JPMorgan Chase & Co. Purchases 157,171 Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

JPMorgan Chase & Co. raised its holdings in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 658.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 181,032 shares of the company's stock after acquiring an additional 157,171 shares during the period. JPMorgan Chase & Co. owned approximately 0.32% of Olema Pharmaceuticals worth $2,162,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of OLMA. Point72 Asset Management L.P. purchased a new stake in shares of Olema Pharmaceuticals in the 2nd quarter valued at about $34,753,000. Great Point Partners LLC purchased a new position in shares of Olema Pharmaceuticals during the 2nd quarter valued at about $8,622,000. Affinity Asset Advisors LLC purchased a new position in shares of Olema Pharmaceuticals during the 2nd quarter valued at about $2,976,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Olema Pharmaceuticals by 168.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 330,761 shares of the company's stock valued at $3,949,000 after buying an additional 207,565 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Olema Pharmaceuticals by 10.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,002,685 shares of the company's stock valued at $11,972,000 after buying an additional 97,428 shares in the last quarter. Hedge funds and other institutional investors own 91.78% of the company's stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a "buy" rating and set a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday, December 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $27.00.

Insider Buying and Selling

In other news, insider David C. Myles sold 12,452 shares of Olema Pharmaceuticals stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $9.38, for a total value of $116,799.76. Following the sale, the insider now directly owns 611,947 shares in the company, valued at approximately $5,740,062.86. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bain Capital Life Sciences Inv acquired 300,000 shares of the business's stock in a transaction dated Wednesday, January 8th. The stock was acquired at an average price of $5.76 per share, for a total transaction of $1,728,000.00. Following the completion of the transaction, the insider now owns 7,800,000 shares in the company, valued at approximately $44,928,000. The trade was a 4.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 773,797 shares of company stock worth $5,414,609 in the last ninety days. 19.40% of the stock is owned by insiders.

Olema Pharmaceuticals Stock Performance

OLMA traded up $0.18 on Wednesday, hitting $5.68. 509,777 shares of the company were exchanged, compared to its average volume of 1,326,736. The firm has a fifty day simple moving average of $7.39 and a two-hundred day simple moving average of $10.74. Olema Pharmaceuticals, Inc. has a 12 month low of $4.60 and a 12 month high of $16.77. The stock has a market capitalization of $325.46 million, a PE ratio of -2.59 and a beta of 2.05.

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.