Pictet Asset Management Holding SA Has $10.98 Million Stake in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Pictet Asset Management Holding SA raised its holdings in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 12.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,883,354 shares of the company's stock after buying an additional 215,895 shares during the period. Pictet Asset Management Holding SA owned 3.29% of Olema Pharmaceuticals worth $10,980,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pier Capital LLC acquired a new stake in shares of Olema Pharmaceuticals in the 4th quarter valued at approximately $1,588,000. EntryPoint Capital LLC raised its position in Olema Pharmaceuticals by 101.3% during the fourth quarter. EntryPoint Capital LLC now owns 69,526 shares of the company's stock worth $405,000 after acquiring an additional 34,982 shares in the last quarter. Vanguard Group Inc. lifted its stake in Olema Pharmaceuticals by 6.0% in the fourth quarter. Vanguard Group Inc. now owns 2,685,009 shares of the company's stock valued at $15,654,000 after acquiring an additional 152,117 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Olema Pharmaceuticals in the 4th quarter valued at about $80,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Olema Pharmaceuticals during the 4th quarter worth about $30,000. 91.78% of the stock is owned by institutional investors.

Olema Pharmaceuticals Stock Down 2.2 %

Shares of Olema Pharmaceuticals stock traded down $0.07 on Monday, hitting $3.18. The stock had a trading volume of 1,153,549 shares, compared to its average volume of 846,122. The stock has a market cap of $217.30 million, a price-to-earnings ratio of -1.45 and a beta of 2.10. Olema Pharmaceuticals, Inc. has a twelve month low of $2.86 and a twelve month high of $16.62. The business's 50 day moving average is $4.69 and its two-hundred day moving average is $7.63.

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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 (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.12. As a group, equities analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current fiscal year.

Insider Activity at Olema Pharmaceuticals

In related news, major shareholder Bain Capital Life Sciences Inv purchased 300,000 shares of the business's stock in a transaction that occurred on Wednesday, January 8th. The stock was acquired at an average cost of $5.76 per share, for a total transaction of $1,728,000.00. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 19.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OLMA. HC Wainwright reiterated a "buy" rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Wednesday, March 19th. Oppenheimer reaffirmed an "outperform" rating and set a $25.00 price objective (down from $30.00) on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, March 28th.

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.