HighTower Advisors LLC Invests $510,000 in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

HighTower Advisors LLC acquired a new position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 87,476 shares of the company's stock, valued at approximately $510,000. HighTower Advisors LLC owned approximately 0.15% of Olema Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of OLMA. Conway Capital Management Inc. acquired a new stake in shares of Olema Pharmaceuticals during the 3rd quarter valued at approximately $119,000. Vontobel Holding Ltd. bought a new stake in Olema Pharmaceuticals during the fourth quarter valued at $62,000. Intech Investment Management LLC acquired a new stake in shares of Olema Pharmaceuticals during the third quarter worth $163,000. SG Americas Securities LLC lifted its position in shares of Olema Pharmaceuticals by 33.8% in the 4th quarter. SG Americas Securities LLC now owns 17,475 shares of the company's stock worth $102,000 after buying an additional 4,419 shares during the last quarter. Finally, AlphaQuest LLC boosted its holdings in shares of Olema Pharmaceuticals by 867.6% in the 4th quarter. AlphaQuest LLC now owns 18,414 shares of the company's stock valued at $107,000 after buying an additional 16,511 shares during the period. Institutional investors own 91.78% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Bain Capital Life Sciences Inv bought 300,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were purchased at an average price of $5.76 per share, with a total value of $1,728,000.00. Following the purchase, the insider now owns 7,800,000 shares in the company, valued at approximately $44,928,000. This represents a 4.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.40% of the stock is currently owned by insiders.

Olema Pharmaceuticals Trading Up 0.6 %

Olema Pharmaceuticals stock traded up $0.02 during midday trading on Thursday, reaching $3.35. 1,400,263 shares of the stock traded hands, compared to its average volume of 841,919. Olema Pharmaceuticals, Inc. has a fifty-two week low of $3.15 and a fifty-two week high of $16.62. The firm has a market cap of $228.92 million, a price-to-earnings ratio of -1.53 and a beta of 2.11. The firm has a fifty day moving average price of $4.81 and a two-hundred day moving average price of $7.84.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released 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. Analysts anticipate that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.

Wall Street Analyst Weigh In

OLMA has been the topic of several research reports. Oppenheimer reiterated an "outperform" rating and set a $25.00 price objective (down previously from $30.00) on shares of Olema Pharmaceuticals in a research note on Wednesday, March 19th. HC Wainwright reiterated a "buy" rating and set a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. lowered their price objective on Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday, March 28th.

About Olema Pharmaceuticals

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.