Swedbank AB Buys New Position in Olema Pharmaceuticals, Inc. $OLMA

Swedbank AB acquired a new position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 55,100 shares of the company’s stock, valued at approximately $1,378,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Strs Ohio bought a new position in Olema Pharmaceuticals in the fourth quarter worth $262,000. Oppenheimer & Co. Inc. bought a new position in Olema Pharmaceuticals in the fourth quarter worth $238,000. Jennison Associates LLC bought a new position in Olema Pharmaceuticals in the fourth quarter worth $24,100,000. Torren Management LLC bought a new position in Olema Pharmaceuticals in the fourth quarter worth $44,000. Finally, Inscription Capital LLC bought a new position in Olema Pharmaceuticals in the fourth quarter worth $382,000. Institutional investors own 91.78% of the company’s stock.

Wall Street Analyst Weigh In

OLMA has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Olema Pharmaceuticals in a report on Tuesday, April 21st. The Goldman Sachs Group cut their price objective on shares of Olema Pharmaceuticals from $38.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, March 18th. Oppenheimer restated an “outperform” rating on shares of Olema Pharmaceuticals in a report on Monday, March 9th. Guggenheim cut their price objective on shares of Olema Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, March 17th. Finally, Citigroup upped their price objective on shares of Olema Pharmaceuticals from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, March 17th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Olema Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $44.40.

Insider Transactions at Olema Pharmaceuticals

In related news, insider Shawnte Mitchell sold 25,000 shares of Olema Pharmaceuticals stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $24.25, for a total transaction of $606,250.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 12.56% of the company’s stock.

Olema Pharmaceuticals Price Performance

NASDAQ OLMA opened at $14.90 on Monday. The stock’s 50-day moving average price is $16.58 and its 200-day moving average price is $20.27. The company has a market capitalization of $1.30 billion, a P/E ratio of -8.01 and a beta of 2.05. Olema Pharmaceuticals, Inc. has a 52 week low of $3.89 and a 52 week high of $36.26. The company has a quick ratio of 9.95, a current ratio of 9.95 and a debt-to-equity ratio of 0.01.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its earnings results on Monday, March 16th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.01. On average, equities research analysts predict that Olema Pharmaceuticals, Inc. will post -2.17 earnings per share for the current year.

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.