Dimensional Fund Advisors LP Decreases Holdings in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Dimensional Fund Advisors LP reduced its position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 13.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,684,924 shares of the company's stock after selling 251,233 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.01% of Olema Pharmaceuticals worth $18,233,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of OLMA. First Light Asset Management LLC bought a new stake in shares of Olema Pharmaceuticals in the 4th quarter valued at $8,854,000. Perceptive Advisors LLC bought a new stake in shares of Olema Pharmaceuticals in the 4th quarter valued at $7,574,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Olema Pharmaceuticals by 66.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 10,562 shares of the company's stock valued at $120,000 after purchasing an additional 4,221 shares during the last quarter. Swiss National Bank boosted its stake in shares of Olema Pharmaceuticals by 8.8% in the 1st quarter. Swiss National Bank now owns 70,300 shares of the company's stock valued at $796,000 after purchasing an additional 5,700 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Olema Pharmaceuticals in the 1st quarter valued at $176,000. 91.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OLMA. HC Wainwright reissued a "buy" rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on shares of Olema Pharmaceuticals from $33.00 to $31.00 and set an "overweight" rating on the stock in a research note on Thursday, August 8th. Finally, Oppenheimer reissued an "outperform" rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, August 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $27.00.

Olema Pharmaceuticals Stock Up 0.3 %

OLMA traded up $0.04 during trading on Friday, hitting $11.60. 202,456 shares of the company's stock were exchanged, compared to its average volume of 791,383. The business's 50 day moving average is $12.59 and its two-hundred day moving average is $11.76. Olema Pharmaceuticals, Inc. has a fifty-two week low of $8.51 and a fifty-two week high of $17.79. The stock has a market cap of $648.83 million, a P/E ratio of -5.74 and a beta of 2.02.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.54) earnings per share for the quarter, hitting the consensus estimate of ($0.54). On average, sell-side analysts forecast that Olema Pharmaceuticals, Inc. will post -1.51 earnings per share for the current year.

Insiders Place Their Bets

In other Olema Pharmaceuticals news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the company's stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $14.91, for a total transaction of $35,784,000.00. Following the transaction, the insider now owns 783,118 shares in the company, valued at approximately $11,676,289.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $14.91, for a total value of $35,784,000.00. Following the completion of the sale, the insider now owns 783,118 shares in the company, valued at $11,676,289.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Cyrus Harmon sold 4,066 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.58, for a total transaction of $63,348.28. Following the completion of the sale, the director now owns 752,217 shares of the company's stock, valued at approximately $11,719,540.86. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,409,066 shares of company stock worth $35,908,648. Insiders own 19.40% of the company's stock.

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.