Alliancebernstein L.P. Increases Position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Alliancebernstein L.P. lifted its position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 77.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 313,982 shares of the company's stock after acquiring an additional 137,319 shares during the quarter. Alliancebernstein L.P. owned 0.55% of Olema Pharmaceuticals worth $1,831,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Olema Pharmaceuticals by 1.1% during the 3rd quarter. State Street Corp now owns 1,969,963 shares of the company's stock valued at $23,521,000 after acquiring an additional 21,986 shares during the period. Barclays PLC boosted its position in shares of Olema Pharmaceuticals by 105.0% in the 3rd quarter. Barclays PLC now owns 94,915 shares of the company's stock worth $1,133,000 after buying an additional 48,614 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Olema Pharmaceuticals by 658.7% in the 3rd 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. increased its holdings in Olema Pharmaceuticals by 80.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 212,246 shares of the company's stock valued at $1,237,000 after acquiring an additional 94,651 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Olema Pharmaceuticals by 33.8% during the fourth quarter. SG Americas Securities LLC now owns 17,475 shares of the company's stock worth $102,000 after acquiring an additional 4,419 shares during the last quarter. Institutional investors and hedge funds own 91.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OLMA. HC Wainwright restated a "buy" rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th. Oppenheimer reaffirmed an "outperform" rating and set a $25.00 price target (down from $30.00) on shares of Olema Pharmaceuticals in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th.

Olema Pharmaceuticals Stock Performance

Shares of OLMA traded up $0.16 during trading hours on Tuesday, hitting $4.91. The stock had a trading volume of 317,286 shares, compared to its average volume of 857,760. The company's fifty day simple moving average is $4.19 and its 200 day simple moving average is $6.95. The firm has a market cap of $335.17 million, a P/E ratio of -2.24 and a beta of 2.10. Olema Pharmaceuticals, Inc. has a 12-month low of $2.86 and a 12-month high of $16.62.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last announced its quarterly earnings results on Tuesday, March 18th. The company reported ($0.51) earnings per share for the quarter, beating analysts' consensus estimates of ($0.63) by $0.12. As a group, sell-side analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current fiscal 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.