Point72 Asset Management L.P. Has $44.03 Million Stock Holdings in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Point72 Asset Management L.P. lifted its position in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 14.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,687,374 shares of the company's stock after buying an additional 475,447 shares during the period. Point72 Asset Management L.P. owned approximately 6.44% of Olema Pharmaceuticals worth $44,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its stake in shares of Olema Pharmaceuticals by 67.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,014 shares of the company's stock worth $132,000 after acquiring an additional 4,442 shares in the last quarter. Portland Investment Counsel Inc. purchased a new stake in Olema Pharmaceuticals in the third quarter valued at $143,000. Cubist Systematic Strategies LLC purchased a new stake in Olema Pharmaceuticals in the second quarter valued at $145,000. SG Americas Securities LLC purchased a new stake in Olema Pharmaceuticals in the third quarter valued at $156,000. Finally, Ensign Peak Advisors Inc lifted its position in Olema Pharmaceuticals by 6.1% in the second quarter. Ensign Peak Advisors Inc now owns 14,849 shares of the company's stock valued at $161,000 after acquiring an additional 850 shares during the last quarter. Institutional investors and hedge funds own 91.78% of the company's stock.

Olema Pharmaceuticals Trading Up 1.9 %

Olema Pharmaceuticals stock traded up $0.19 during midday trading on Thursday, reaching $10.28. 418,872 shares of the stock traded hands, compared to its average volume of 733,879. The firm has a fifty day moving average price of $11.14 and a two-hundred day moving average price of $11.90. The firm has a market cap of $589.02 million, a price-to-earnings ratio of -4.69 and a beta of 1.92. Olema Pharmaceuticals, Inc. has a fifty-two week low of $7.68 and a fifty-two week high of $16.77.

Analysts Set New Price Targets

Several brokerages have weighed in on OLMA. Oppenheimer restated an "outperform" rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price target 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. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, November 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus 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.