Victory Capital Management Inc. Cuts Stock Holdings in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Victory Capital Management Inc. decreased its holdings in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 89.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,100 shares of the company's stock after selling 758,412 shares during the period. Victory Capital Management Inc. owned 0.16% of Olema Pharmaceuticals worth $543,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Point72 Asset Management L.P. grew its stake in Olema Pharmaceuticals by 14.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 3,687,374 shares of the company's stock valued at $44,027,000 after buying an additional 475,447 shares in the last quarter. State Street Corp raised its stake in shares of Olema Pharmaceuticals by 1.1% during the 3rd quarter. State Street Corp now owns 1,969,963 shares of the company's stock valued at $23,521,000 after purchasing an additional 21,986 shares during the period. Wellington Management Group LLP lifted its holdings in Olema Pharmaceuticals by 10.8% during the 3rd quarter. Wellington Management Group LLP now owns 1,002,685 shares of the company's stock worth $11,972,000 after purchasing an additional 97,428 shares in the last quarter. Great Point Partners LLC lifted its holdings in 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 purchasing an additional 203,120 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Olema Pharmaceuticals by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 332,950 shares of the company's stock worth $1,941,000 after purchasing an additional 2,189 shares during the period. Institutional investors own 91.78% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. HC Wainwright restated a "buy" rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th. Oppenheimer restated an "outperform" rating and set a $25.00 price target (down from $30.00) on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th.

Olema Pharmaceuticals Trading Down 3.0 %

Shares of NASDAQ OLMA traded down $0.13 during midday trading on Tuesday, hitting $4.19. 531,245 shares of the company's stock were exchanged, compared to its average volume of 816,924. The business's fifty day moving average price is $5.08 and its two-hundred day moving average price is $8.25. The company has a market cap of $240.08 million, a price-to-earnings ratio of -1.91 and a beta of 2.11. Olema Pharmaceuticals, Inc. has a 12-month low of $3.94 and a 12-month high of $16.62.

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

Insider Activity at Olema Pharmaceuticals

In other news, major shareholder Bain Capital Life Sciences Inv bought 300,000 shares of the business's stock in a transaction on Wednesday, January 8th. The stock was acquired at an average price of $5.76 per share, with a total value of $1,728,000.00. Following the completion of the purchase, the insider now directly owns 7,800,000 shares in the company, valued at $44,928,000. This represents a 4.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 19.40% of the stock is owned by insiders.

About Olema Pharmaceuticals

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.