Renaissance Technologies LLC Invests $576,000 in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Renaissance Technologies LLC bought a new position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 53,200 shares of the company's stock, valued at approximately $576,000. Renaissance Technologies LLC owned about 0.10% of Olema Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. First Light Asset Management LLC bought a new stake in shares of Olema Pharmaceuticals during the fourth quarter worth approximately $8,854,000. Perceptive Advisors LLC acquired a new position in shares of Olema Pharmaceuticals in the fourth quarter valued at about $7,574,000. Janus Henderson Group PLC increased its position in Olema Pharmaceuticals by 74.5% during the first quarter. Janus Henderson Group PLC now owns 1,221,662 shares of the company's stock worth $13,817,000 after acquiring an additional 521,562 shares during the period. Entropy Technologies LP acquired a new stake in Olema Pharmaceuticals in the 1st quarter worth about $161,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Olema Pharmaceuticals in the 1st quarter valued at about $176,000. Institutional investors own 91.78% of the company's stock.

Olema Pharmaceuticals Stock Down 0.9 %

Shares of OLMA traded down $0.10 during midday trading on Thursday, hitting $11.16. The company's stock had a trading volume of 265,123 shares, compared to its average volume of 781,766. Olema Pharmaceuticals, Inc. has a one year low of $8.51 and a one year high of $17.79. The stock has a market capitalization of $624.22 million, a price-to-earnings ratio of -5.50 and a beta of 2.02. The company's fifty day simple moving average is $12.33 and its two-hundred day simple moving average is $11.76.

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

Insider Buying and Selling

In other Olema Pharmaceuticals news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now owns 783,118 shares in the company, valued at $11,676,289.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Olema Pharmaceuticals news, major shareholder Biocapital Advisors L. Paradigm sold 2,400,000 shares of the company's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $14.91, for a total value of $35,784,000.00. Following the completion of the transaction, the insider now owns 783,118 shares of the company's stock, valued at $11,676,289.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Cyrus Harmon sold 4,066 shares of Olema Pharmaceuticals stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.58, for a total value of $63,348.28. Following the sale, the director now directly owns 752,217 shares in the company, valued at $11,719,540.86. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

OLMA has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of 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 reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. Finally, Oppenheimer reissued an "outperform" rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a report on Wednesday, August 7th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $27.00.

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.