Portland Investment Counsel Inc. Invests $626,000 in Olema Pharmaceuticals, Inc. $OLMA

Portland Investment Counsel Inc. bought a new stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 50,000 shares of the company’s stock, valued at approximately $626,000. Portland Investment Counsel Inc. owned 0.06% of Olema Pharmaceuticals as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Olema Pharmaceuticals in the second quarter worth $84,001,000. Siren L.L.C. purchased a new position in Olema Pharmaceuticals during the fourth quarter valued at $82,518,000. Janus Henderson Group PLC lifted its position in Olema Pharmaceuticals by 87.1% during the fourth quarter. Janus Henderson Group PLC now owns 6,710,194 shares of the company’s stock valued at $167,901,000 after buying an additional 3,124,345 shares during the period. Cormorant Asset Management LP bought a new stake in shares of Olema Pharmaceuticals during the 4th quarter valued at $68,750,000. Finally, RA Capital Management L.P. bought a new stake in shares of Olema Pharmaceuticals during the 4th quarter valued at $65,000,000. 91.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, Director Cyrus Harmon sold 12,500 shares of the firm’s 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 sale, the director directly owned 715,270 shares in the company, valued at approximately $8,282,826.60. This trade represents a 1.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.56% of the company’s stock.

Olema Pharmaceuticals Stock Performance

NASDAQ OLMA opened at $10.69 on Monday. Olema Pharmaceuticals, Inc. has a 12 month low of $5.36 and a 12 month high of $36.26. The stock has a market cap of $935.38 million, a P/E ratio of -5.04 and a beta of 2.03. The stock’s fifty day moving average price is $11.33 and its 200-day moving average price is $14.82. The company has a current ratio of 8.86, a quick ratio of 8.86 and a debt-to-equity ratio of 0.01.

Olema Pharmaceuticals (NASDAQ:OLMA) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.06). As a group, equities analysts forecast that Olema Pharmaceuticals, Inc. will post -2.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. HC Wainwright decreased their price target on shares of Olema Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Citigroup dropped their price objective on shares of Olema Pharmaceuticals to $59.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. JPMorgan Chase & Co. cut their price objective on shares of Olema Pharmaceuticals from $52.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Wall Street Zen downgraded shares of Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. Finally, Guggenheim decreased their target price on shares of Olema Pharmaceuticals from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Olema Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $42.40.

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.