Great Point Partners LLC Buys 203,120 Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Great Point Partners LLC increased its stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 25.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,000,000 shares of the company's stock after purchasing an additional 203,120 shares during the quarter. Olema Pharmaceuticals makes up 3.5% of Great Point Partners LLC's investment portfolio, making the stock its 13th largest holding. Great Point Partners LLC owned approximately 1.75% of Olema Pharmaceuticals worth $11,940,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Ensign Peak Advisors Inc lifted its stake in shares of Olema Pharmaceuticals by 6.1% in the second quarter. Ensign Peak Advisors Inc now owns 14,849 shares of the company's stock worth $161,000 after buying an additional 850 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Olema Pharmaceuticals by 3.4% in the first quarter. California State Teachers Retirement System now owns 34,695 shares of the company's stock valued at $393,000 after purchasing an additional 1,132 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Olema Pharmaceuticals by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,251 shares of the company's stock worth $298,000 after purchasing an additional 1,486 shares during the period. ClariVest Asset Management LLC lifted its position in shares of Olema Pharmaceuticals by 3.1% during the 2nd quarter. ClariVest Asset Management LLC now owns 63,149 shares of the company's stock worth $683,000 after purchasing an additional 1,881 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Olema Pharmaceuticals by 67.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company's stock worth $132,000 after purchasing an additional 4,442 shares during the last quarter. Institutional investors own 91.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. lowered their target price on Olema Pharmaceuticals from $33.00 to $31.00 and set an "overweight" rating on the stock in a report on Thursday, August 8th. HC Wainwright restated a "buy" rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a research note on Wednesday, November 13th. Finally, Oppenheimer reiterated an "outperform" rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $27.00.

Olema Pharmaceuticals Stock Performance

Shares of NASDAQ OLMA opened at $9.72 on Wednesday. Olema Pharmaceuticals, Inc. has a one year low of $7.68 and a one year high of $16.77. The business has a fifty day simple moving average of $11.49 and a 200 day simple moving average of $11.90.

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.

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