Charles Schwab Investment Management Inc. Increases Stock Position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Charles Schwab Investment Management Inc. grew its holdings in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 168.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 330,761 shares of the company's stock after purchasing an additional 207,565 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.58% of Olema Pharmaceuticals worth $3,949,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Victory Capital Management Inc. raised its stake in shares of Olema Pharmaceuticals by 9.9% during the 3rd quarter. Victory Capital Management Inc. now owns 851,512 shares of the company's stock worth $10,167,000 after acquiring an additional 76,720 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth approximately $945,000. Point72 Asset Management L.P. bought a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth approximately $34,753,000. Dana Investment Advisors Inc. bought a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth approximately $808,000. Finally, Renaissance Technologies LLC bought a new position in shares of Olema Pharmaceuticals during the 2nd quarter worth approximately $576,000. Institutional investors own 91.78% of the company's stock.

Insider Activity

In related news, Director Cyrus Harmon sold 8,256 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $9.37, for a total transaction of $77,358.72. Following the sale, the director now directly owns 772,277 shares of the company's stock, valued at approximately $7,236,235.49. This represents a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sean Bohen sold 52,328 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $9.37, for a total transaction of $490,313.36. Following the sale, the chief executive officer now directly owns 298,836 shares in the company, valued at $2,800,093.32. This trade represents a 14.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,036 shares of company stock valued at $684,472 in the last ninety days. Insiders own 19.40% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a "buy" rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research note on Wednesday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Olema Pharmaceuticals currently has an average rating of "Buy" and a consensus target price of $27.00.

Olema Pharmaceuticals Price Performance

Olema Pharmaceuticals stock traded up $0.03 during mid-day trading on Friday, reaching $6.75. 2,675,621 shares of the company traded hands, compared to its average volume of 757,673. The firm's fifty day moving average is $10.70 and its two-hundred day moving average is $11.89. The company has a market capitalization of $386.76 million, a price-to-earnings ratio of -3.08 and a beta of 1.92. Olema Pharmaceuticals, Inc. has a fifty-two week low of $6.24 and a fifty-two week high of $16.77.

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.