Wellington Management Group LLP Purchases 522,799 Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Wellington Management Group LLP raised its holdings in shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) by 52.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,525,484 shares of the company's stock after buying an additional 522,799 shares during the period. Wellington Management Group LLP owned about 2.66% of Olema Pharmaceuticals worth $8,839,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. KLP Kapitalforvaltning AS bought a new stake in Olema Pharmaceuticals during the 4th quarter worth approximately $30,000. Teacher Retirement System of Texas bought a new stake in shares of Olema Pharmaceuticals during the 4th quarter valued at $60,000. Vontobel Holding Ltd. purchased a new position in shares of Olema Pharmaceuticals during the 4th quarter valued at $62,000. Fox Run Management L.L.C. purchased a new position in shares of Olema Pharmaceuticals during the 4th quarter valued at $80,000. Finally, SG Americas Securities LLC boosted its holdings in Olema Pharmaceuticals by 33.8% in the 4th quarter. SG Americas Securities LLC now owns 17,475 shares of the company's stock worth $102,000 after buying an additional 4,419 shares during the period. 91.78% of the stock is currently owned by institutional investors.

Olema Pharmaceuticals Stock Up 4.6 %

Olema Pharmaceuticals stock traded up $0.19 during midday trading on Tuesday, reaching $4.25. 156,287 shares of the stock traded hands, compared to its average volume of 853,849. The stock has a market cap of $290.07 million, a P/E ratio of -1.94 and a beta of 2.10. The stock's fifty day moving average is $4.30 and its 200-day moving average is $7.21. Olema Pharmaceuticals, Inc. has a 12 month low of $2.01 and a 12 month high of $16.62.

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

Wall Street Analysts Forecast Growth

OLMA has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price objective on Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. HC Wainwright reissued a "buy" rating and issued a $30.00 price target on shares of Olema Pharmaceuticals in a report on Wednesday, March 19th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $25.00 price objective (down from $30.00) on shares of Olema Pharmaceuticals in a report on Wednesday, March 19th.

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.