Renaissance Technologies LLC Purchases 127,900 Shares of Olema Pharmaceuticals, Inc. (NASDAQ:OLMA)

Renaissance Technologies LLC grew its position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) by 435.0% in the fourth quarter, Holdings Channel reports. The fund owned 157,300 shares of the company’s stock after acquiring an additional 127,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Olema Pharmaceuticals were worth $917,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Olema Pharmaceuticals by 6.0% in the 4th quarter. Vanguard Group Inc. now owns 2,685,009 shares of the company’s stock valued at $15,654,000 after acquiring an additional 152,117 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Olema Pharmaceuticals by 12.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,883,354 shares of the company’s stock valued at $10,980,000 after acquiring an additional 215,895 shares during the last quarter. Candriam S.C.A. raised its position in Olema Pharmaceuticals by 3.0% during the 4th quarter. Candriam S.C.A. now owns 1,551,562 shares of the company’s stock worth $9,046,000 after purchasing an additional 44,798 shares during the last quarter. Wellington Management Group LLP raised its position in Olema Pharmaceuticals by 52.1% during the 4th quarter. Wellington Management Group LLP now owns 1,525,484 shares of the company’s stock worth $8,839,000 after purchasing an additional 522,799 shares during the last quarter. Finally, Schroder Investment Management Group raised its position in Olema Pharmaceuticals by 548.7% during the 4th quarter. Schroder Investment Management Group now owns 533,111 shares of the company’s stock worth $2,991,000 after purchasing an additional 450,924 shares during the last quarter. 91.78% of the stock is currently owned by institutional investors.

Olema Pharmaceuticals Trading Up 2.4 %

OLMA stock opened at $5.16 on Thursday. The stock has a 50-day moving average price of $4.19 and a 200-day moving average price of $6.71. Olema Pharmaceuticals, Inc. has a 1-year low of $2.86 and a 1-year high of $16.62. The firm has a market cap of $352.60 million, a PE ratio of -2.36 and a beta of 2.10.

Olema Pharmaceuticals (NASDAQ:OLMA) last posted its quarterly earnings data 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, analysts forecast that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OLMA shares. JPMorgan Chase & Co. lowered their target price on Olema Pharmaceuticals from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research report on Monday. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $25.00 target price (down from $30.00) on shares of Olema Pharmaceuticals in a research 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.