Victory Capital Management Inc. Sells 758,412 Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Victory Capital Management Inc. decreased its position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 89.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 93,100 shares of the company's stock after selling 758,412 shares during the quarter. Victory Capital Management Inc. owned approximately 0.16% of Olema Pharmaceuticals worth $543,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vontobel Holding Ltd. purchased a new stake in shares of Olema Pharmaceuticals during the 4th quarter valued at about $62,000. SG Americas Securities LLC grew its position in Olema Pharmaceuticals by 33.8% during the fourth quarter. SG Americas Securities LLC now owns 17,475 shares of the company's stock valued at $102,000 after buying an additional 4,419 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Olema Pharmaceuticals during the fourth quarter valued at approximately $111,000. Conway Capital Management Inc. bought a new position in Olema Pharmaceuticals in the third quarter worth approximately $119,000. Finally, Portland Investment Counsel Inc. purchased a new position in shares of Olema Pharmaceuticals during the 3rd quarter worth $143,000. 91.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OLMA has been the subject of several analyst reports. Oppenheimer restated an "outperform" rating and issued a $25.00 price objective (down from $30.00) on shares of Olema Pharmaceuticals in a research note on Wednesday, March 19th. HC Wainwright restated a "buy" rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a research report on Wednesday, March 19th.

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Insider Buying and Selling

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

Olema Pharmaceuticals Stock Performance

Shares of OLMA traded up $0.09 during mid-day trading on Monday, reaching $4.32. The stock had a trading volume of 3,604,605 shares, compared to its average volume of 816,929. The business has a fifty day moving average of $5.08 and a 200 day moving average of $8.25. The firm has a market cap of $247.53 million, a price-to-earnings ratio of -1.97 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 issued its earnings results on Tuesday, March 18th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.12. On average, research analysts forecast that Olema Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Olema Pharmaceuticals Company 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.