Olema Pharmaceuticals, Inc. $OLMA Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC lowered its stake in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 28.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 615,470 shares of the company’s stock after selling 243,082 shares during the period. Squarepoint Ops LLC owned about 0.70% of Olema Pharmaceuticals worth $7,700,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of OLMA. Arizona State Retirement System lifted its stake in Olema Pharmaceuticals by 39.2% in the 2nd quarter. Arizona State Retirement System now owns 14,430 shares of the company’s stock valued at $181,000 after buying an additional 4,062 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Olema Pharmaceuticals during the 2nd quarter worth approximately $220,000. California State Teachers Retirement System raised its holdings in shares of Olema Pharmaceuticals by 1,773.9% during the second quarter. California State Teachers Retirement System now owns 732,285 shares of the company’s stock valued at $9,161,000 after acquiring an additional 693,206 shares during the last quarter. Readystate Asset Management LP acquired a new position in shares of Olema Pharmaceuticals during the second quarter valued at approximately $7,429,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Olema Pharmaceuticals in the second quarter valued at approximately $690,000. Institutional investors and hedge funds own 91.78% of the company’s stock.

Olema Pharmaceuticals Price Performance

Olema Pharmaceuticals stock opened at $10.69 on Friday. Olema Pharmaceuticals, Inc. has a 12-month low of $6.65 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 1.98. The company has a 50-day moving average price of $11.29 and a 200 day moving average price of $13.50. 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 posted its 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). Sell-side analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Olema Pharmaceuticals from $52.00 to $46.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. HC Wainwright reduced their price objective on 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 decreased their price objective on Olema Pharmaceuticals to $59.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Wall Street Zen cut shares of Olema Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings lowered shares of Olema Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 31st. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.40.

Insider Activity at Olema Pharmaceuticals

In related news, Director Cyrus Harmon sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $11.58, for a total value of $144,750.00. Following the transaction, the director directly owned 715,270 shares in the company, valued at approximately $8,282,826.60. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.