Pier Capital LLC Invests $1.59 Million in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Pier Capital LLC purchased a new position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 272,372 shares of the company's stock, valued at approximately $1,588,000. Pier Capital LLC owned about 0.48% of Olema Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OLMA. Intech Investment Management LLC purchased a new stake in shares of Olema Pharmaceuticals during the 3rd quarter worth $163,000. Charles Schwab Investment Management Inc. raised its stake in Olema Pharmaceuticals by 168.5% in the third 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. Dynamic Technology Lab Private Ltd purchased a new stake in Olema Pharmaceuticals during the 3rd quarter worth about $238,000. Great Point Partners LLC boosted its position in shares of Olema Pharmaceuticals by 25.5% during the 3rd quarter. Great Point Partners LLC now owns 1,000,000 shares of the company's stock worth $11,940,000 after acquiring an additional 203,120 shares in the last quarter. Finally, Portland Investment Counsel Inc. purchased a new position in shares of Olema Pharmaceuticals in the 3rd quarter valued at about $143,000. Institutional investors and hedge funds own 91.78% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on OLMA. JPMorgan Chase & Co. decreased their price objective on shares of Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday. Oppenheimer restated an "outperform" rating and set a $25.00 price target (down previously from $30.00) on shares of Olema Pharmaceuticals in a research note on Wednesday, March 19th. Finally, HC Wainwright reissued a "buy" rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday, March 19th.

Insider Buying and Selling

In other news, major shareholder Bain Capital Life Sciences Inv purchased 300,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was purchased at an average price of $5.76 per share, with a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 19.40% of the stock is currently owned by company insiders.

Olema Pharmaceuticals Stock Down 2.1 %

Shares of Olema Pharmaceuticals stock traded down $0.09 during trading on Friday, hitting $4.11. 261,272 shares of the company were exchanged, compared to its average volume of 831,030. The firm has a 50 day moving average price of $4.98 and a 200 day moving average price of $8.05. The stock has a market capitalization of $280.85 million, a price-to-earnings ratio of -1.88 and a beta of 2.11. Olema Pharmaceuticals, Inc. has a fifty-two week low of $3.93 and a fifty-two week high of $16.62.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its earnings results on Tuesday, March 18th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.63) by $0.12. Analysts predict that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.

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.