Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP lifted its holdings in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 10.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,002,685 shares of the company's stock after acquiring an additional 97,428 shares during the period. Wellington Management Group LLP owned approximately 1.75% of Olema Pharmaceuticals worth $11,972,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in Olema Pharmaceuticals by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 851,512 shares of the company's stock worth $10,167,000 after purchasing an additional 76,720 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Olema Pharmaceuticals during the second quarter worth $945,000. Point72 Asset Management L.P. purchased a new stake in shares of Olema Pharmaceuticals during the second quarter valued at $34,753,000. Dana Investment Advisors Inc. purchased a new stake in shares of Olema Pharmaceuticals during the second quarter valued at $808,000. Finally, Great Point Partners LLC raised its stake in Olema Pharmaceuticals by 25.5% in 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 during the last quarter. Institutional investors and hedge funds own 91.78% of the company's stock.

Insider Activity

In other news, CEO Sean Bohen sold 52,328 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $9.37, for a total transaction of $490,313.36. Following the sale, the chief executive officer now directly owns 298,836 shares of the company's stock, valued at $2,800,093.32. This represents a 14.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Cyrus Harmon sold 8,256 shares of the firm's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $9.37, for a total value of $77,358.72. Following the sale, the director now owns 772,277 shares in the company, valued at $7,236,235.49. This trade represents a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,036 shares of company stock valued at $684,472 in the last quarter. 19.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a "buy" rating and issued a $30.00 price objective on shares of Olema Pharmaceuticals in a report on Wednesday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $27.00.

Olema Pharmaceuticals Price Performance

NASDAQ:OLMA traded up $0.03 during mid-day trading on Friday, hitting $6.75. The company's stock had a trading volume of 2,675,621 shares, compared to its average volume of 757,673. The business's fifty day moving average is $10.70 and its two-hundred day moving average is $11.88. The stock has a market cap of $386.76 million, a price-to-earnings ratio of -3.08 and a beta of 1.92. Olema Pharmaceuticals, Inc. has a 1 year low of $6.24 and a 1 year high of $16.77.

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.