high of $36.26. The stock has a fifty day moving average of $11.78 and a 200-day moving average of $17.37.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.52). As a group, equities research analysts predict that Olema Pharmaceuticals, Inc. will post -2.22 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. HC Wainwright reissued a “buy” rating on shares of Olema Pharmaceuticals in a research report on Friday, May 22nd. Wolfe Research started coverage on Olema Pharmaceuticals in a research note on Friday, March 27th. They set a “peer perform” rating on the stock. Wall Street Zen raised shares of Olema Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Tuesday, April 21st. Finally, Guggenheim lowered their price objective on shares of Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.10.

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.